ALL IN ONE HELOC - to grow RE portfolio

[Nandy B.]

Can somone offer insight All in One HELOC? or It' s a 1st position HELOC?

I have a property in TX that doubled in value and because of TX strict rules I cannot do a regular 2nd position HELOC on an investment property. I also dont want to do a cash out refinance, as I want a revolving loan.

An all in one HELOC allows you to pull out about 70-75% of the appraised value of your loan which in my case will be about 200-225K depending on the final appraised value. I intend to use the money to BRRRR a few properties in TX ( where I currently have 2 SFH).

Based on current understanding....The interest rate will be higher than my current loan but it will allow me to grow my portfolio faster and increase my cash flow even more. 

I feel like i am well positioned to handle this calculated risk. I am a high income earner currently cash flowing about 5K per month between my full time job and my business. I have been investing for 7 years ( 1.5M portfolio, gross about 120K per year). I have managed big remodels and I have personally renovated my first home. 

I also know how to invest remotely. I have learned so much about the business, the only thing keeping me from growing is the more funds. 

 I am skeptical but after reading more about it, it seems like the right opportunity for me to grow my RE portfolio. 

Would appreciate your thoughts especially if you have leveraged this tool to grow your RE portfolio.