Posted by crazy 8 on December 07, 2003 at 18:49:39:
15 years ago i purchased a duplex at the south new jersey seashore for $ 310,000 .I have no mortgage and no debt .My credit score is about 850 . The current value of the duplex is 1.5 million. I and am knocking the duplex down AROUND MIDDLE OF DECEMBER I will have to refinance the duplex for $400,ooo in may when the new duplex is complete. The new duplex is estimated to be worth consevatively over 2 million … I plan to rent the 2 condos for the summer season and make the shore residence my full time residence in the off season in september .THE INCOMES FROM THE DUPLEX S/B
CONSERVATIVELY $60,000 AS THERE ARE OUTSTANDING OCEAN AND BAY VIEWS with every amenity possible I have been investigating option arm mortgages . i like the mta best and would like to pay interest only and invest the principal i would have paid in a money making account . i have also been investigating cofi ,codi,cosi and libor option arms .
WHAT TYPE OF OPTION ARM DO YOU BELIeVE IS BEST and where shoud i invest all of the principal payments i will be saving by paying interest only??
I apprecate your input … . crazy 8