All Forum Posts by: Annette Barnett

Yes, that's correct Sasha. It's about the cash flow/cap rate. I have another similar opportunity in Texas already in place that has an ARM, but my highest choice is Atlanta. Without disclosing too much, in order to achieve a similar cap rate in one of these other cities, Atlanta, Indianapolis or Nashville, I'd have to have a 6.75% rate or lower and I'd be happy with a 10 year ARM fixed at a lower initial rate. Yes, perhaps a 40 year loan would make it workable? And yes, IO is a possible option as well . .

Would it make any difference if it's a DSCR ARM loan with the first 7 to 10 years fixed? Meaning, would anyone offer that lower rate, 6.75% or under, for the first 7 to 10 years?

Thank you so much for all the clarity!

Dustin, so where could I find this?  I'll be putting down around 300K . . .

Thank you

I believe my credit is around 740 or 750 and I will have a 25 to 35% down payment.  Not sure what you mean by leverage in this situation.  

Any recommendations? My plan is to purchase 3 to 4 new construction single family homes or 3 to 4 new construction townhomes, ideally in the Atlanta area. They may end up being under an HOA. I'm selling a property to do a 1031 exchange and this money will be the downpayment for the purchase of a new construction triplex or fourplex.

If I can't find this kind of rate or lower, I have another option, but it's in Texas and has high property taxes, which I would prefer to avoid.