HELOC financing after close?

[Gordon Ray]

I've been looking into creative financing options for thinking ahead. I don't think I'll be able to get any sort of traditional financing while trying to lock down on a 30/yr mortgage, but who knows. 

I was looking into HELOC (against primary residence) and if I understand correctly, I can use this after closing to access the 50k equity that will be in the house (DP) and in turn use that to finance a SFR or MFR purchase?

I'm a little confused on the process. Is it really that 'easy'?