Introduction/Commercial ***SWAP*** Loan

[Kai Van Leuven]

I wanted to introduce myself on BP. I have been a Landlord for 10+ years. I own, manage, and fuss with 16 doors. All maintenance is done by me... I am looking to get out of that. We have 4 single family and a 12 Unit apartment complex. All of our (me + wife) stuff is nice and we have above average rents. I set no goals and take each property as it comes. If I see something I like, I try to buy it. We are in the Seattle Area so real estate has made me look a lot smarter than I am! **** Question***** I am doing a refinance on my apartment complex. I have been working with a local bank and they have talked to me about doing a SWAP. I think it sounds like a nice product if you are planning on owning for a long time. We are going to do a 20year term with a 20 year amortization schedule. They are quoting at 5.75%. I think it all looks good. I just don’t know anyone who has done one... I just turned 30 last week and am looking to hold this property into retirement. Any thoughts?