Cash and Brrrr method

[Shaun Reed]

I'm a super newbie. I heard on the podcast a couple times of some people who bought a house with cash, no mortgage at all, and used the BRRR method. I don't understand how you can refinance a house that has no mortgage? What am I missing or not understanding?

[Nicholas Covington]

@Shaun Reed it’s a cash out refinance. A lender just places a mortgage on it and give you the amount. Kind of like a cash advance on a credit card.