Need Feedback on What Choosing Loan Options

[Geoff Antone]

Hello, 

I'm a bit new to this forum. I recently have been approved for a Chase loan for about 130k. This is a business loan at about 8 percent which is a little high. 

I am considering using this and/or some other loans to do my first flip. I've also been offered a similar loan from Wells Fargo. 

My assistant and I are looking into possible Dallas or San Antonio to do our first flip. Just trying to figure out what options would be best to pay for the first flip. 

I am thinking I could get a 15 year mortgage on a house for the flip, try to get a house for no more that 150 to 170k.  Put the down payment from my own personal funds. Then use some of the loan money to fix up the property. 

Any thoughts on what the best loan option mights be? I could potentially take out both loans at the same time to have access to capital and build my business credit for future loans. I wonder if I take out that first loan I may not be approved for other loans, like a conventional loan. 

Not sure if I should just do a hard money loan that would cover buying the property and a flip instead.