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Updated about 9 years ago,
Nick RutkowskiPoster#2 General Landlording & Rental Properties Contributor
- Rental Property Investor
- Ithaca, NY
- 1,214
- Votes |
- 1,467
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Using Credit Cards to pay for property
Hey everyone!
I was wondering if it is a good idea to pay for a house ( or majority of it) using a credit card? Also, it is only a thing flippers/rehabbers use or is it a way all investors use? Or is this just a terrible idea in general?
I just got done listening to BPs 3rd podcast "Getting Started in Real Estate and Raising Money with Brain Burke". He started out by doing so when he was flipping his first house, although he said it wasn't the best idea it got him past his first deal.
I am still trying to figure out how I want to go about buying my first property and I know its not an ideal way but I'd like to know what you all think.