Creative ways to use equity without refinancing
I am interested in exploring creative ways to use the equity in my property without refinancing and loosing my low current interest rate.
Last year I purchased my first investment property (duplex) in Los Angeles. After making some improvements, bringing in new tenants at market rent, creating cashflow, and seeing home values rise in my area, my equity has grown through mostly appreciation and some principal pay-down. I would like to use this equity towards my next investment if possible using the BRRR strategy. When I do the numbers on a cash out refinance with the rising rates I become discouraged. Keeping my rate which is close to 3.9 seems to make the most sense. What are my options when moving towards another deal?