Using a HELOC to purchase properties

[Jason Hartman]

I have been trying to find a bank that will give me a heloc on my rental unit and allow me to use it to buy more units and use the brrrr strategy to obtain more properties. I have talked to multiple banks and credit unions in the area and they have all told me that federal regulations do not allow me to use my heloc to buy real estate. Has anyone else run into this problem? If so, how did you get around this problem?

[Russell Gronsky]

@Jason Hartman, I've never heard of such a regulation but if it does exist (I assume it does if multiple financial institutions told you it does), would they be okay with you buying a property with another loan, cash, HML or private investor funds and then use the HELOC for the repairs?