HELOC Guidance for First Time Investors

[Nick Bowie]

Hello,

I'm up in the Greater Portland, Maine area and just learning about the possibilities of REI for growing wealth and how investors look at the market while following key formulations. Makes a lot of sense, and thankful for forums like BP so open to helping out.

I'm feeling well positioned to make a move into investing but wanted to seek a bit of guidance. Our current property has been in the family for generations and has a current HELOC of 100k, but could be possible to finance up towards 400k. It's a duplex, so we've been house hacking for 15 years - learning skills as landlords and undertaking minor renovations - while the neighborhood grew.

So we're planning our first investment, should it be a flip, or a build/sell, or BRRRR? Should it be one of each? Should we increase the current HELOC at all?

Thanks in advance,

Nick