Buying Property with HELOC and Want to Convert to a Home Loan Lat

[Kent Julian]

I'm a buy and hold investor and currently have 3 rental properties... all are doing well and cash flowing nicely.

In the past, I've used conventional loans to purchase and would get pre-approved for these loans. Now, however, I would like to use my HELOC for the next purchase. Once I purchase the property, I'd like to get a more conventional loan on the property and pay off the HELOC... then do it all over again.

Any suggestions about best practices and/or best banks in Gwinnett County, Georgia would be appreciated. Feel free to point me to relevant posts as well.

Thanks!

[Kent Julian]

@Harjeet Bhatti and @Account Closed - my HELOC doesn't cost me anything until I use it. The reason I want to use it is it allows me to act quickly instead of having to pre-qualify over and over again (every 60-90 days). I use the HELOC to purchase the property and then refinance in my LLC once it's purchased.