HELOC - buy investment properties or put in a swimming pool?

[Jason Lowery]

I currently own a home in the greater Atlanta area. I have a decent amount of equity in my home considering I have not owned it long (~75-90k) and was planning to use this to install an in-ground pool in my backyard - something I've wanted a long time. With rates on the rise I figured cashing out the equity now is the best timing since I can still get a good rate (already locked one down), and housing will hit it's peak. On the other hand, I may have an opportunity to scoop up several low-income properties which are already cash flowing. 

Funny how this opportunity came immediately after we decided to move forward with a swimming pool.

I'm torn between buying property or making my backyard more amazing than it already is. One decision could bring cash flow, and the other - property appreciation (and lots of fun). 

I know the Kiyosaki's of the world would say "buy assets!" - but I'm wondering if there is a strategic way to have both? To kill two birds. 

Surely someone has faced a similar situation. 

[Vinay H.]

Buy the cash flowing properties and then use the equity on the properties to put in your swimming pool. Sure you won't get it this year but I think you can have both with patience...

Btw, the HELOC rate will adjust, so it will go up with interest rates .....