Opening a HELOC during BRRR

[Jim D.]

I am doing about a dozen flips/BRRRs this year and looking for ways to improve my liquidity. One idea I had was the following:

1. Purchase property for $100k cash (property is dated but habitable)
2. Immediately open HELOC for $75k
3. Rehab and then refinance into conventional loan at 6 month mark

This would just be the basic BRRR method, but with the addition of opening up the HELOC while rehabbing in order to get most of the cash out sooner. I have HELOCs on other rental properties that go up to 75% LTV, but I am having a hard time finding a lender willing to do this HELOC before 6 months. Has anyone ever done something like this?