HELOC on a rental property?

[Ragnar375]

Anyone know of a lender that will do a (first seat) HELOC on a condo rental property located in GA? 

 Market value is around $200k. 

No mortgage.* 

Preference is for around 75% LTV. 

About a year ago I spent hours calling every local bank and CU I knew of and none offer such. 

Alternatively, is there a secured CC that would allow me to use the property as collateral? 
Looking for a product I can use, pay back, and repeat. 

*Only encumbrance on it is an old HELOC with B O Am that's in repayment phase and balance under $2000. 

[URHomeInvestments]

I have used Ridge Lending for investment mortgages and am on their auto mailer for products on offer.  They do have a first position All in One HELOC type of mortgage on both primary residences and at least one investment property.  FICO scores must be over 720, if I remember right.  It will be a very high doc kind of product, but can really move mountains if used properly.

[Ragnar375]

So you'd refi your primary and open a HELOC on the rental? 

With a 3.5% rate on our primary, that would be a big no for me! 

But I applaud the creative solution by Ridge Lending!