30 year Financing and other Questions

[Dwain R.]

I have become a regular listener to bigger pockets and I’m a new real estate investor. I closed on my first deal in September (Quadplex and a House) and am under contract now for an 8 unit apartment complex. It seems to me the majority of time people in the podcast are talking about analyzing deals and cash flow and their goals they are basing it on a 30 year Finance. My first question, is: Is it common to find a 30 year Finance on an investment deal? Because in my area, banks will not even consider that! And they typically need board approval to even get 20. They push you hard to go 10-15, but I have been able to secure 20 at least. So how are people finding 30 year Finance deals on investment properties? Next question.... This also makes a MASSIVE difference when you are analyzing cash flow for properties. I hear on the podcast and things I read such as take your debt service, taxes & Insurance, maintenance, vacancy, mgmt, and perhaps cap-ex and then shoot for $100 a door after that. This seems to be brought up ALOT on the podcast, but is this typically based on a 30 year Finance? Because when dealing with 15 or 20, that’s much harder to do. Doable but harder. When people talk about the 2% rule, does this change based on Finance term of the property? It just seems like I do not hear many dealings on the podcast with 15-20 year terms. Just curious....