007 - Rules of Thumb for FINANCING AND REFINANCING

FINANCING OPTIONS

• Max of 4 properties on a residential conventional loan
• 30 year is best for residential 
• Commerical will be a 5 year adjustable rate 

REFINANCE RULES OF THUMB

• We don't know any rules of thumb
• Do an IRR calculation
• Use NerdWallet's or Bankrate's Mortgage Breakeven calculators 
  • https://www.bankrate.com/calculators/mortgages/mortgage-refinance-break-even-calculator.aspx
• Keep the psychological benefit of not having debt in mind