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Episode Info: Download our entire podcast archive in the members area. Learn more here What are some steps you could take when you’re having difficulty getting a bank loan? Hey, I’m Ryan McLean. I’m from cashflowinvestor.com.au. A couple of days ago, I asked you guys, all of my email subscribers to reply to one of my emails and let me know the biggest difficulty that you’re having with investing in property. This is one that I got back, not just from one person, but from a few people saying that they’re having difficulty getting financing. Now, some of you were more specific, saying you’re having difficulty getting financing because you’re a sole trader or you have your own business, and some of you were a bit more vague. I just want to cover what are some steps that you can take when you’re having difficulty getting a bank loan. Now firstly, if you’re not on the email list already, then you need to get on it. Go to cashflowinvestor.com.au. Enter your name and email address. We send out daily tips to help find and invest in positive cash flow property, so a very helpful thing to be a part of. Just head over there, and sign up, and if you’ve got questions or concerns, then email me, Ryan at cashflowinvestor.com.au. What steps can we take when we’re having difficulty getting a bank loan? Sometimes, it’s really hard to know. What should we do? Why are we even declined for a loan? Why are we even having trouble getting a bank loan? There’s a few different things that might be causing you issues in getting a bank loan. You might have low income. Your expenses might be too high. Your current debts might be too high. You might already be maxed out in terms of service ability of loans. You might run your own business, and so the banks aren’t counting your income. You might work off commissions, and so then a lot of your income, a lot of lenders won’t count. There’s various aspects that will cause difficulty when getting a loan, and each lender is different, so you never know if it’s going to be exactly one thing. You might go to one bank, and they’ll decline you for one reason, and you might go to another bank and they’ll decline you for a completely different reason. What steps can you take to get and jump over all of these hurdles that the banks have? Well, the first step really is to find out what is the number one thing that is holding banks back from lending money to you? Let’s step over the other side of the table and look at it fRead more »

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