Hi, I'm working on getting a HELOC on my own personal residence.

I like the idea of renovating your home and considering a HELOC instead of a cash-out refinance.

The few lenders I've reached out to in my area (local banks, credit unions, etc.) are only working with primary residence for Helocs or Cash Out refi.

Should I put heloc on the 3-plex due to the current low rate and use the cash to BRRR?

Also, if you have significant equity in your current home, consider getting a HELOC or 2nd mortgage to pull cash out of the home for the new downpayment.

After getting a good amount of equity in the house for future HELOC funding, I was going to move out of it and use the property as a rental utilizing a lease option, or, rent to own agreement. 

I did a HELOC on my primary property to buy this one, which I rent and the cash flow is good.

Most HELOC lenders use AVM 's which are always lower.

Does anyone have experience paying down their loans with HELOC or Liquidity Line money? 

if the property is in Oregon they need state MLS and NMLS registration for ANY loan on a 1 to 4 unit regardless of purpose.thanks appreciate your feedback- we're only pocking $40k after paying off another heloc and debt. need to finish a big electrical job on the house, etc. so can't save up, but still have over $100K equity.