Purchasing a REO using 0% Balance Transfer

[Justin Tahilramani]

Hello,

Just looking for a little advice. I have an REO that I am considering making an offer on. I feel confident about the numbers, but I wanted some advice on using a 0% APR CC Balance Transfer to float the purchase for about 15-18 months. The purchase price of the house is right around $35,000. I have very good credit and the income necessary to pay off the balance before the 0% runs out. What are your thoughts on venturing down this road? My wife and I both have VERY stable/well paying jobs. There is zero chance of either of us losing jobs/incomes in the next 2-3 years.

Thanks in advance!

Justin

[Bryan L.]

@Justin Tahilramani - I have 3 of these cards that I use for house flipping. The way to do it is to have other lines of credit that have check writing capability (or cash). Then transfer the balance to the credit card. That way your fees and interest are much less.