The 4th R in BRRRR Need Help on The Refinancing Step

[Julie Miller]

As I understand it, the Refinance step is to pull out capital from my rental house, which has no mortgage, to build capital to use for my next property purchase, correct?  What kind of a loan is that?  Is the range of 70-80% what I should try to find?  Do I have to know what property I'm going to buy?  Any help from someone who has done this would be greatly appreciated.