BRRR Strategy Question

[Claudio Golia]

I'm sure this is a real noob question, but I'm curious as to how the refinance part of this strategy works?  

Assuming you are able to refinance for 70% of the ARV, how do you utilize the funds from the refinance to pay back your original lenders (e.g. private/hard money) and start again?

I feel like I'm missing something very obvious in this step?

Thanks and appreciate your patience in this learning process.

Claudio