Need to use Equity on my property for other Real Estate deal

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Hey everyone,

A friend of mine and I currently hold a 40K condo free and clear through a LLC.

I have a potential buy, of a second property that I would like to do for 25K.

We just rented property #1(after a massive $$ ordeal), so I have essentially no savings in the bank.

What would be the best way to use my equity to purchase the 2nd property.

I'm thinking a HELOC would give me the best options, and I'd have access to that money in the future(with low cost of setup).

I'm open to ideas.

Thanks,

Jason