Advice On Funding a Down Payment

[Christian Leon]

Hello BP Community,

I am looking to buy my first multifamily property in Jacksonville, FL. I have a two properties I want to offer on in the $350K mark, but l need to come up with 15%-20% down payment. My original plan was to use a local FL bank to get a HELOC on one of my investment properties, use that to fund my down payment, and then pay it back within a year or so. Very few banks are doing HELOCs on investment properties right now ( I have called over 20 this week) so I wanted to ask if anyone has done a HELOC on an investment property as an out of state investor recently, and who they used? Any other creative approaches/advice for funding this down payment are also welcome! Cheers