Clarity on Cash out refi

[Charles Robinson]

Hello. New investor here. I was wondering if someone could explain how the cash out refi process works? I understand this is a strategy to make a ROI and serves as an opportunity to purchase additional property but I always get lost in the sauce when it comes to understanding the next steps of what happens after you pull the equity from the property being refinanced. If someone could break this down for me I would highly appreciate it.