Hi BP,I am a new investor located the central jersey area, I see a potential house that I would like to fix and flip.

It’s already fixed up as of pretty recently, but the owners of it would probably give us a sweet deal, most likely.

I'm seeing terms of 5 years fixed interest rate of around 5.4%, 10 year fixed term or a 15 year balloon with a 20 year amortization.

The company makes life easier, so people don't have to worry about their commute or buying groceries or getting the bike fixed, because they do that on site (facebook has a bike shop on site of course), so you can spend more time and energy working on your projects.

@Sherwin Gonzales I contacted a local lender that gave me a 70% LTV so basically requires a 30% down payment at a 5.6% 30 year fixed.

Sorry my bad it is not a FHA loan, it is a conventional 30 year fixed rate loan with 20% downI did not lock rate for 7 months, for 6 I did but wasn’t told I will be charged twice for it.

The solutionI like fixed rate loans, even if you have to pay for it. 

About a couple weeks back I got a letter from the county that I am getting sued for not fixing the issues.

Ask them what their criteria are for properties (i.e. how much to pay, fix up work, neighborhoods, etc).

If you’re comfortable sourcing tenants, then you really just need a reliable handy man to look at or fix the small crap that comes up from time to time.