What is a “cash out refi”? And how do I use that as a strategy?

[Nathan Fraser]

Hello all

I’m looking to start my journey of creating a real estate portfolio for renting. One thing I’ve come across in my research is what’s called a “cash out refi”. Could anyone here educate me on what that is exactly and how it works? So far my concept is to use equity gained in properties I buy to buy more, is this the right way to do that?