Met a girl at a networking event in Dallas who bought a duplex with a credit card
$63,000 property in Ohio. $12,000 renovation. All on 0% business cards. Total out of pocket: $2,138 in processing fees
She liquidated the cards through Melio (2.85% fee). Melio sends a real check to whoever you want... title company, contractor, seller. The recipient gets a cashier's check. They don't know it came from an Amex. They don't care
Each unit rents for $525/month. $1,050 total
Minimum payments across all cards: $380/month
Cash flow from day one: $670/month
The tenants are literally paying her credit card bill plus handing her $670 on top while the bank charges $0 in interest
Month 8 she refinances. DSCR loan... this type doesn't check your income, doesn't check your W-2, doesn't call your employer. It checks one thing: does the rent cover the mortgage payment. Hers does
Pulls $70,000 out. Pays off every card. All back to $0. Reloaded and ready for property #2
Now she has:
A duplex she owns
$575/month in permanent cash flow
$0 of her own money left in the deal
Every credit card cleared for the next round
"How is this different from a mortgage?" I asked her
She laughed. "A mortgage takes 6 months of paperwork, 20% down, income verification, appraisal, and they'll quote me 7.2%. I closed as a cash buyer in 7 days. The seller took $3K less because I could close fast. And I paid $2,138 total in fees versus $12,600 for a down payment plus $10,500/year in interest"
Same house. Same tenants. Same rent check. One path costs $10,500/year. The other costs $2,138 total
Every real estate guru charges $50K to teach you how to beg Chase for a mortgage. Chase will hand you the same money on a business card at 0% interest and $0 in guru fees
I bought her next drink lmao
(we build the full capital stack. credit repair in 30-90 days if score needs work first... then $100-250K in 0% funding. link in bio)