Covington - Coldwell Banker Realty - 714 318 5006 Cell or 714 836 4471 Home Office -  US Army Veteran

The rate today for the 15/15 ARM is 5.125%. 

It gets even betterDeal Structure775,000 purchase price (remember I said the deal was worth 650)150,000 down (I used a LOC to pay this)4,500 a month for 48 months with a balloon at the end0% interest on the 4,500 a monthWhy I OverpaidFirst things first - purchase price when getting your terms is irrelevant and here is whyIf I would've gotten this deal at 650,000 like I wanted and financed it using commercial financing (5% interest, 20 year am, 5 year arm), I would have financed a total of 520,000.

I feel w/ the arm I would go 1031

It's right outside a military post, right off a main highway and in the midst of a ton of chain stores (mostly fast food), and mom and pop shops that cater to Service Members( barbers, dry cleaning, Army surplus etc...).

I have always introduced myself personally, never by a title (except in the Army).

Determine Assumability: As the first step, confirm with the seller whether the existing ARM is assumable.

Hey @Phillip WebbI survived in the ARMY and every duty station I was at I would at least pick up one property adding value buy doing a house hack and light renovations!

Fayetteville has grown a TAD over the last 9 years but nothing like the larger national economy and that is because it essentially has one employer that is not based on meritocracy (the army).

The great thing is you should always have tenants with the Army Base and steady income from the soldiers.