BRRRR Refinance Explanation

[Michael McCabe]

Hi BP,

I've been doing a lot of learning about the realm of real estate the past 6 months and am looking to buy my first deal this year. After studying the BRRRR strategy the one part I'm still slightly confused about is the refinance portion. I have David's book and have watched the podcast episode about it, but still have a little confusion. Is this a cash out refinance? Whenever "getting your money out of the deal", or similar vernacular, gets thrown around I wonder what they mean. Any explanations are appreciated!