Using Credit Card Cash Advance 0% interest for 12 months

[Michael Sothern]

Due to my lack of documented income (I am paid in cash) I have had a hard time qualifying for a loan. Credit score of 750+. Example of property I am looking to purchase: Credit Card Cash Advance: $30,000. Personal Monthly bills $500. Purchase price $60-80k Repairs: $5,000 Arv: $150,000 Monthly rental income $1,000 + Property taxes $2,000 Goal is to find owner financed property. Put $10-20k cash down using Credit card cash advance (12-18 months 0% interest) and make monthly payments to seller. Then do work needed & put renter in. After 6-12 months refi into standard loan. I would like to purchase a single family home and rent out to Section 8 tenants. Will I be able to refi before 12 months if I have used cash advance or will this option not work. I am looking to refi based on fact I have a cash flowing asset with equity. I imagine most lenders will not be willing to give me loan when they see I have used credit cards to purchase. Was hoping certain lenders will give loan based on cash flowing asset. Any advice would be greatly appreciated. Thank you in advance. Michael Thank you BiggerPockets. You guys educate & motivate countless amounts of people. Keep up the amazing work.