How I Launched my Real Estate Flipping by leveraging 0.0% APR CCs

[Jeff Filali]

How I Launched my Real Estate Flipping by leveraging 0.0% APR Credit Cards...

I’ve only been a full-time real estate investor for the past year, but have had a lot of success already.  So, I figured I'd share my full story to maybe help others just starting their journey into Real Estate investing.

I started with only $30,000 cash saved up to invest with. Within my first 10 months investing, I was able to flip 8 properties, and build up my available capital to over $100,000, and have mailbox checks coming in monthly already, with ZERO debt, by not taking on any long-term mortgage loans, here’s how…

First step, locating my first potential flip that could be purchased for under $30,000 cash. I researched for a few months, battled through “analysis paralysis”, but finally located my first property, which was a foreclosure that I was able to pick up for around $10,000. I figured it was a great one to start with, worst case, I’d only take a small loss. Within 30 days, I was able to flip it for a small profit of just over $5,000, but more importantly, I learned so much.

Now I had $35,000 cash to invest and started thinking outside of the box, as I didn't want to take on debt yet. So, after careful research, I opened four credit cards that offered 0.0% APR intro for 12-18 months with Chase (Ink, Freedom & Slate) and Capital One (Spark). This combined with my cash available, gave me just over $60,000 to use to expand my flipping, without taking on any mortgage loans, or paying any interest.

So, next I located and flipped my second property approximately 90 days into my journey.  Made just over $10,000 on that flip, which left me having a little over $70,000 in interest free money to continue investing and flipping.

The next property I purchased, I lucked out from hard work searching and was able to get a great deal on it, and it was in an area that a lot of other investors were flipping properties. My original intentions with this property was to rehab it and keep as a rental, as it was in a major college market. But, I decided to try advertising it “as is” first to see if any other investors may be interested in buying it wholesale from me and taking on the flip themselves.  I received a lot of interest and accepted an offer 11 days later, and closed about 25 days after purchase, for a quick profit of just over $22,000.

Now I had built my capital and available 0.0% interest credit up to $95,000.  That’s when I got serious about the business, and started putting some money into advertising and direct marketing my business.  I built my websites with help from Investor Carrot, after many BP pro's recommended their service.  I did direct mail campaigns with Yellow Letters, also from recommendations from other BP pros.  I added in Craigslist ads, Google AdWords, FaceBook ads, and was "all in" now.

Over the next 120 days, I was able to purchase and flip five more properties, and finished my first 10 months with only taking on one small loan, which I paid off within 90 days. I had grown my available capital to well over $100,000, plus still had the available credit at 0.0% APR, and also had a few properties I sold with seller financing that will generate on-going cash flow, and great CoC ROI for several years.

I've learned so much the past year, and most of the knowledge came from the many great people on BP, who were all more then willing to share their vast knowledge and guidance.  Where else can you network daily with experienced investors, who have been in the game for many, many years and a lot of them are millionaires from the real estate industry... Thank you BP!!

My advice to others just getting started… Just do it, jump in feet first and start, don't have "analysis paralysis". Find a way, think "outside the box" and get creative. Look into using 0.0% APR credit cards to leverage your flipping business, and always ask for help.

2017 is going to be a great year!!

Good Flipping!! - Jeff