Cash out refi versus HELOC? Which is better?

[Jimmy Lieu]

Hi,

I am still learning about refinancing properties, and I keep seeing HELOCS and cash out refis. If I have over 20% equity and want to refinance my first property to invest in a second property, would a HELOC or cash out refi be better for me?

When would you say is it better to use a HELOC?

When would you say is it better to do a cash out refi?