Financing / Refinancing Question

[Alden Cleveland]

I was just told by a mortgage professional that, 'If it’s a single family home, you can take cash out of the property up to 75% of the original purchase price you paid in cash'.

The questions was, "if I purchase a rental property with my cash, instead of Hard Money, and I decide to re-fi the house, how much cash can I get back out?"

Everything I read about the BRRRR strategy says, 'you can get your money back, and maybe even more, based upon the value of the rehab'd property'...this seems to fly in the face of the strategies efficacy.

Any guidance appreciated -