$100,000k High Interest Loan to Invest in Real Estate ?

[Damon Gibson]

would it be a good idea to borrow $100k at an interest rate of 3% /month?  I plan to either buy a few properties (at a discount) that need rehabbing via hard money lenders.  I would then use the monies from the loan for down payments and other expenses.  I already have a couple of friends with very strong credit that  I would flip the properties to them for a profit once the rehabs are completed.  They intend to hold them long term as rentals.  I plan to pay the $100k loan back by June/July of this year.  Does this sound like a solid plan even though the interest rate is 3% per month?  I welcome any and all thoughts.

-Derek