Your client is new to real estate and wants to purchase a home to flip. Your client says I am going to sell the property within 3 to 6 months.

He asks you what type of loan should I get?

1. What is a a 30 year fixed (fully amortized loan) and what is a straight note (interest only)?

2. Should he get a 30 year fixed (fully amortized loan) or Should he get a straight note (interest only). Explain why?