Am I subject to capital gains tax from refinancing on a brrrr?

[Austin Mirer]

If I were flipping a house and selling it to someone else, I know I would be subject to capital gains on my profits. But if I'm using the brrrr method and am able to refinance money out of the house, am I taxed on that? I want to say yes, but thought I'd just ask some of the pros on here

[Bill B.]

In other words, no you would not be taxed, because you haven’t made any profit. until you sell and have a net amount of money left, you just own a thing that’s worth some amount of money.