Cash Vs Conventional

[Sami Eldaw]

Hello All,

I am on the stage where I am set to start investing in real state and kind of piecing together  a plan and set of goals. I would like fellow pocketors to help open my eyes into the pros and cons of some options. I have set my mind on flipping , currently looking into Buy, fix, rent, REFI strategy. My goal for now is to double my starting capital within 1 year, My situation is as follows:

 1. I have a full time job that pays decently and  I am not willing to leave soon.

2. I own and live in a house that I bought cash (165,000)

3. decent credit score (although no mortage ever) and have access to decent terms conventional loan.

4. I have some cash savings that I can put in a down payment and credit line that can finance the repair cost.

My options are :

1. get a conventional loan, pay the downpayment cash, use credit lines to finance repair, sell and clear profit, rinse repeat. pros: less risk (I won't touch my primary home equity) pros: possible issues with future lenders due to selling/ paying off quickly?

2. get a HELOC on my current house and use it to buy the house cash, pay for repair cash, and sell . Pros: time, no interest payment Cons: risking my primary equity if the deal goes wrong.

3. Get a Heloc and put it all towards a down payment for  more expensive house, REFI and use the for smaller deals through conventional.

I would appreciate some suggestion and directions here specially pointing out some downsides that I am not foreseeing. Also I am lacking information on multiple sequential lending I am not sure if that's something doable so information about the best way/sequence to approach that will be appreciated.