What type of financing for first this first project?

[Bry Thomas]

Hello all, this is my very first deal/project and it is a good ol flip. I have been scouring BP for a while now reading the blogs and listening to the podcast. I'm feeling very confident in the property and the team I have in place to help me finish this project. But I have come to my first snag..

Im not exactly sure how to go about acquiring/financing the deal. This property was my mom's for several years and is actually the house I grew up in. She is willing to sell it too me for cheap, $20,000 but it needs a good amount of repairs/cosmetic work. After having a few estimates performed I need roughly $30,000 to complete the job, but I would like to have about $35,000 on hand in case something comes up. Because I know that is inevitable.

My main concern is having the money while I have the work done. I know I could go through hard/private money lenders but for this first project I would feel more comfortable dealing with more traditional bank financing. Does anyone have any suggestions on the types of loans that I could pursue or have any ideas how to go about financing this project? I'm

I live in Wichita, KS and the property is in Independence, KS which is roughly two hours away. I will be taking 3 to 4 days a week to travel to the property and work on everything. I am 22 and out of school. I have about $17000 in the bank as savings but dont want to delve into that unless absolutely needed and I have pretty good credit. My goal is to the potential gains on the property after sale to begin investing in buy and hold rentals here in Wichita.

This is a link to the album I just posted to facebook. A bunch of before pictures with afters coming before too long! Any help and advice is immensely appreciated

https://www.facebook.com/bry.thomas.96/media_set?set=a.10203772993502209.1073741826.1140099235&type=1