HELOC loans for investments?

[Ashton Blake]

Hello all, like the subject says I'm new to this and only have one property atm and I need help with getting rolled into the 3rd.

the reason I email

got a few questions for you, firstly my personal house has enough equity that I can easily approve for a HELOC loan for another property or at least the 20 % down.

now say I do go ahead and find another property that's an ideal candidate & uses my HELOC for the downpayment, would I even be able to get another mortgage for the remainder 80%?

I've had a hard enough time getting the 2nd mortgage for the condo let alone a 3rd.

When it comes to re-finance this 3rd theoretical property to pay back my HELOC would that be an issue? being locked into a mortgage?

is it even legal to use a HELOC for a downpayment? (last time bank wanted a lengthy paper trail of the money for down payment)

finally, my area (Barrie/ Innisfil) average house prices have risen last year alone by 20.8 % to 500 000 for a single house it is almost impossible

to find a cash flowing rental property, that being said I'm not opposed to looking out of town. ( Orillia, Midland etc )

and not opposed to the BRRRR technique being in construction myself.

I've been scouting the MLS and driving all over Barrie and area for deals. is there any other recommendations for finding properties.?

how to look for foreclosures? without paying all the ridiculous fees for random websites.

I don't expect this lengthy email to get read, but I would appreciate any help I can get.