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 60: The pros of using a buyer's agent: why this investor brought someone in
Episode 59: How to invest in property as a team: two investors share their secrets
Episode 58: When do you stop investing? The SPI Show answers more listener questions
Episode 57: Wealth creation through property: trends and themes to think about in 2017
Episode 56: The SPI Show accountant reveals all: How to pick your financial team
Episode 55: The reluctant property investor: How necessity drove an 18-property portfolio
Episode 54: The SPI Show Q&A: Listener questions answered honestly
Episode 53: 6 properties in 2 years: how this investor is achieving his goals
Episode 52: Will property prices fall? When? And by how much? What investors need to know
Episode 51: SPECIAL EPISODE: SPI team reveals all the financial details of its portfolio
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