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Updated over 9 years ago on . Most recent reply

User Stats

24
Posts
2
Votes
Chris Sickler
  • Flipper/Rehabber
  • Kansas City, MO
2
Votes |
24
Posts

Is anyone getting 30 yr. refi's on their rentals?

Chris Sickler
  • Flipper/Rehabber
  • Kansas City, MO
Posted

I talk to a lender today to find out about refinancing my rehabs to turn into rentals, but he can only give me a 15 year which makes it hard to return a positive cash flow.  If I could get a 25 or 30 I would be better off right?  Are there lenders out there that will give me that range on investment properties.  Also is there a max on the amount of loans you can get?  I have $250,000 in cash so that's not a problem, but I would like to buy 30 rentals this year, but won't be able to do it unless I can gain some equity on each of my refi's.  Any advice would be great!!

Most Popular Reply

User Stats

232
Posts
95
Votes
Nazz Wang
  • Investor
  • Maui, HI
95
Votes |
232
Posts
Nazz Wang
  • Investor
  • Maui, HI
Replied

Do a regular fannie or freddie loan witg a direct lender, like wells fargo or similar, and you will het your 30 yr amort easy. 

If you are maxed out on the number of loans, try credit unions. They have portfolio loans of similiar terms.

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