Financing with Cash Advance

[Jonathan Schooley]

My credit cards usually offer the opportunity to transfer balances or take cash advances with 0% APR for 12-18 months for a one-time fee of 1-3% depending on the current offer. How come I never hear of anyone using this to fund rehabs or deals? It could easily free up about $40-50K in cash based on my credit lines. I just wasn't sure if there is something I am missing with doing this or any disadvantages. Thanks!

[James Barnhart]

You can use them to fund rehab expenses.  I think a lot of flippers do that.  Just use then wisely.  And, if you didn't have a zero % card, and use one with 22%, as mentioned above, it's not so bad.  Just get in, get the job done and sell it.  You might have $1,000 in interest charges, but if you make $25,000 in 4 months, that's still a good profit.