Thread: Life Anyone have any experience or ideas to fix my own credit?
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Old 12-10-2010, 09:05 AM   #25
Hog's Gone Fishin Hog's Gone Fishin is offline
Fish are scared of me
 
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Join Date: Nov 2001
Casino cash: $-1529523
Here's a little trick I'll share.

I bought 8 rental properties at different times over about 7 years that the previous owner financed 20% with a balloon payment at the end of 5 years.

When the balloon payment came due and I did not have the cash to pay it ,I would write a check on a 0% CC offer that I received. I get them almost weekly in the mail. That gave me another year or 18 months to pay it off without any interest.

My goal was always to let the tenants rent pay for the property without any cash outlay from my pocket.
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