Using a HELOC to pay cash for a property

[Bruce Ray]

I am looking at a distressed property for a flip that is bank owned. I think I can purchase the property for substantially less with a cash offer vs obtaining financing and prolonging a closing date. I have a HELOC which will more than cover what I want to offer. Is that a good strategy and what would someone recommend with financing the rehab? I am brand new to real estate investing, but have have been intrigued with it for years. Tired sitting on the sidelines.