Home equity tax deduction on out of country

[Roberto Lozano]

Hi hope you are all doing great, I am planning to pull out some equity from my primary residence (California) which has been fully paid off. Thinking of cashing out around 300k to build some commercial property on some land I have in Mexico, along with buying an apartment in Mexico. So my question is:

Can I use this loan money to build and buy property in Mexico and still be able to deduct it 100%? Or how would that work? Any advice?

Thanks in Advance.

-Roberto L.