Just purchased double 4-Plex Seller Financed hoping to Refinance

[Cody Begg]

Hey All BPers,

So, I stepped outside of my comfort zone in investing thanks to BP Podcast inspiration!  I was inspired by all of you saying "Just Do and you will learn".  

I found a property that passed all of my litmus tests: numbers listed below, but here is my question.

I am relatively confident that I purchased a deal with some equity already built in, by seller financing the deal.  Now what I want to do is re-finance and possibly pull some equity or at least get out of the seller financing deal to lower my rates?  This is my first deal of this magnitude...Hoping for some direction and options!  

How do I refinance before the seasoning period? Or should I wait 6 months?

2 4-plex properties (side by side)

purchase price: $318,000

Estimated Appraised value $400K

Seller Financed on 2 liens 1st lien 80% LTV 20 year note at 9% second lien for 10% for 2 years at 9%

10% out of pocket.

Monthly Rent of $4,200

Annual taxes of $4K

Insurance of $2K

Self managing at the moment.

Any suggestions??  I would love to finance enough to pay both liens!