HELOC and the BRRRR method

[Frank Costa]

Is a HELOC a viable option to buy a SFH with the intent of using the BRRRR method? Unfortunately ready cash is not available but I have plenty of equity in my primary residence. That said my HELOC limit would enable me to pay for the target property in full.

So if I were to utilize this tool, would I be able to do a Cash-Out Refinance once the renovation period is complete? If yes, what's a realistic time period to contact a lender to begin the refinance process? My thought is to repay the HELOC balance ASAP. Also am I overlooking any other obstacles?

Thank you in advance.