Need advice on how to Refinance a Non-Warrantable Condo

[Mel K.]

Hello Everyone,

I am considering purchasing a cash-flowing Condo by seller financing. I know the seller , being a family member, will be okay with financing it for a few years but will want a lump sum payment in the next few years. My plan is to try to refinance in a year or two. Will a Portfolio Lender be the only one that can help me? How difficult is it to refi a condo as I have never done so before. What sort of LTV can I expect for refinancing a non-warrantable condo?

I am interested in the property because it has a long-term tenant and will cashflow easily $200/month.  Thank you.

Mel