I had a question about refinancing a private mortgage. A year ago I purchased a 50 % share of a mixed use property through seller financing.

The mortgage I hold on the property is publicly recorded and the terms of that mortgage are tenants in common with the right of survivorship. I would certainly have consent from my partner to do the refi. My partner is a family member.

The building is 7 units in a highly appreciating area. 4 are commercial and 3 are residential. We have spent quite a bit of time optimizing the property. Rents are now at market rate and all three of the apartments are newly renovated. It looks like the value of our building has increased significantly. My goal is to to recapture my capital that has been invested into the deal.

Is it possible to refinance the deal? If so, what kind of bank might be more likely to provide me with a refinance. How much of my half of the equity can i access?

As a hiccup the property is in a flood zone. We do not carry flood insurance as the property has only experienced water intrusion one time in it's 60 year lifespan.