Hard Money

[Ralphy Rosado]

Hello first i want to thank you for reading my question. I am looking to buy more rental properties faster. I would like to pay in long term loans with an interest that super low. I found someone on craigslist who will offer me 20,000 for 12% annually with 3 points. i can rent the property out for about 800 to 1000 a month. And my purchase price will range from 15,000 to 20,000. At 12 percent I told I just pay interest monthly of 200 a month till I pay off the 20,000 back. I feel I can make money but I also feel like paying that much monthly is better for a fix. Any recommendation on what I should do. I also have 4 rental properties now that I bought with my credit cards. I wanted to refi the houses and cash out but I can't from my understanding till I get my debt to ratio down on the credit cards. Any pointer thanks all is appreciate it. Again I don't know if I should continue getting my self in more debt if Im profiting monthly