Using Credit Cards to pay for property

[Nick Rutkowski]

Hey everyone!

I was wondering if it is a good idea to pay for a house ( or majority of it) using a credit card?  Also, it is only a thing flippers/rehabbers use or is it a way all investors use? Or is this just a terrible idea in general?
I just got done listening to BPs 3rd podcast "Getting Started in Real Estate and Raising Money with Brain Burke". He started out by doing so when he was flipping his first house, although he said it wasn't the best idea it got him past his first deal.  

I am still trying to figure out how I want to go about buying my first property and I know its not an ideal way but I'd like to know what you all think.  

[Joe Villeneuve]

Using credit cards works.  I've done it myself and have shown others how to do it.

Having said that, I would not recommend it.  There are a number of things you need to know in order to use this strategy correctly.  If you don't follow them to a "t", you'll screw yourself into the ground, and depending on how bad, and what other problems you caused on a domino effect, you could be paying for it for a long, l o o o n g time.

It works great when you know how to use them.  It could be the worst decision you ever make if you don't.