Within the last month, we closed on a traditional 30 year fixed mortgage based on W2 income on a property in TX (we actually lived in a different state).

Buy cheap, fix up, rent, repeat.

I'll be starting my full time investment business (mainly fix/flips) in mid-August.

Months ago, he asked me to find out what kind of rate I could get with my bank on a 30-year fixed mortgage, which was about 5.5%.

How do you come up with an interest rate, in my research I found that the interest rate is normally higher than regular 30 year fixed rates but is there a general rule of thumb on how you come up with this?

Then, once the improvements are 100% completed, and the interest only period is up, the loan will convert to P&I payments for a fixed 5 year period.

Ive been able to negotiate 50% commission back on the buy side and a fixed fee on the sell side. 

I should be able to raise rent here shortly to fix that.I am looking for a deal and hopefully we are able to pull out a equity loan to utilize as the down payment for our next property.   

While there are fix & flip opportunities there, the market to a larger extent is very active between Memorial Day and Labor Day. 

New guy arrives, sees weird equipment, doesn’t know how to fix it.