50 | Q&A - Credit card management, professional fees, LOC for negative cash flows, adding value via reno and interest only loans

Only a couple more weeks left to our Summer Series. This week, Bryce Holdaway and Ben Kingsley will be answering the questions below from our fellow listeners. Thanks again for submitting your questions!

• Credit card management question from Peter on Facebook: I want to adopt your setup but worry about using a credit card, considering we don’t have one currently. Thoughts?
• Professional Fees questions from Andrew: I am a first-time investor with limited funds for my purchase, and I am trying to get an idea whether or not I could...
  • a) even afford the above services? 
  • b) and if buyers with smaller budgets (sub $400k) can still maximise capital growth and rental yield using qualified property advisers and investment savvy buyers agents? 
• Question on line of credit from Christian: What are your thoughts on using equity and/or a line of credit to fund the negative cash flow on high-growth properties?
• Value add question from Heath: I have a recently renovated investment property in Brisbane that is a 3x2x2. We have built a 4th bedroom downstairs in the existing utility room and I am speaking to a few building certifiers and engineers etc. to assess whether or not I can get the 4th bedroom of my IP certified through the council. It’s looking like the certification will cost me around 5k and the difference between the median for 3 & 4 bedrooms in the area is around 60K. Would you think moving forward with this would be feasible? And if so when issued the certificate through the Brisbane council is this something that I would submit to the valuator when they would be doing the inspection?
• Repayment question from Joe: I found your book very easy to follow and understand though I do admit I learn a lot of the terms and phrases from the podcasts. I do have a couple of questions though.
  • Is it possible to have Interest only repayments over the course of the entire loan? 
  • Do you factor in the fees of your service as this would have a noticeable impact on the overall purchasing power of the buyer?

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