HELOC question, first time investment

[Tasha Davis]

Does anyone have a HELOC? I will be closing on my first investment home in about a month and I was wondering if I should request a HELOC now or wait until I have some money invested in the home. I got it for 95,000 and it is appraised at 120,000- obviously I have nothing invested in the home yet, as I don't own it yet. There are a few repairs that are needed, nothing major, but I would rather get it all done at one time than save and fix one thing and save some more and fix another thing (UNLESS THIS IS THE BETTER THING TO DO) thoughts? ideas? suggestions?