Paying Off A Property On A Credit Card

[Duane Hundley]

I purchased a property back in Aug using a credit card with 0% interest for 12 months with 4% trans fee. A little about the property:

it was a total amount $25,400, 

Rent: $500

Expenses: $40 per month

Paying: $460 per month current towards credit card

I have another credit card already with my credit union that's 7.99% and my plan was to roll it over to it around Oct 2017. I was also planning to start paying extra on the property using my own cash flow starting in Jan from $500-$700 extra per month.  This would put my balance around $13,960 at paying the $500 extra from Jan until Oct. After moving it to the other card for a few months I most likely could roll it back to my 0% card and get a promo rate for 0% again. I thought about then just paying the $460 a month for around two years and that would pay the property off.

While doing this I won't have much money to put aside for other deals, but once it's paid off I should be able to fund another deal pretty quick, I want to get two more properties for total of 4. What are your thoughts or what would you do different? I could pay it off before Oct of 2017 and pay no interest at all, but I won't be able to do any other investing. I also want to add a close family member lives in the property.

Thanks,

Duane