Finance the house - There are multiple ways to finance your flips.
Hard money lenders - These are groups of investors that offer short-term loans at a higher interest rate than a traditional bank. They are more interested and generally base the loan on the ARV instead of solely on the borrower. Though this can seem intimidating to the new investor, these groups can actually be a great partner in a new deal- as they will let you know if you’re getting in over your head or if you’ve got a bad deal up front.
Private Lenders - These can be friends, family or a small group of investors similar to hard money lenders. Often they will give a better rate if you have a personal relationship with them.
Conventional loan from a bank - These can be a little bit tougher without a previously established track record because banks don’t generally like to lend on homes that aren’t in great condition.