best loans for a first flip?

[Hugo Solorio]

I am new to BP and I am interested in starting off flipping houses. I am still a while seats from feeling secure enough to jump in so here's a question I have. Which loan would you recommend or do you use for a first flip. I would be a first time home buyer assume a 5% down payment availability and that would be all the capital I have for now. Should I go arm 30year 15year interest only 203k construction loan?

[Marcus Johnson]

@Kay Lee You stated that your lender thinks a Conventional and an Arm loan are the same thing, I'm sorry but that is hogwash. An Arm is an adjustable rate after so many years which means it probably will go nothing but up since we are at all time lows and a conventional is fixed. So the problems with Arms is that we all think nothing will ever happen and that we'll be able to sell by the time the fixed period is over. Just wanted to throw my two cents in. :)