BRRRR: HELOC and conforming loan - first post

[Shaun Sperry]

I am looking to the BP community for some advice on my first post, popping my cherry finally. 

I am looking to take out a HELOC on my primary residence for my first BRRRR. I do have reserves, but it is mostly for emergency purposes and will be a back up if all else fails. I know most BRRRR investment properties will not be able to qualify for a conforming loan, but if the property is able to qualify, will it be a problem for lenders to have have a large line of credit on my credit report (for example purposes, maybe up to 45% or 55% DTI. I currently have a 24% front and back end ratio ( I believe), no other debt except primary residence PITI. I dont want to be caught in a bad position, but I also want to be ready to pick up any deal cash and I am willing to take the chance on using the HELOC if I can make the numbers work.

Happy investing,

Shaun