Thursday, August 19, 2010

How to Buy a Rental Property Using a Credit Card

My most recent financial adventure included purchasing another rental property. Since I had been unemployed for 2 years, and only back to work for a short period of time, I was unable to qualify for a traditional mortgage loan. My next option was to use a credit card.

I shopped around until I found a 3 unit property that I could actually afford to purchase with the available balance on my credit card and one where I would actually live. I finally found a foreclosure that met my needs. Plus, I lucked out, because one of the units was already rented to a great tenant.

Here's the article I wrote to tell exactly how I did it. How to Buy a Rental Property Using a Credit Card.

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