How soon can I do a HELOC in Canada🇨🇦?

[Jovan Lewis]

Hello biggerpockets community,

So here is my scenario

We bought a house last year for 408k after hearing they had lowered the price because it needed some TLC.

After buying this home last year , our Cul de sac is now pushing prices of 500k + all homes selling for over asking, average house on our cul de sac being listed for 479k+ and sells in 2 weeks.

Is there any money we can get out of this home this soon to move to a different market to invest into a investment property or way too soon ?

I am new to this but investing is my long term goal

Our current mortgage owing is 389k

Educate me 😁

Thanks!