HELOC for Turnkey or BRRRR???

[Bryan Malone]

Considering taking out a HELOC on primary residence to purchase 1st rental property. Lender is offering fixed rate on the HELOC as long as the account is open for 3 years. Would it be better to use the proceeds on a turnkey property or find a fixer upper and use the HELOC as a down payment and later refinance using the BRRRR method? I like the concept of turnkey because I don't have the time myself to put into fixing it up but would consider bringing on a partner that is willing manage that portion of the deal. Thoughts???