Refi part of BRRRR strategy

[Brad Holtzman]

Hello! Trying to figure out the refi part of BRRRR. If I buy a property for $260k(put 25% down which is $65k and have a loan now for $195k), rehab the property for 30k(total in for $290k) and it appraises for $300k, now I can take 80% out and get $240k for me and my new loan is for $240k? Is this correct? If not, how does the refi part work to get at least my money back and possibly more? I keep hearing different things so please help.

Thanks

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