ARM vs fixed rate mortgages
In my search for lenders here in Nashville, it seems as though there are two options each with varying terms from lender to lender. There is usually some kind of fixed rate mortgage I can obtain (80% of purchase price, 70% of ARV, etc) or some kind of ARM. I always cringe when they talk about the ARM because it just seems so risky. Can someone play devil's advocate here and tell me why an ARM may be beneficial to me as an investor? It seems like if I were going to sell in a few years before the renewal period that would be the way to go but not if I want to hold these properties for the long haul, right? All feedback appreciated!