How you ACTUALLY BUY a property with a $20k-$50k Credit card!
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- čas přidán 6. 06. 2024
- In this video Derek Boone is breaking dow the strategy step by step on how to utilize credit cards to purchase property!
if you want more free gems join one of his daily free trainings at www.fundedandclosed.com
I followed his method a few years back. Obtained 80k in business credit using my personal credit to pg credit cards. Took 18k for down payment,putting down 5%.Used the remainder to renovate the home. Got a HELOC to pull the equity and pay off cards. Now the rent is covering HELOC /mortgage and bringing in an extra 600 in cash flow.
Bingo!!
Don’t you still need to pay the HELCO back? How soon were you able to use the equity on the property? Did you purchase it as investment or residential property?
I just said last night “how can I liquidate my credit cards for properties”. God is always listening 🙏🏽🙏🏽. Keep them coming Boone, much appreciated!!!!
You can't liquidate a credit card. It's not an asset. It's a debt instrument.
Yes you can liquidate a credit card and several different ways 🥴
@@dryrain2yep. Just have to know how to play the game. I only liquidated 0% interest credit cards and brought a truck. Then it got easier when I figured out how to liquidate with the com check blew my mind how simple that was. Just have to be disciplined on how you play the game with a solid plan for the money and repayment of it.
Amen and stay blessed!
The algorithm is always listening
I was able to buy a property at a Sheriff online auction. I paid for the renovation from the credit card as well. The entire process was funded by credit card. Do not leave out that we need to refinance the property so that we can get a lower rate than those high rate credit cards.
Amen and stay blessed!
Also make sure that property can pay the mortgage plus the credit card bills and cash flow a little also. Ex) Mortgage $1300 mth credit card $500 mth =1800, the property should bring in at leasttt 2000 to cover
Or I believe they do a cash out refin renovating the property ( raising the value) and use that check to pay the cards back.
Amen and stay blessed!
@@shizzdabarber7612 idk maybe im using a wrong company but they’re trying
To take 25’000 in fees and costs does that sound correct?
Great explanation, not many explain it without hiding parts or cutting corners leaving blank spaces and confusing people.
I hope people realize the value you are putting out here for them.
Thanks for sharing this knowledge! It opened my eyes to a lot of possibilities.
Appreciate this I subbed
I appreciate this info bro.
thanks buddy! this information is Gold. thanks again.
Amen and stay blessed!
Thank you!!❤🔥
Good shit 😎✊🏾
Amen and stay blessed!
I lost over 60k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Patricia Annie Brooks.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
You trade with Annie Brooks too? Wow that woman has been a blessing to me and my family.
YES!!! That's exactly her name (Annie Brooks) so many people have recommended highly about her and am just starting with her from Brisbane Australia🇦🇺
I'm new at this, please how can I reach her?
Her good reputation already speaks for her .I’m also one of the beneficiary of Annie Brooks. So happy I gave it a trial after being skeptic of the process.
💯🔥🔥🔥Thku
Hey Derek Boone, I just watched your video and I must say that it was really informative and well-made.
I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
What about doing a cash advance?
I ❤ it
If this aint some of the most silly and costly way to obtain property. i dont know what is. you would pay $500 in merchant fees to liquidate a card. once the card is used you are looking at 22% apr in interest. Thats $1500.00 in interest over three months, assuming the house can sell that fast. This ish here is reckless and not smart money management. If you cant get traditional financing there is a reason. dont do this ish and ruin your life
Im so glad that you posted this comment. Its amazing to see and know that people will follow this foolish advice.
Depends. If you get 0% credit card 12-24 months. If not, Just pay it off before interest reset. He said send it to a business partner as an invoice payment n refund it back to you? That’s taxes to be paid or explained to irs plus Too risky on both ends.
How I do it is use com check or fuel pay. Depending what card you use it’s 2.5-3.25 percent fee to take money then I write check to my business then put in business bank account. No worries. Just max for each check is $7500. Simple ways to do it without the risk. Either way you will pay some type of a fee to liquidate the funds but my way I don’t risk someone else messing up the flow. funds to liquidate
Taxes are only paid on gains. Credit is a debt. Regarding the invoice method. Debt was used to pay the invoice. Once received the person who invoice was paid sends back the money causing it to not count as income because they didn’t keep it. Once sent back to original purchaser it still counts as debt on their side to be paid back in monthly payments whether person that invoiced him/her or not.
@@DrAnthonyTLadson PREACH EVERYONE WANTS SOMETHING TO FREE .. STAY ON SIDE WALK IF YOU NOT READY
Depends on the card some businesses accounts have zero percent interest for 2 years
Possible just not the smartest way…you’ll end up in more debt if you’re plan goes array
Honestly I don’t think thats a good idea because you are going to have to give the money away back to the bank and credit card company most likely you are not going to be able to keep anything in your pocket.
Ur smart Mary…great minds think alike
Plastiq stop allowing you to pull from your card earlier this year
Looking for this comment..along with hard lenders
Not if you use Paypal. There definitely will be fees
Write yourself an invoice and pay it with the credit card. Some bank accounts let you create invoices also.
Lol mane.
Recipe for disaster !!!!!!!
Derek you super solid homie. God bless always. 🫶🏾
Hey Derek Boone, I just watched your video and I must say that it was really informative and well-made.
I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel