when can i get heloc on new home paid for with cash

[Thomas Dionne]

I was wondering what restricts people who say want to buy 2-3 homes buy only have 75k.

If I bought one home for 50k cash and moved into it, fixed it up etc, how long (if ever) would it be before I could take a heloc on it in an average circumstance to buy another home? Seems like there would be some restrictions.

You probably wouldn't get more in credit than you paid for but at least some of that money could be put back to use.

I don't have the ability to buy the home i bought without cash so i had to do it, was wondering if people ever did this instead.

Im just wondering of a strategy to make my finds go further and buy multiple homes.

thanks

[Will Barnard]

A potential better alternative is to find private money and use the free and clear home as security. You may pay more in interest, but so long as you use the money to gain higher returns than what you pay, it is worth it.