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 74: How this investor plans to double his portfolio within 10 years
Episode 73: Bad builders: how this investor bounced back
Episode 72: Policy changes to interest-only loans: what buyers need to know
Episode 71: How this 'stubborn' investor recognised a property lemon
Episode 70: How this investor complements each property and balances his portfolio
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?
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