HELOC to purchase and repeat

[Derrick Cameron Jenkins]

I found out that the Credit Union I bank with offers 95% LTV HELOCs. I am taking this route to avoid losing my 2.2% interest rate while still accessing my cash. My application is currently processing and should be able to be approved. I'm just looking for the groups point of view on this idea. Interest rate on the HELOC is somewhere in the 4s. My idea is to use the money purchase a property for well over the 20% down threshold, refinance, pay back the HELOC, rinse and repeat with that with 2 or three properties. That or pool the money with a partner and purchase something larger. I would love to hear yalls thoughts on this.