Would you "charge" a building?

[Cheri K Stephens]

I CAN purchase a building I am looking at on credit cards via cash advances.  No interest for 9 months then interest w/ a 2% minimum payment.  I can evict the tenants, remodel and re-rent within the 9 months then start knocking down the debt  quickly- I'd have it all paid off within 5 years....

This makes me nervous but it IS do-able.... Yes, I know, it will KILL my credit for about 2-3 years....but hey, it's a risk worth taking...

I think.....

Has anyone done this and if so, what issues arose that you didn't foresee?

Thanks for your input!

[Mike McCarthy]

Is a credit card really the best interest rate you can get?  While some have short-term teaser rates, are you really looking at an 18-25% interest rate?

Do you have some contingency plans? What happens if evictions take longer? Finding new tenants take a few extra months? There are larger CAPEX expenses that you aren't planning?

Of course, these are potential problems that any investor takes on, but you need to have a little wiggle room in case things happen.  You don't want to fall into defaulting on your loans/credit.