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Updated almost 10 years ago on . Most recent reply

Michael Stevens's profile image
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Michael Stevens
  • from Lansing, Illinois
  • Member since Jul 25, 2015
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Michael Stevens's profile image
Michael Stevens's profile image
Michael Stevens
  • from Lansing, Illinois
  • Member since Jul 25, 2015
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Michael Stevens
  • Lansing, IL
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Buying & Selling Real Estate

Buying real estate using credit card leverage

Michael Stevens
  • Lansing, IL
Posted

If all we have is credit card leverage along with an average annual income of $97,000. How do we purchase a property of say $140,000 asking price?

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Steve Vaughan's profile image
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Steve Vaughan
  • #1 Personal Finance Contributor
  • Rental Property Investor
  • from East Wenatchee, WA
  • Member since Sep 19, 2014
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Steve Vaughan's profile image
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Steve Vaughan
  • #1 Personal Finance Contributor
  • Rental Property Investor
  • from East Wenatchee, WA
  • Member since Sep 19, 2014
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

Good income, no savings?  Not having money is a symptom of underlying issues.  Work and budget.  Save.  Cut out non-essentials.  The road to ruin can be financed by revolving debt.  Sacrifice to win @Michael Stevens!

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