A real-estate investor who owns 35 units has never bought a home with a traditional mortgage. She explains how she uses 0% APR credit cards to fund investment properties, and why it's not for everyone.
is 6.59% as of July 2023) and she'd rather take on more risk by funding a purchase with a credit card that offers 0% interest for the first year, which is"essentially a free loan," she explained.
"Once the funds are directly deposited into my bank account, that is when I get the cashier's check or do the wire transfer to purchase the property."experts typically recommend against doing a transfer like thisHamilton doesn't recommend rookie investors try this strategy, either, unless they consult with someone who has successfully purchased real estate this way.
After purchasing a property, Hamilton will fix it up to rent it out and then refinance to get cash to pay off the balance transfer. "While it's 0% interest for the first year, if you don't pay it off, now you've got the highest interest after that one year is up," she explained. Thewas 20.92% in the first quarter of 2023."You have to make sure that you are able to execute and complete the project in a timely manner."
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
My Kid Thinks Being 18 Means She Can Do Whatever She Wants'While I don’t love the Tinder profile and medical marijuana card, I also can’t technically stop her.'
Read more »
Woman Tells Congress She Nearly Died from Abortion Complications Because She Feared Jail Time“I almost lost my life that day,' Dr. Love Holt told House Democrats at a roundtable on Monday.
Read more »
Ariana Grande Spotted Sans Wedding RingAnd now tabloids claim she and her real-estate husband have separated.
Read more »
Lottomania hits SoCal as lines build for hopefuls seeking winning ticketOne L.A. woman said if she won the jackpot, she wouldn't tell her family.
Read more »
Emrata Just Debuted A New Copper Red Hair Color For SummerShe said that sometimes she just needs 'a change'.
Read more »
Bad bosses will ruin Gen Z's careers by replacing them with AI, ChatGPTInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »