Refinancing a first home in hopes of using refi to help with next

[Tiwana Merritt]

I may be asking a silly question here but I'm trying to figure out about refinancing to use the money to then assist in the purchase of a second property. I updated my property a few years ago by adding on a room as well as a few other updates. After listening to many BP podcasts about refinancing (particularly the BRRR method), I'm thinking I can refinance my property to use the 'extra' from this to assist in purchasing the next property. Is this what everyone is referring to when they talk about refinancing and then reinvesting these funds? I just want to know I'm on the right track. Although my bank just responded to me stating that they 'are able to request valuations as part of a loan application, but unfortunately, we are not able to provide interim valuations on properties. If you apply for a loan with Bank ________ and wish to use the property as security for your new loan, we will value the property as part of the new loan application.'

Have I got my facts and information wrong, did I misunderstand?

Many thanks in advance.