Credit Card Personal Loan

[Jack Miller]

Hello!

My name is Jack Miller and I have been investing for about a year and a half now. I live in the Oklahoma City area and have 3 units under my belt, all of which have been owner occupied loans. At the rate I’m wanting to grow, I’ve found that I cannot make money fast enough from my job to fund my vision so I’ve had to start looking at other opportunities.

The BRRRR strategy is the new route I'm wanting to take so I can begin to recycle my money and reinvest at a quicker rate. I recently received an offer in the mail from my Credit Card company which pre approved me for a 35,000 personal loan since I've been a loyal member. This would be enough money for me to fund my down payment on a hard money loan.

In summary, my question to the forums is would I be able to do this or would the lenders not recognize a personal loan as a valid form of down payment? Is this even possible?

Thanks in advance for your time in reading this and I hope to get some clarity soon!