where podcasts meet reality

[Stephen Sawrie]

so i now see the rub. have been researching this "smart leverage" method, aka BRRRR. makes all the sense in the world until you find out that my local banks have absolutely no appetite for anything beyond 10 year cash out refi. they will do 15 but will call it in 5 and either refinance at current (potentially higher) rate or just call it altogether. this is no big deal if you already were planning on putting in about 20%, but if you were trying to refi and recoup all your money it just ain't happening with a 10 note. furthermore, kiss cash flow goodbye.

i am sure i am missing something.  thoughts?  is the local banking similarly conservative in other markets?  what they tell me is that they wrote off a ton of bad debt on the overly leveraged SFHs in the past and simply don't have the stomach for it anymore.