A Heloc may be a better option since the rate is higher but the loan costs tend to be lower, and on OO you can (generally) borrow a significant LTV (around 85-90%)

@Will GastonWhy not just to do a heloc or a cash out refinance in order to use the equity?

I’m looking to do my first BRRR and I’m planning to use HELOC for cash.

Are you going to pull money out w/ a Heloc or loan to leverage into other properties?

Are there bank statement HELOCs available?

Also, if I get a Heloc on a free and clear property, does it count as a property under mortgage once I open the credit line or only if I draw on it?

I would go on Facebook and join every group in your area that has “wholesale” and “real estate” in the name lol (no, seriously, I’ve met a lot of people and came across a ton of deals).I would highly advise you prioritize your strategy for funding (heloc, hard money, etc).

So I got a HELOC, and I bought a Single Family home, and my Fiance and I moved into that - even MORE privacy!

@Shaun Weekes Yes, I already have a heloc for $20K on stand buy.

At first when I was looking into real estate investing I thought take a HELOC out and use as a down payment and rent out my primary residence and start working on another property.