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Credit Cards as Quick Money for Real Estate Investing
| | Tuesday, September 02, 2003 @ 08:49 AM EDT
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Contributed by: Victor Blevons
Victor Blevons Properties
Read more archived articles about Credit and Finance
Many people do not really think about it but you can save a great deal of interest, especially with hard money lenders, if you have worked hard to attain good credit.
You can do this by utilizing the balance transfer checks that most credit card companies are sending you in the mail. A good deal of them have a 0% till March 04, or 1.9% till January 04, or 5% for the life of the loan. Even the Discover platinum has a 0% for the life of the loan if you make two purchases a month of $1 each. Most of these card do it for a flat per check fee of $50. That is a low cost to pay to write a $40,000 check to yourself for 6 months.
This can work as quick cash for flipping a property, or doing a rehab for a few months. If you do not already
have these types of credit cards, start searching the Internet for companies with good balance transfer rates / periods and take advantage of the resources you have sitting right in front of you.
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