Heloc on investment property for more investment properties

[Nicole Ferrara]

I purchased a SFH as an investment property - I'm reading here there some CUs and banks who will allow a 80% heloc (in order to get cash for another investment ) . Is this not a preferred purpose .? When asked by banks what the heloc is for - is it ok to note other/ cash for investments ? How long does one have to own the home to apply usually? The home has equity as we bought for below market

Thanks !