Can you buy a house with a credit card?

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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Location: Florida

Postby Pete838 » Mon Oct 31, 2011 9:44 am

If the properties are so distressed that a mortgage company won't touch them it probably isn't a good idea to try to float the purchase on a CC. A mortgage; even an interest only or variable with a balloon is a better vehicle for buying investment property.

The general rule for buying investment property is that if you can't fully amortize it over 7-10 years then it isn't a good investment.
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