what would be the best loan to get on a flip?
I'm doing research on flipping a property. I have the lines of credit to pay for the GC and supplies. My partner and I will probably need to get a loan for about 60 - 70k to buy the home. My question is, what type of loan and from what type of lenders should we look for?
I understand that FHA is out of the question because of their flipping guidelines. From what I've heard conventional would be a good option but we'd like to avoid putting 20% unless necessary.
I was thinking of bringing in a partner that has a paid off home - in order for them to acquire a home equity line of credit.
Your wisdom and advise is greatly appreciated.
-Cheers