BRRRR loan structuring

[Mike Chang]

Hi there, I'm in the process of acquiring another single-family home for a BRRRR. I have for the past used conventional loans that came with a six month seasoning period before eligible for refinance, which is somewhat time limiting. Then when refinancing it required substantial closing costs which my banker says it's a new origination/appraisal ..etc. Commercial lending seem reasonable with built in loan for rehab too but how do you negotiate a fixed 30 yr rate with a commercial lender during refinancing? Most commercial lender I approach says after 5 yrs the rate is variable. I'd like to see what other BP members' experiences are in structuring their loans as to reduce cost for BRRRR buy and hold. Thanks!