foreclosures and credit cards

[joseph44]

Hi everyone,
I'm new to the site,I have been buying, selling and l/lording for
a few years.I want to get into foreclosures,I enjoy helping people live the
american dream.Mostly I bought homes the old way,till 2 years ago I started doing things creatively.Question:I was always one who didn't believe in credit cards. But on another web they preached get credit cards in your companys name as much as your credit will allow,Use them to make up back payments
or to buy outright and etc.The cards are short term usage till you either sell
or l/o or what ever you want to do with the foreclosure property.Would all of you who are in the know agree with this way of thinking?Also they said as long as your cards are in company's name you never see it on your personnel
credit report,It's suppose to be a loop hole in the credit system.Well thats
enough for now I would appreciate any and all responces.Thanks everyone
and have a good day!!

[Dan Auito]

hELLOOOO Joseph, first of all please allow me to be the first to welcome you aboard, it is a real pleasure to have another knowledgable player on the team!
From what you mentioned it may just be another financial tool in the tool box and the more tools we have the more jobs we can do! so I don't think it's a bad idea but you do have to be careful when playing with those high interest debt instruments.

I personally like to have lines of credit available and ready access to other peoples private money if I really have a screaming deal in the works!

If indeed acquiring those cards in the company name keeps them off of your personal report that would indeed be a major plus in this plan! :smiley5: