Hard Money Refi and Lending to LLC

[Nicholas Sheridan, Jr.]

I have such a headache trying to figure these questions out, any help would be greatly appreciated!

Scenario:

• Duplex purchase price $400k
• Down payment 25%

Questions:

1. I use hard money with a rate of 10% int with 10% down. If the duplex is turn key and doesn't need much in terms of rehab then how do I refinance after a year or so? If I don't have a way of adding value and building equity like in BRRRR then I am having a difficult time understanding how an investor would refinance to a 25% down conventional loan and lock in a good rate unless they sat on the property until it hit 25% equity.
2. My thinking is start an LLC, own it 100% then have investors put money into the LLC's account. I will pay back the investors with a fixed interest rate. Then I can use these funds as a down payment for a conventional loan. Question is, do only hard money lenders lend to LLCs?