HELOC for first property

[Mike Deneys]

Hello everyone. This will be my first of many questions. I have just secured a $35000 HELOC. I intend on purchasing my first rental (Single family or duplex to fourplex). I don't understand how people are buying then rehabbing properties to raise the rents. I don't know how I would be able to do that with only $35k available of my own money. Would anyone like to explain a few options other than just turn key properties? Thank you

[Julien Jeannot]

@Mike Deneys

@KC Pake did a great job summarizing it!

In my market, its common to use private money to get it done.