Anyone with experience HELOC's?

[Timothy J Wagner]

Hello and good day to anyone reading this. My name is Timothy J. Wagner and I have a question that I'm hoping someone can help out with. 

I'm new to real estate and am hoping to get on my own feet someday but at the moment I am helping my dad grow his own personal real estate business. He had applied for a HELOC but is worried about it being a variable rate interest. because of this, he is hesitant to go through with using the HELOC due to where the market could be going.

I'm curious if anyone has recently used a variable rate interest HELOC or is currently using one or a similar type loan, and what your experience has been like.

if you think we should go through with this HELOC I would like to know your reasoning, likewise if you are against us going through with this HELOC then please let me know as well.

Thank you for reading. This any help goes a long way, and I hope the best for all of you.

[Denis Ponder]

I currently have a HELOC on a property and used that money to renovate the same property. I plan to rent that property out and pay the HELOC back with the cash flow. I also plan to use the HELOC as down payment money for future investment properties, pay it down, rinse, and repeat.