Hi,
I know this may sound silly at first but hear me out. I would like to know if anyone has ever paid for a investment property using a credit card?
As an example:
I am buying a investment property worth $100,000
I have a loan approved and settled for $100,000
I have a credit card with a $20,000 limit on it.
I ask the vendors selling agent to make 5 x $20,000 payments over 2 weeks. Each time I make a payment on the credit card I then move 20k from the loan account to pay off the credit card. I do this 5 times and the vendor receives all the money for the property.
Has anyone been able to setup this type of payment arrangement?
Cheers!
I know this may sound silly at first but hear me out. I would like to know if anyone has ever paid for a investment property using a credit card?
As an example:
I am buying a investment property worth $100,000
I have a loan approved and settled for $100,000
I have a credit card with a $20,000 limit on it.
I ask the vendors selling agent to make 5 x $20,000 payments over 2 weeks. Each time I make a payment on the credit card I then move 20k from the loan account to pay off the credit card. I do this 5 times and the vendor receives all the money for the property.
Has anyone been able to setup this type of payment arrangement?
Cheers!