All Forum Posts by: 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!

Alex I have been searching....just no luck yet.  Not giving up-I want this to be my first building!

Thanks for the encouragement!

I have found a great investment. I have great credit. I cannot figure out how to get the property. Do I need to get an LLC? I don't have cash but I have A LOT of available credit- but if I take cash from credit to put down on property my credit score goes down...Someone told me I have to show money available- example: my ex husband owes me 13k within next 6 months- he's refinancing the house to get me off it but that's not for 6 months- I do not expect him to do it any earlier than he has to. I'm looking for a loan around 55k and that will include the rehab budget-the income on the property will increase 135% after rehab....like I said-it's a great investment and I want it....I need help getting it...any and all advice, links to options or contact info would be greatly appreciated!!

Didn't see this until now-meeting in 5 minutes...when's the next one??? I'll plan on being there!

Anyone like coffee and want to chat about getting out of the rat race?