BRRRR, LLC, and Balloon Loan vs. Conventional Mortgage

[Derek Davis]

Hello Everyone. I am new to real estate investing and had some questions. I currently own a commercial rental property valued around 125k free and clear in my name personally. I have a good credit score around 800, about 60k equity in my primary residence and annual income around 125k. I am looking to take an equity line of credit on the commercial property to purchase a single family residential property in Virginia, where I live. I am using the BRRRR strategy and hoping to not leave any money in the deal so that I can continue to purchase more properties. For purposes of limiting liability and also creating the potential for expansion, I was planning to purchase the property in an LLC. (The LLC is new and I would be signing as a guarantor) From what I am hearing from lenders, I only really have two options to consider. If I refinance in the name of the LLC, I will be looking at a 5 year balloon loan on a 25 year amortization schedule. If I refinance in my name personally, I would be able to look at a long term conventional mortgage.

1) Are there any options out there for a long term loan (20-30 year) from a lender for a rental property owned by an LLC?

2)   What has been your experience with your lender to just keep rolling your loan over into new 5 year balloons every 5 years?  I am not a fan of the risk involved in the 5 year balloon loan being called due.     

Any thoughts or advice on anything else I might be missing is welcomed.