Financing a fix and flip through a traditional bank

[Jodi-Ann Bennett]

Hello All

I am a Newbie looking to do my first fix and flip in the New Jersey area and I currently have a property under contract. I am thinking about getting a loan from a traditional bank since the interest rates are not as high as the private money lender. My lender has informed me that if I get the loan and I sell the property under a year then this would be flagged and there could be some implications. So my question is, anyone used a traditional bank to finance the flip and sell in less than a year? Did you get in trouble for doing so?

Many thanks for your response.

Jodi