Has anyone used plastiq with funding a purchase?

Question

So I have read a lot about people using high limit credit cards for the purchase of a property by using plastiq as the platform to do so. I have filled out request to talk with people etc. etc. and nobody ever writes me back or calls me either from Plastiq. Is this normal? Is there a way to actually talk to a live person?

Has anyone successfully use this method and this company?

JD Martin · Answer

😅 I do, but it was also a pretty cheap house. Remember, this was a good 5-6 years ago. It was an estate sale and it was 4 sisters all in their late 50's/early 60s who just wanted to get their money and run. I think I paid $37k for it. Cheap enough that it didn't hurt my feelings letting it sit around for most of the year.

JD Martin · Answer

I don't know anything about "Plastiq", but I have bought a house with a credit card before. I simply used one a balance transfer check from one of my credit cards, wrote a check to myself, and then wrote the check for the property. This was on something that just popped up out of nowhere about 5 years ago, I had just recently bought something all cash and was doing the rehab on it and was short of cash at the time but knew I'd be flush again in 6 months, and it was too good a deal to pass up. So I wrote the check and just left the bought house untouched for about 7-8 months (other than stabilization) until I was ready for it. I carried that note for maybe a year at 2% (the fee they charged me to write the check, it was a 0% transfer offer) and then paid it off.

It was a great strategy because it gave me something in the pipeline. I'm sorry I didn't do it more often when deals were a lot more plentiful than they are now (I actually have done it twice).

Joe S. · Answer

@JD Martin

You Must of had a pretty big available limit to do it all on one card. Some of the higher limit cards we have does not offer convenience checks.