Has anyone heard of using your credit card to take out the money to invest on real estate?

Has anyone tried this method for getting your money to invest in property. Someone from Real Estate Investing Institute suggested this to me but I had never heard of doing it this way. Would the interest rate be lower than if you go to a bank? He said you could just do a transfer balance until you get your profit. Seems oversimplified and risky to me. What do you think?

I would have to look at the details of the plan, but initially, this sounds like one of the dumbest things I have ever heard.

1) Credit cards won't give you a high enough limit to buy real estate.
2) Credit card interest isn't tax-deductible.
3) Credit card payments and interest rates are much higher than mortgages.
4) If you plan on borrowing from your credit card for a down payment on a mortgage, don't. Most mortgage lenders don't like that.

Basically this seems wrong at first glance. Unless the details somehow overcome all the negatives (which I doubt), don't do it.

Hi,

It's too risky. It might put you in a deep debt trap as you would soon get into a gambling mood. Checkout http://www.monetaryguru.com for some useful tips on dealing with real estate in a much safer way. Good luck!

I have heard about this method.

I usually read about it in the newspaper when they publish stories of people who have gone bankrupt through poor decisions.