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Updated over 11 years ago on . Most recent reply

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Dan Mata
  • Chicago, IL
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Need help transferring 100k in credit cards into cash for real estate investing?

Dan Mata
  • Chicago, IL
Posted

Hello, recently acquired 100k in business credit cards for my corporation from a number of banks. Interested in feedback on how to turn 40k into liquid cash to purchase real estate..the credit card companies gave me 0% interest for 12 months but does not include cash advances. I have a good paying job to make the payments and very experienced in buying and rehabbing real estate. My personal credit score is 800? Any suggestions for transferring my credit cards into 40k and up into cash?

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Andrew O.
  • Real Estate Investor
  • San Clemente, CA
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Andrew O.
  • Real Estate Investor
  • San Clemente, CA
Replied

Buying coins from the mint? You may be able to find someone who run it through their merchant account for a cut. There would probably be a 3% cc processing fee, plus whatever you would have to kick back to someone for the privilege. Don't know about the legalities, but you may be able to save a few points against private money rates.

Just throwing ideas around, hopefully someone more versed could enlighten the both of us. Are they cash back cards?

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