Second Home Flip. Best place to get loan for Rehab work?

[Diego Ortega]

Hi guys,

My family and I are on our second flip. The first one went well and was so much fun! Made a profit and learned a lot. That one took a while (7 months) because it was the first and also because I paid for everything using cards and my own cash. For the next one I'd like to use a loan that I would pay back in 3 months. Here are the details:

-Already purchased the home mortgage and close tomorrow. So I don't need hard money for the house. We are very confident with the numbers on this one.

-Estimated rehab cost is 55k, including holding costs, etc.

What do you think is my best option to get that 55k so I don't pay it out of pocket? I used lending club for like 6k on the first flip at the end to test them out. My credit and income are great, but they charged an origination fee which i thought was a little high. Also, they only loan up to 40k, which includes the fee.

Should I just go to a credit union and open an account/ask for a personal loan? I don't want to jump through hoops and provide reciepts, etc to use the money. We are DIYing most of it for profit and working full time on it.

Thanks in advance for any advice!

-Cheers,

Diego