Not property, but I've thought of a way to make free money...

OK, here is the scenario:

Step 1: Open a credit card with, let's say, $20,000 limit.

Step 2: Draw down the full $20,000 as cash.

Step 3: The same day, transfer the balance to a low interest balance transfer (some offer no interest) credit card. Pay all fees of course.

Use the $20,000 in an online saver (i.e. UBank at 5.56%)....and viola!!!!

At the end of the low interest period, repay the new bank.

I can not see why this would not work. Anyone??? :D
 
hmmm try this one

http://www.somersoft.com/forums/showthread.php?t=41947

BTW it can work :)

I did it last year with as our business "overdraft". We pay out our credit card down to $0 every month.

soooo I transferred $20k from the CC into the business account then used a citibank balance transfer for 12months at 0.99%

Bloody cheap money that has increased the business and earnt MUCH more than $20K. I transfer $500 a week into citibank and will have it well paid off before the 12 months. Then i will close the card. (ends in May 2010)
 
Lend me the money I will pay you interest on a mortgage contract and vioala you will have a free return, with no messing around.

:)
 
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