Fix and Flip Loan VS Line of Credit

[Danielle Alba]

Hello,

I have begun flipping/hacking houses and am seeking better options for funding my projects. What is everyone's take on either using a small local bank, banks that do "fix and flip" loans, or private financing? Using private financing is what I have done for my last 8 projects. These rates have been from 10-14%, interest only and usually $20k down minimum.

I am looking for an option that would provide a lower interest rate and/or higher loan amount allowing me to do more projects annually.