What would you do with a $100k unsecured loan?

[Jesse O.]

HI BPers,

I currently have a $100k unsecured loan (10%) available to me and was hoping to use it for my first rehab and sell property. I have not been able to get any offers accepted for the last few months. The approval will run out within the next month and I recently had to reapply for the loan because the last one ran out. The bank won't give an extension on the approval and I really don't want to keep getting credit inquiries on my report if I'm not going to use the money.

I've been leaning towards and toying with the idea of possibly purchasing a buy and hold property (or 2) to add to my two current rental properties. My worry is that at this interest rate, cash flow could be a problem. I know I would have to refi and hopefully get cash out, but I'd have to deal with this interest rate for quite some time, right?

What would you seasoned pros do?

Thanks!