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Here is my objective, can you help me?


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We have been doing credit repair for some time.

I want to get a lot of credit cards and go out and buy houses with them..

I have a friend who has 44 houses he bought on credit cards... he finds a fixerupper, and buys it with check from the credit cards.... say 50k...

then he goes to homedepot and lowes and buys the stuff to fix it up... say

10k.... (on there cards) then he has it appraised and now it will appraise at

say 80k.... then he goes to the bank.... borrows 80% say 70k.... he then

pays off his credit cards... and pockets the 10k... and rents the house out

section 8.....

I am having some success with this.... but so far i have just taken out mortages.... But I am getting ready to buy on credit cards.... So if I buy say

50k on credit cards... what do you think the minimum payment would be?

It it take me more than a month to get a mortage on the house....

any ideas....

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the government pays only 80% of the rent for section 8. So lets just say that you want to rent the house for $1200, your guaranteed $960, every month, the tenant has to pay the extra 20%. They also have guidelines, the have a maximum rent for each sized apartment and if the utilities are included or not, they have a maximum rent value for that also. I know, my husband owns two houses in brooklyn, new york and each of his tenants are section 8 tenants. just some info for anyone intersted.

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i have the section 8 thing figured out...

its the buying the house on credit cards I am working on...

my friend owns 44 houses... and he gets the credit cards to send him checks.. and then he writes the checks and buys the houses....

this is the part i am working on... i am wondering what if you have to pay the credit cards for 3 or 4 months... how much would the payment be on say

40 or 50k... for a month...

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