All Forum Posts by: Jacob Nawrocki

First post here and I appreciate your help in advance.

I have 7 four family buildings and one single family rental and I am in the process of refi with Fannie Mae and Freddie Mac.  In the next week or so I need to decide if I plan on putting them on a 30yr or 15yr mortgage.  I understand the difference in interest, payback time, and amount of $$ back in my pocket per month but I cant DECIDED......... I am loosing my mind. 

1. I refi to all 30yr at or around 3% save $1800 per month just in mortgage payments. 

*Its unlikly to lock in all this money at such a LOW % rate for 30 years, The extra $$ per month is a really nice bonus. 

2. Refi four buildings at 15yr and the rest at 30yr.  This would allow me to keep somewhat the same income (I would loose 300$ per month) but doing this would build more equity sooner than later.

My plan is to buy more properties and an owner next to a four family hinted he will sell off 5 multi unit buildings in the area I invest in in the next 2-5 years, Nothing offical.  As I type this the easy answer is half and half but missing out on that extra cash flow is hard to pass up.

Any suggestions from people in a Similar situation???

Thanks for your ideas/help

Jake