Use cash out refi to pay off HELOC

[Jonathan Bonck]

Hey BP

Need some help on a scenario that I am processing..... I want to take a HELOC out of my primary home to use as a DP for another investment property. The assumption is the investment property has built in equity and is cash flowing positive.

After 6 months to a year I would like to execute a cash out refi on the investment property. The new refinanced mortgage on the investment still allows a positive cash flow, 

Then I would use the pulled out refi cash to pay off the HELOC.

Has anyone done something similar or know if this strategy is possible? 

Thanks.