Credit card lines of credit

[Tom L.]

I have an opportunity to get several credit cards who's limits will exceed $50,000 combined. Does anyone have experience with this type of funding for real estate?

One of my concerns is that I won't have access to the credit without taking cash advances at upwards of 25%, as these cards will not have access checks. This seems like it could be devestating to my profits if it takes 6 months to rehab and sell a property.

Am I missing something, or are there ways to use credit cards as down payments on propertywithout cash advances?

Thank you,

[Henry L.]

I have used credit cards for funding other businesses. You don't pay 25%. You either venmo/paypal/square yourself money off cards at 2.9% (venmo has 6k at once max so be careful) or ask for checks and it turns into cash at 0 cost. 

The good apr cards are longer then 12 months. Even if you go a few months over its still cheaper then a lot of loans. You should only use credit cards if you are 100% confident in the deal though as if go long over could be a disaster. 

I also financed 5k of my car off a 21 month 0 apr card and just set it to auto deduct the exact amount monthly so it will be payed off in full after 21 months.  Buying off craigslist car in cash allowed me to get car way below dealer price and pay just a few hundred in taxes vs thousands in taxes at dealership (IL laws) plus no interest or dealer fees. 

How are you getting 50k line of credits? Combining cards?