Purchasing a condo with hard money

[Jim Owens]

I am purchasing a small condo for 35k and it is worth about 70-75k. I am using hard money to purchase this condo and the hard money loan is good for one year. I would like to know if there is a way to refi the property with traditional financing within that year period to lower monthly cost. Also is there any way to pull out cash through a refi up to 70% to purchase a second property? I have been told that this is possible but having trouble finding a lender. I am in las vegas,nv. Thanks for any help.