How are properties refinanced?

[Donasiyano Nimagaritye]

I am confused on refinancing poperties to turn profit; can anyone explain to me what refinacing is in simple terms.

[Frank Procopio]

1) the money from a refi is tax free. 2) say you bought smart and rehabbed the property and we're into it for 60k but the aappraisal came back at 100k. If you had a bank do an 80ltv you would be getting 80k out of the property. Thus pulling out more than you had in