Re-fi before company has existed for 2 years?

[Jake Kellerhals]

My company was formed in early 2012 (LLC) and we currently have 28 units in 11 different buildings in the company name. We were able to finance most of these through a private individual, so our personal names are no where on the properties. The loans are fixed at 5% interest over 12-15 years and only required us to put 10% down. As we have always made our payments early over the last year and half, he has even mortgaged a few properties 100% for us lately. Our private financier is almost tapped out, and obviously his greatest value to us is in the acquisition of property since he funds 90-100% with virtually no approval process.

In particular we would be interested in refinancing 16 units in 6 duplexes and one quad all on the same street. We owe our mortgage holder roughly $430k for these properties. The gross income on these units is $9,125 month, they were built in 2003, so I think their value is conservatively $600k. We wouldn't want to pull out any cash, just refinance into terms that are as good or better (longer payback schedule) and free up his funds for more acquisitions. All properties cash flow pretty well considering their short payback schedule.

Our goals are to build a cash-flow machine through long term buy and hold. We are flipping as well, with the proceeds all going towards the next long term rental.

Two questions for the BP community:

1) do you know of any lenders that would refi such a property with our company being less than 2 years old?

2) Do you think our strategy is sound, or should we be thankful for the fixed term loans and move to more conventional financing?