Introduction and a little bit of advice

[Alexander Witt]

Hello all.

First a little bit about me. I am a 29yo Landlord. Purchased my first Duplex in September 2020 and owner-occupy. Upon close of that property, it was vacant. I took the opportunity to "stage 0" both the upper and lower. New paint, ceiling fans swapped for light fixtures, and TLC to the bathroom; especially the rental..plus much much more. I am so happy I put in the work that I did.

Shopping for tenants went fairly well. My aunt (former landlord of 20 years) helped quite a bit with the logistics. My tenants that I have are great and I plan to offer a renewal when the time comes (December 2021). Besides the little expenses and even big expenses (both furnaces replaced January 2021) I have no complaints.

A goal of mine and something that I have said many times was that I want to buy a second property within a year.

Now this is where I am looking for advice. Who here recommends or has any experience taking out a HELOC for use as a down payment on a second investment property (duplex)? I've read that this could be option and while ultimately it is up to my lender, I am looking for opinions from the community.

Thank you.