Good morning Mr. Willman,
I hope you knock the project out beautifully! Seeing that you will now have 1 'REO' (fix/flip, rental), which commercial lenders generally ask to see 1 on your mortgage history, I would love an opportunity to speak to you about a Refi-Cash Out on the project. I would definitely encourage to build up the LLC as 2 REO at Sherman Bridge Lending will allow for the highest leverage. Also, you're LTC will be higher the longer the property is owned, however, there is a fine balance between holding a property and Refinancing at an ideal time in order to save on the initial investment as USUALLY there is a 12 month, interest only term in place for Fix & Flip financing (assuming that this was financed using a private or hard money lender.)
I absolutely hope my feedback is more helpful than possibly confusing! I'm writing this on the fly.
NONETHELESS...GREAT JOB, EVERYTHING SOUNDS WONDERFUL, and I APPLAUD THE SPIRIT!!!
@Brad Willman You'll need to give some more details about your property in order to give you an accurate answer. What is the asset type? Location? ARV? etc.
Generally speaking, agency lenders (Fannie/Freddie) will give the best rates, but can have tough qualifications.
As a note to everyone, we can give the OP tips in general, but per site rules, can not recommend specific services/products/etc unless this was posted in the Marketplace.
@Brad Willman I would say you go to a few of your small local banks and chat with them in person about your needs. Shop around. Smaller banks tend to be your best bet.
@andrew Hello. The property is a SFH in Volusia County, FL. Just closed on it for 100k. Putting 25k in it. ARV 190-200k. Wanting to get it done and rented in 3 months. Projected rent 1450-1550 monthly. Wanting to refi and get my money out and move on to the next.