Cash Out Refinancing Question

[Allan A Ramirez]

When you buy a rental with a bank loan, do renovations, and then get a cash out refinance I’ve heard that you typically get all your money back. Does a cash out refi mean you pay down the original loan and have the potential to get back the money you put for a down payment in the original loan and repairs to ONLY go invest in another deal? Because either way any extra money that you take out from the cash out refi you still have to pay back, correct? Thank you to anyone who can stop by and clear me of this doubt.