To HELOC or not to HELOC...

[Eric Schenck]

I recently bought my first home (primary residence) with a no money down VA loan for $135k. I got a low price because it was an estate sale and VA appraisers appraise no higher than the VA loan amount. My neighborhood average is around $175k-180k according to Zillow. I only have a small amount of equity so far.

1.) Would anyone recommend I get a new appraisal to increase the equity to apply for a Home Equity Line of Credit (HELOC) to begin RE investing?

2.) Will a new appraisal increase my property taxes (currently for $135k house)?

3.) If anybody else has experience doing this, was it worth it?

I want to be factor in as much as I can.  Any advice is greatly appreciated! :)