I got approved for a 177k HELOC !

[James Matuschka]

Hey everyone! I just got approved for a 177k HELOC. I live in Glenwood Springs, Colorado, and I am trying to learn as much as I can before I dive in to my first investment property. Originally I was planning to invest in Louisiana where I am from and try the BRRRR strategy where the housing is much cheaper than Colorado. Now I am leaning towards doing a house hack near where I live since I still have a full time w2 job. Looking for any and all suggestions. Thanks for reading!-James

[Ruchit Patel]

If you can generate more cash than the interest of HELOC, it would make sense. Still, you would have to be super careful borrowing that high amount.

I know people buy high cash flowy assets as an investment property to pay for HELOC interest, and basically make wealth for free, till tenants keep paying.