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Updated 8 months ago,
Using business credit cards to fund buy and hold. Help?
I've heard a tremendous amount about using promotional 0% interest business credit cards to fund buy-and-hold investment deals. Dozens of podcasts & articles explaining the how-to's and the advantages of doing this. Okay, fine. I get it.
However, the one thing I've never heard is how exactly you go about paying these cards back before the introductory period runs out and the accumulated interest bankrupts you.
The only option I can figure is that you (hope to) refinance your cash out and pay back the cards(?). This, of course, would require the bank appraises 20% equity on top of what you paid.
Additionally, if you got a loan on top of your cash advance (say, you only had enough cash for a down payment) then I imagine you're also paying loan fees twice.
This may all be fine and dandy if the numbers work, but is this a viable plan or a total gamble?