Need help understanding the refi part of the brrrr

[Brian Kilpatrick]

To start off I’m TOTALLY new to real estate, and have been wanting to get into it for a while. So I’m finally taking the leap. And need someone to help me understand this.

Ok so I’ve listen to Brandon on his podcast, watched his YouTube videos and watched several others talking about the brrrr method, and I get it....except for one thing. In everything I’ve read/listened/watched they say you are just made “x” on the deal. Say for example I find a house for 100k. ARVs and comps show houses valued at 200k. Spend 30k on renovating, rent the place for say 1000/ month and refinance at 160k. My all in is 130k but now I have a loan for 160k so I have 30k in equity. Now here’s the part I don’t understand. Everything I’ve found on this says you just got paid 30k, but it’s a loan. Loans have to be replayed. How am I making any money other than rent? I see this money could go back into finding another property, but I’m not actually being paid the 30k free and clear. Or am I misunderstanding something?