Having Trouble Finding A 30 Year Portfolio Lender

[William Eric Schaefer]

This problem only applies to the Refinance portion of the BRRRR process. I am having trouble finding a lender who will finance a 30 year loan on a SFR rental property. However I have talked with a lot of small banks and a few offered a 5 year ARM with a 20 amortization. The 5 year ARM would work with the properties I am looking at but that obviously decreases cash flow. My biggest concern is giving up the extra cash flow I would get on a 30 year amortization opposed to the 20 year.

Is this because of Covid?

My ideal lender would offer a 5 year ARM with a 30 year Amortization is that too much to ask for😂??

Also I am aware that I can put properties in my personal name and qualify for a conventional 30 year mortgage but I currently do not have the income to acquire more than one mortgage.

I am located in the Birmingham area any referrals would be greatly appreciated!