Use HELOC of 350k towards 1 mill peoperty
I'm in the process of getting HELOC from a duplex I bought in the LA area which I bought in 2013 for under 300k. I got approved for a 350K HELOC due to appreciation and am thinking of how I can maximize this opportunity.
If I can find a fourplex or 5plex + for 1M I am thinking I can use 200k as down payment after running the numbers to cover the mortgage I can cover the HELOC and BRRR. I currently live in LA and looking in the area but am not afraid to look further out of LA. What do you guys think? What would you do with a 350k HELOC to maximize this opportunity.