Is a Commercial Brrrr possible?

[Ryan Carter]

This is a completely selfish question but maybe the conversation will help others in the future that are in my position. I purchased a commercial property back in August of 2017 and have been slowly throwing money into it. Looking ahead I’ve started reaching out to local banks about refinancing and pulling my cash out, but I’m running into comments like “there’s no such thing as a long term commercial loan” or “Why would you want to do that?”. I’m getting more crazy looks than I originally anticipated! Currently I have the property financed with a 5 year commercial loan, amortized 20 years at 5.5%. Has anyone else successfully Brrrr’d a commercial property? If so, would you mind explaining the steps that were involved that would differ from a residential Brrrr?