I am getting a HELOC. What do I do now??

[Claude Florvil]

I applied for a HELOC. One of my goals is to grow my portfolio to 30 units. I currently have two properties, four units total.

I understand that this money is borrowed money, so I dont want to have it locked in a deal for a long time and pay the interest payments. What is the best way to utilize this HELOC to grow my real estate portfolio and mitigate the risks of borrowing a large sum and not pay it back or worse consequences. I figure a fix and flip project? Cash out refinance, pay off the HELOC and then repeat like the BRRR strategy.

How else have you all used HELOC loans? And what are the risks that I may not be seeing/aware of?

Full transparency in that I do not know the best path forward. I also understand there is no one blanket answer to this question. I guess I'm more looking for perspective. If you are someone that is willing to have a quick conversation on the phone I would love to hear your story and share more of mine. Thank you for making it to the end of this post!