Money for a flip-best way to fund?

[Kristina Heimstaedt]

Hi Everybody!!

Curious on everyone's thoughts here. I'm looking at potentially doing a flip with a partner. Partner is going to purchase the property all cash. I'm going to fund the remodel and manage the project and then we will split the profits when we sell. I'm looking at several different ways to fund the remodel and wanted to get input from everyone. I'm looking at the following options:

1. cash-I have the cash and could do so, but don't know that I want to tie up the money (50-100k remodel)

2. credit cards-I hear all the time that credit cards might be a great way to go. If so, curious as to which might have the best cash advance options or if I just pay for everything retroactively via cards.

3. personal loan- as far as I know, most personal loans have interest rates that are lower than general credit cards, which would be nice. However, if I do this flip efficiently, hopefully I only have the loan for 4 months.

4. construction loan-there is a developer in my area who I met who said he was getting rates at about 6% for construction loans and maybe that makes the most sense. 

I probably need some sort of equation to determine what exactly would be the right for me and this process. In an ideal world, I've got a very low interest rate for 3-6 months (below 5% would be grand), or 0% interest until a certain date when there is a balloon payment or an interest rate higher than 0%. Let me know what you all think. As always, thank you so much for your input!!!