I'm a foreign national so my cash outs are capped at 60-65% LTV so even though I got great deals I still reached a point where my capital is now locked into these rentals.

Rather than call and inform me they were going to trigger the default rate (5 basis points higher), I learned through a mailing.

Do you lock my interest rate and when?

As for interest rate, I buy from builders for as low as 5.125 30yr lock.

You could also lock yourself up into a contract that is not in your favor for too long and miss out on other opportunities. 

Twice. lnterest isnt locked in and interest went up and he now mentions constuction paperwork with totals has to be reviewed and takes 30 to 45 days plus expect a back and forth. lm suppose to close soon. 

I just had to redo the grading and dry lock all of the basement because of leaking from the rain now this HVAC issue.

Also, read the contract very well before you sign because most PMs will lock you in a long-term contract.If this is your first investment, I will recommend you manage it yourself so you learn one or two things about landlording/property management.Goodluck man!

Keep sending offers out and you'll lock one up!  

I have identified the following people I need to have in place before I pull the trigger on a BRRRR opportunity 1.