Newbie Question - 2 Properties & No Capital For Rehab, What To Do

[Victor Chanhthasenh]

Hello BP!

My name is victor chanhthasenh. I want to get into real estate, heres my situation.

Bought new house with conventional loan put about 30k total for house in las vegas. Las Vegas is my market.
I have my parents house and im planning on having them move in with me so i can rent their house out and make some money.
Their house was built in 1991 and hasn’t had any rehab done, and needs some serious work. I have no capital since the purchase of my home, but i want to speed things up.
I'm planning to do a HELOC on my property sometime early quarter next year, so i can rehab my parents house.

What do you guys think of this? Also, please ask me anything!!


Thanks,
Victor Chanhthasenh