Posted by Kristine-CA on November 13, 2002 at 22:28:33:
Depends on what kind of flip you are looking to do. Are you planning on doing anything to the property in 3 months or less? Do you need rehab or repair funds in that time? In that case, look for the cheapest funds available, with nothing down, no pre-payment penalty, no payments and a 3 month balloon payment.
But if you are not planning to do anything to the property, why get a mortgage? Why not use an option or purchase contract and assign it to your end buyer?
Sincerely, Kristine