will this work?

i bought my house 0 down for 329K 8 months ago. It has appreciated 30k since then. I applied for an increase in my heloc to free up the 30k. once approved, can i take that 30k and right away use it as a downpayment on another property that I am making an offer on.

Will a lender for the other property frown on using this money as a downpayment? I’m asking b/c I am doing it at roughly the same time. I was thinking about putting 24K down on a $240K property.

Assume 700+ score, $100K income from job, less than $10K in the bank.
Does anyone think I’ll have a problem getting a loan?

No it will not be frowned on. It will be ok with the lender it is done every day

You can you that money when you need it. J

just be sure of your risk because you are using your primary residence