using a credit union share loan

[Chris Eidson]

I can borrow against the savings in my credit union account. The rate is 1.95% (only .2% net over the interest rate they pay me). I can get a 10 year amortization. The turnaround is about 48 hrs to fund. Seems like a no brainer, for the following reasons:

1. It will basically be just like a cash purchase, so I avoid closing costs

2. The net cost of borrowing is almost nothing.

3. My cash becomes available again monthly as I pay the principal down.

I know most investors love to leverage and that my cash flow will be a little tighter because of the shorter amortization schedule, but I'm just trying to understand why I wouldn't do this? Your thoughts are greatly appreciated.