HOW TO BUY REAL ESTATE USING CREDIT CARDS (Creative Financing or Risky Business?)

Yes, it's true, there are financial education channels on YouTube teaching on how to invest in real estate by using credit cards. In today's episode, Matthew Pillmore, president of VIP Financial Education, breaks down one of these videos on how to buy real estate using credit cards to discover whether this is a creative financing technique or a way too risky business...

It is true that real estate can be powerful in building your cash flow and establishing what many refer to as passive income, so why not look into creative ways to finance? We at VIP do this all the time, however safety is a major deciding factor for us here - we take risk very seriously, especially considering what we expect to see in the near future - a downturn in the market. Matt takes a look at a video where folks are signing away power of attorney to a company so that the company can start random LLC's in the individual's name and apply for and acquire tens to hundreds of thousands of dollars in business credit card availability. Then they have some "creative" ways to pull the cash out of the credit cards in order to invest in real estate and get a rental property. Sounds decent on the surface, but what is really going on behind the scenes and is this a good idea or a bad idea for your personal financial plan? Is it really creative real estate?

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#RealEstate #CreativeFinancing #CreditCards #VIPFinancialEd