Down payment Seasoning

[Jean Claude]

So I have a few rentals already but like everyone else I am looking to expand my portfolio. I have talked to a few private and hard money lenders and came up with an idea i would like to try. I have a discover card with a high limit 25k and on average would need about 5k-7k per single family residence down payment . (Upstate NY)

Discover allows you to do unlimited bal transfers directly to bank account (cash) and then you have one year at 0% APR.

My idea is bal transfer , then season funds 2 months in savings , buy and close (turnkey with tenant) 35 (max) (another 2 months)  rent will range 750 to 800.

Leaving 8 months so FAR.

Mortgage will be a 15 or 20yr (I am 24) which means as long as i can get 500 a month after mortgage 8x5 = 4000.

I come out with only a balance of $1000 when 0% apr expires.

I have reserves as well from my other properties but my mentor told me to think about creative financing . What do you guys think?  

[Jeff Filali]

@Jean Claude I just took advantage of my Discover 0% interest offer also, and have used other 0% offers from Chase & Capital One also. I normally pay all my business and personal bills on credits cards to rack up the cash back points, and I pay them off every two weeks.  But when they offer 0% promos, I leave the max balance on the card because I can make more money with the money instead of paying off. Last year I was able to use close to $35,000 in zero interest money to expand my flipping and received a lot of cash back also.  I loves me some free money.  

Another thing I do is take advantage of very low interest offers as well.  Anytime I can get money at 4% or less, I take advantage of it because I can make at least 3-4x that return off the same money.  I have a student loan I could have paid off by now, but it's like 3.5%, so why when I can use the same money to make money.