How to use a HELOC?

[Bobby Oliver]

Hey fellow rockstars! 

I bought a fixer upper last year and have been working on it while living in it. It's my first house! I have $75k of equity in it and am interested in a HELOC to buy a 2nd property, fix it up and rent it out. I have a few questions though...

-Is this a safe idea? 

-What financial factors to I need to take into consideration first? 

-Which banks/lending agencies should I work with that will actually listen to me? 

-I'm 22. How can I get people to take me seriously when it comes to big deals like this? 

-Where do I start? 

Any positive comments are greatly appreciated! Thanks guys!