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Updated over 6 years ago on . Most recent reply

Chad Davis's profile image
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Chad Davis
  • New to Real Estate
  • from Provo
  • Member since Mar 10, 2017
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Chad Davis's profile image
Chad Davis's profile image
Chad Davis
  • New to Real Estate
  • from Provo
  • Member since Mar 10, 2017
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Chad Davis
  • New to Real Estate
  • Provo
35
Votes |
59
Posts
Rehabbing & House Flipping

0% Interest Credit Cards

Chad Davis
  • New to Real Estate
  • Provo
Posted

Does anyone use 0% Interest credit cards any process in flipping a house? I have spoken with a lender that does 90% LTV, 100% Rehab costs, and will even do a Gap loan. But for the holding costs, insurance etc... Do you use these credit cards?

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Matt K.'s profile image
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Matt K.
  • from Walnut Creek, California
  • Member since Oct 30, 2015
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Matt K.
  • from Walnut Creek, California
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Matt K.
  • Walnut Creek, CA
Replied

They'll destroy your credit if you max them out or carry a high balance. However it'll go back to normal once you pay it off... But if part of the plan is a redi during the time you carrying this balance I'd reconsider.

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