Bought my 1st SFH,How can I get the ball rolling for the next on

[Emma Chen]

Hi all, how soon can I buy a new property with HELOC? I recently bought a SFH for investment purposes in the Bay area for ~600k with 20% down. Right now it's being occupied by a tenant, breaking even on the mortgage and property tax.

I want to start looking into multifamilies next out of state. 

How soon can I tap into my loan and get a HELOC going? how much do I need to save on the side to have the bank seriously consider me again? I want to get going and not waste time. Any advice on how I can make getting my next property soon? I have a good credit score and income.

I am reading Long Distance Investing by David Green as well. Thank you 

[Sarah Brown]

You're going to need to talk to a few lenders and find which ones will actually do HELOC on an investment property. Many won't. Once you find someone willing to work with you, as long as you are doing investment loans and you qualify, you can theoretically buy as many as you want. There is no limit to the number of mortgages you can get in a year as long as you have the income to back it. Keep in mind your first year, rents will likely not be considered income and the mortgage payments will go towards your DTI.