Help!! When do I refinance my building ?

[Alexis Zion]

Hey folks,

Want to get you opinion. I bought an 8 unit building last year. Besides having to renovate and get all new tenants, I did a bunch of work with a new heating system (all new individual units) so the tenants now pay their own heating bills. I got the building for $150k...it appraised last year at $230k..I owe about $100k.

I had to put the furnace project on my credit cards--a lot of money. Fortunately, I have 0% interest on my credit cards til June 2015.

I showed a big loss on my taxes because of all the work I did in 2013. The building is now filled and for the past few months I have been at full cash flow with minimal expenses!!!

Now for my question. I really want to get the furnace cost off my credit cards. When would I be able to refinance? I don't know how banks think or what they are looking for. Do I go back to the same back or choose a different one? What do I need to show the bank so the big loss from last year doesn't make them turn me down? I would like to be able to do this without killing my credit.

Honest opinions please.

Thanks,

Alexis