Thanks for the credit card help, guys! - Posted by Richard(WA)
Posted by Richard(WA) on February 14, 2001 at 20:49:25:
Wow…what a lot of responses my one question got!! You guys are GREAT!!! Thank you!!!
I had already checked into the legalities of building on the land, if it was buildable, perk tests, all of that. The land is in a recreational subdivision so keeping motorhomes and trailers on it is no problem at all. There’s quite a few motorhomes and trailers on the neighboring lots–some have sat there for so long moss has grown on the roofs (yep, moss likes to do that here in the Pacific Northwest).
The covenents and restrictions do permit permanent residences to be built on the lot–many of the nearby lots already have houses in place. I would still need to do the perk test to see if a septic system can be put in–but if it doesn’t pass the perk test, I’m told there are some quite viable alternatives to a conventional septic system. My main worry at this point is seeing if the property meets setback requirements. I’m still investigating this but so far it looks good.
I did run into one little obstacle though…I read the fine print on my credit cards, and it turns out there’s a $100 a day cash advance limit per card. So going to a bank teller won’t work. So it looks like I’ll just have to do it the hard way and withdraw $100 per day per card until I’ve got the $3,000 in loans I’ll need. sigh Wish I could just charge the land purchase the way I’d charge a department store purchase…
Still…I’d DO this in a second to get that land… I’d be high as a kite… Especially as I’ve talked to a LOT of so-called experts–lenders, realtors, and the like–who told me I couldn’t get that land…
Looks like I’m about to be a landowner for the first time ever…Yayyyyy!
Next step after that…flipping my first investment property.
p.s. IS there a way to get around that $100 daily restriction per card, legally and ethically?? Just charge it instead of using a cash advance??