Financing Terms for 10 Property Portfolio

[Andrew West]

I have a ten property portfolio under contract, nine single family homes and one duplex.

This will be my first time using commercial financing and I'm curious how good the terms are and what my options are.

The lenders I have been working with have all been quoting me similar terms:

5/1 ARM, 6.5%, 10 year term, 25 year amortization.

What are your thoughts on these terms? Are they negotiable, and are there other options I should be looking in to?