The unexpected roadblock stopping you from getting your next property
podcast

The unexpected roadblock stopping you from getting your next property

By Staff Reporter

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 104: New podcast: Q&A session with Paul Glossop – more questions answered!
Episode 103: Special Episode: Phil and Munzurul talk steering the growth and development of portfolios by managing cash flow
Episode 102: Investor reveals how to find the perfect property manager
Episode 101: From 12 to 100 properties – how this investor will achieve his goals
Episode 100: BONUS EPISODE: Property investor talks research, teamwork and balance in his portfolio
Episode 99: Portfolio update: SPI opens its books to reveal all the nitty-gritty details
Episode 98: BONUS EPISODE: Buyer's agent forecasts what’s to come for Aussie property market
Episode 97: ‘How we achieved financial security through property’ – the Property Twins reveal all
Episode 96: BONUS EPISODE: Tips for tackling pest and building inspections head-on
Episode 95: The top 10 things every investor should check before buying a property
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The unexpected roadblock stopping you from getting your next property
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