HELOC OR EQUITY LOAN?

[Dylan Tran]

Hello fellow investors,

My partners and I just started an LLC for home re-development aka house flipping.

Each of us will have equal shares, so monetary input.

We just landed our first deal through the MLS for 170k.

The question is:

I have a rental apartment for 5 years now and its appreciate went up to 100k. Am I able to take out a HELOC or lump sum of 80% of that 100k appreciation to put into the business to do a flip??? I own the property but only lived there for a year. What are the requirements to take an equity loan? Thanks in advance.