Annual feeler for fixed long term financing

[Kenneth LaVoie]

Hi all,

I have a mix of 1-4 unit and 5+ unit properties. I am always on the lookout for what I call "fixed rate full term" financing for any of my loans. In other words, the mythical "30 year 5-6% fixed rate for life" loan that I've HEARD of but not yet bagged. 

I came close once but because my buildings are all owned by an LLC none of the banks (even local portfolio lenders) seem to want to sign off. If I took a 4 unit out of the llc and held it in my name I could get 30 year, 4.75% financing, locked in for the whole 30 years. Leave it in LLC and I'm getting 20 year, 5%, re set every 3-5 years (I can lockin in for 7-10 if I want to pay 6-6.5% which I've actually done on ONE building just to diversify my debt a little).

I also got 7% on a 11 unit at 6% even which I consider acceptable. I would SO like to find a real genuine "locked in for 15-30 year loan" -- if anyone has any leads I'd be eternally grateful!