podcast

The unexpected roadblock stopping you from getting your next property

By Staff Reporter
0

Helen Collier-Kogtevs, Director Real Wealth Australia

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Have the banks said no to lending you any more money? Have you hit the financial brick wall? Well you now what? A lot of investors come unstuck without actually realising it simply because of their credit cards and their credit card limits. The reality is for every $5000 you have no credit card limit potentially minimises your borrowing power by $25000. So if you've got a combined credit card limit of $20000, that's $100 000 in borrowing potential you're short changing yourself on. So if you want to invest, and you've hit that financial brick wall, take a look at your credit cards. Reduce those limits to their minimums - because I understand we need our credit cards - but reduce them to heir minimums and have them not stand in the way between you and your next investment property.

 

 

 

Listen to other instalments of The Smart Property Investment Show:
Episode 70: SPI special episode: buyer’s agent answers more listener questions
Episode 69: Are you a ‘lazy’ investor? Consider the benefits to working with a financial team
Episode 68: Special episode: audience discussion live from the Property Buyer Expo
Episode 67: Don’t get ‘caught up in the now’: an expert reveals his tips for success
Episode 66: Wealth distribution: how should you manage your money?
Episode 65: Real estate agents: what separates the good from the bad?
Episode 64: How this investor learned from a property blunder
Episode 63: Q&A session: the SPI team answers your questions
Episode 62: Property procrastination: the importance of finding help
Episode 61: The ins and outs of strata: what buyers should consider
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