How can I get a 30 year loan?

[Brian P.]

I have several properties that cash flow very well average is $450/ month after financing, taxes, capital expense reserves, etc. I have two different financing banks. Both offer the same terms with a 10 year loan adjustable after 5 years. In reading other posts on BP it appears as though folks are consistently getting 30 year fixed loans. I'm not FHA eligible, and am not house hacking (my wife would kill me). How are others getting 30 year mortgages with competitive rates? Or better yet from where? Thanks for the help!

[Russell Brazil]

If you are holding the property in your own name, it shouldnt be an issue. Conventional Fannie/Freddie loan you can do 30 years. If you hold the property in an LLC, then you need to use commercial loans which are typically shorter amortization schedules and usually adjustable rate.