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Chance Cooper
  • Real Estate Investor
  • Raeford, NC
39
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137
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Maxing a credit card for down payment on property

Chance Cooper
  • Real Estate Investor
  • Raeford, NC
Posted Oct 30 2014, 07:54

I found a house the other day for 49k, a house up the street is selling for 86k and another for 76k. I called on a few houses in that neighborhood and rent is around 700-750. 

I would need $9800 as my 20% down, have you ever thought about or actually maxed a credit card to use as the down payment?

Is this a dumb idea? 

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