Refinance with cash out

[Jeremy Albers]

I am newly licensed and looking to buy my 1st investment property - rehab - Rent - refi - repeat... you know what chilly business I’m speaking of!

Looking at lenders for 40-60k, little to 20% down - rehab loan up to 65k total in. Appraisal at 90k - the Refi is where I’m a bit foggy - how do I pull cash out to repeat the process? Or what is that next step in using the equity?

Thank you!!

Jeremy - new to BP