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Updated about 4 years ago on .

Using rental property for financing
Hey everyone! Would love some financing suggestions. I'm trying to use a current rental property as financing for another since there's only about $6k left to pay off on a HELOC we got when it was our primary residence. Was going for another home equity loan or HELOC. The issue is that we've purchased a commercial property using a SBA loan which then put a lien on the rental property. Was told a cash out refi wouldn't be possible because it's a rental property and the SBA loan takes second position - making another home equity loan nearly impossible since it be 3rd place. Advise from a different perspective would be amazing. Is it as simple as paying off the current HELOC? Or is there another way I'm not seeing. Thanks!