A HELOC can be used as a down payment, but not as reserves.

@Christopher Bell I'm a newb here but I've asked myself that question as well since if I were to sell my current home I'd net just over 200k after sales expenses.Since I'm not ready to move yet I've been in contact with lenders about refinance/HELOC options to access the cash.

We will than refi as a four bed two bath comp for added value for less than a $2000 cost to us.In the fall/winter months of 2020, we want to do kick off the "real," step-off into investing we plan to use the rental income to place the 20% down for a purchase and then use our HELOC from our primary to fund the rehab.

I don’t believe it’s too Ricky as long as you know what your exit strategy is and can afford the monthly payments for the HELOC.

Took out HELOC from my other investment property to purchase the deal How did you add value to the deal?

Took out HELOC from my other investment property to purchase the deal How did you add value to the deal?

We have a HELOC that we use on our home but we would like to refinance the first mortgage.

You could potentially take equity on it with a HELOC and go secure the new places you want with that.Did you move to Florida?

We are looking to purchase rental properties, however with our savings now depleted, we are looking at HELOC.

For example, Ive heard you cant get a HELOC if you have the property in an LLC.