Renovations on a 0% APR Card (Hoping for inspiration stories)

[Steven Foster Wilson]

Like most I so badly desired to jump into real estate. The only problem I had was that I had no money. I was able to scrounge up 15k through family for the down payment, but I had no money to enhance the property I was buying. I was hoping to enact a BRRRR strategy.

So now here I am with tens of thousands of credit card debt with 0%apr until March 2020. Constantly I doubt my refinance value, I feel like Im making a mistake.

Has anyone else had a similar story where they floated the renovations but it paid off in the end? Im hoping for some inspiration.

[Frank Wong]

Originally posted by @Jim K.:

@Steven Foster Wilson

The milk is spilled now, Steven. You don't need inspiration. You need to start communicating as much and as openly as you can and get every ounce of help out of the BiggerPockets community that you can.

Apparently, you bought a fourplex for $305,000. You have $40K in the deal. So you have $25K in 14-month time-bomb debt?

Lay out the rest of it, man. There are plenty of self-centered Smuggy The Magnificents here to tell you you're no good and they would have made different choices, but there are plenty of others like @Frank Wong who are willing to help you.

 Hi Steven,

I don't know the whole story but I know Jim speaks the truth and I value his opinion.  Whatever real life scenario you are in just lay it out or DM me and I will try to help with a solution.  Investing is tough and people make mistakes all the time.  No judgment here just honest advice.