Heloc Financing for First Time Buyers

[Sharai Mason]

Hello BP family!

My husband and I are purchasing a pre foreclosed townhouse condo this week! This is our first real estate purchase. The purchase price is 140k, the appraised value is about 185k. We plan on doing some minor upgrades to increase the value. Classic BRRRR strategy. After about 6 months, we plan to use the equity in a HELOC to purchase a 4 unit multi family property with an FHA loan. Outside of this new purchase, we have no consumer debt! I am fairly nervous about plunging head first into a mountain of additional debt. However, we are very serious about creating wealth and passive income at a fast pace. We would like to buy 3 properties this year.

Is a HELOC an efficient or recommended method to purchase property as a new (first time-ish) investor? Or does this require additional experience, mastery, or financial planning?

Thanks!