Line of Credit?
A close friend of mine in the banking industry has pointed out that I should open a line of credit using a recent appraisal of a property I had refinanced demonstrating considerable equity. He's stated I would be able to attain about a $40k line of credit using the properties' equity. He's stated to me that the line of credit is similar to a credit card, but I'm able to write checks for whatever I want.
I have no experience with using a line of credit, but would welcome others experiences and opinions.