Cash-Out Refinance or HELOC?

[Josh Huber]

Hello everyone! 

As I continue to search for multi-families to purcahse, I'm stuck in a mental debate of Cash-Out Refinance vs. HELOC?

I purchase a house about 2 years ago that I fully renovated and moved into. I currently owe 40k, and the appraised value of the property is 120k, leaving me with 80k in equity. If you were in my shoes, would you have more interest in a Cash-Out Refinance or take out a HELOC to fund a multifamily investment?

Thanks in advance!

-Josh 

[Harjeet Bhatti]

If you want to use this money for longer period of time then cash out would good option. If you want to use it for short period of time HELOC would be good option.