Investor conventional loan for BRRRR in North Carolina

[Derrick Ward]

I working on my first BRRRR deal. I sent out a letter to a vacant property owner I found while driving for dollars. He answered my 2nd letter, and said he is willing to sell. I had a contractor meet me out at the property. The property does need rehab work to the floors, kitchen and bathrooms, some window panes, some roof shingles need replacing, and entire inside paint job.

I just met the contractor this Monday July18th, and am awaiting his estimate. I have already analyzed the deal with the BRRRR calculator, and know how much I want to offer, and will edit it once I get the bid from contractor.

When I contact the local credit unions and banks for an investment property loan, what type of loan do I ask for? I want the loan to purchase the property and rehab the property.