Explain this financing strategy

[Nicholas Fazio]

I don’t remember who said it or where even, but I quote:

 “I'd get a secured line of credit against the property. That way can pay cash for another asset, refinance that property, pay off your line of credit, then use the line of credit to rinse and repeat. Then have your bank take a second position against all the equity in the properties to increase your line of credit for larger purchases, bigger multifamily properties etc”

Thanks