LoC Or Credit Card W/0%
I'm in a small quandry. I think I know what everyone will say, but let me ask anyway.
I have been approved for a Line of Credit for around 33,000, with the paperwork in hand ready to sign. I have two credit cards with zero balance, one with a no interest until middle of 2004, both with hefty balance limits. I plan to flip most of the properties I encounter. My question...do I send the paperwork back and opt out of the LoC and use the credit cards....or what?? 
Is the LOC costing you anything? If not send the paperwork back. You are not charged interest until you take money from the LOC. Could be useful when the 0% interst rate expires and/or give you the ability to work with multiple properties. Basically I would use the credit card as long as the rate was 0%, but have the LOC to take over after 0% is gone. Watch out with credit cards, high balances (or balances above 50% of credit lim can affect your credit score, which could affect your ability to get loans.
The LOC is not costing anything, however they will instantly require me to pull $7500 from the LOC. So apparently it will be costing me interest on this part of the deal.
Gotcha on the CC balance....I plan to payoff at every conceivable opportunity.
Thanks for the reply.