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Justin Tahilramani
  • Rental Property Investor
  • Fayetteville, NC
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884
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Purchasing a REO using 0% Balance Transfer

Justin Tahilramani
  • Rental Property Investor
  • Fayetteville, NC
Posted Apr 25 2014, 07:44

Hello,

Just looking for a little advice. I have an REO that I am considering making an offer on. I feel confident about the numbers, but I wanted some advice on using a 0% APR CC Balance Transfer to float the purchase for about 15-18 months. The purchase price of the house is right around $35,000. I have very good credit and the income necessary to pay off the balance before the 0% runs out. What are your thoughts on venturing down this road? My wife and I both have VERY stable/well paying jobs. There is zero chance of either of us losing jobs/incomes in the next 2-3 years.

Thanks in advance!

Justin

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