Is refinancing rentals with LendingOne my best strategy?

[Adam Craig]

I am a BRRRR guy- I have 27 rentals and counting. About 20 of them are financed through local commercial banks. Several years ago I called 30+ banks in Ohio to find 3 lenders who did my first 20 deals on a commercial loans. Since then my buying has been too fast for them to continue lending. These commercial lenders wanted to see my recent purchases season to see how they perform but the problem is I always have new properties coming in so the portfolio is never stable enough for them to feel comfortable enough to keep refinancing new properties.

My alternatives have been the national lenders - limaone/LendingOne/ect... I checked all of them out and settled on LendingOne who seemed to have the best rates/fees though they are still terrible and expensive compared to the banks that I miss so much.

Recent deal was 8/1 Arm at 6.75 over 30 years. $2700 closing costs on a 90K refinance - :(

Is this really that bad? Its nice to know I can continue to grow my business even if the lending side has become more expensive for me.

How are you refinancing rentals after you surpass the 10 conventional?