Loan options and first timer

[Cosme Escamilla]

Im in the process of searching for my first possible buy and hold. Or a quick flip, i understand the type of loan you pursue depends on the strategy and goal you have set.. with that being said; would a buy and hold go through a bank? And a quick flip would be better with hard money? 203k For a BRRR? Please and thank you

[Mark Munson]

Hi @Cosme Escamilla

If you can qualify with a bank, that is going to be the best route for a buy and hold. However, if you don't qualify for whatever reason, then I would pursue a DSCR loan. As for flipping, you are better off in my opinion using a hard money loan, opposed to a 203k. It is vastly easier and the closing time frames are far more appealing to a seller, especially in a competitive market. Feel free to message me if you need some guidance and to see what options may be out there. Best of luck!