personal loan take out

[George Carter]

I purchased a 4plex unit in March and the original owner carried a loan for 35% of the property and I paid cash to this owner of 65%. This was only a temp loan (9 months) and will need get a long term loan in place to pay them back. Would like to get a conventional loan with a 65-70% LTV structure. Wanted to know how I can pay off the personal loan and still take 65-70% of equity out of the property. Release the cash to buy another property when the opportunity arises.