Refinancing for 1.3mm. 16 unit residential These are the terms offered by Lender......3+3+3+3+3+3+3+3+3+3 ARM, 30yr Amortization- 3.625% 5+5+5+5+5+5 ARM, 30yr Amortization- 4.25% 10yr Balloon, 25yr Amortization- 5.375%Which one folks?

Some people send letters, Some people make offers only on MLS peoperties and some do auctions.

So, I want to make an offer to this gentleman on his property for $300,000 with 10% down on a 30 year mortgage plan with a 5 year balloon payment.  

Another thing you might do before starting with investing is to get your financing fully appropriate from a bank or other source and give you a loan letter and a copy of it can be in your offers to make the owner more comfotible with you being able to close.Do not try to do everything yourself.  

You can pull deed transfer info, and mail a letter to anyone who has placed a private mortgage on a recent transfer. 123 Main Street - John Smith sells to Jane Doe, mortgagee Jimmy John for $75K You mail Jimmy John a letter saying you can earn him great returns. 

The debt automatically rolls over into P&I payments at the end of the interest only period and has a 5 year balloon amortized over 20 years (there are banks that will amortize 25 years, I've spoken with one that will even LOCK the rate for 20 years for a small premium). 

I signed an engagement letter this morning with a local attorney specializing in creditor matters.  

I feel good about my analysis, my offer, and my letter!

I tell them this when I write the preapproval letters (and I write a LOT of 3.5% down FHA 2-4 unit preapproval letters), but I wish them the best and invite them to prove me wrong. 

How did you initially plan to deal with that balloon in year 5?