Should I Take a Personal Loan to Fund a Flip?

[Tim Crosby]

I'm looking at using a HML to fund a flip. To do that, many of these places want 10% down to fund a deal. I'm looking at a PML pr someone I know more personally to help out, but most people I know see those flipping TV shows and think this is all just silly! I'm also looking into the possibility of partnering with someone, but that has it's own challenges too. So, as another option, I'm considering a personal loan! My credit is good enough, I could probably get a loan like this to fund that HML gap, but is it a good idea? Their rates are similar to that of a HML so I don't see much difference there, but BP is good at pointing out things I'm missing.. so tell me, what's wrong with doing a personal loan to help fund a flip? What's your experience with this??