5 Practical Ways to Increase Your Borrowing Power with Aaron Whybrow

EP 020: In this week's episode of the podcast, I sit down with Grant, my co-host and Aaron Whybrow, as we discuss 5 practical ways to increase your borrowing power.

There is a lot more to borrowing power than meets the eye.

So, if you are an Australian business owner, this will be worth your time.

Episode Highlights:
00:00 Welcome to Full Stack Business Owner
01:53 About Aaron, the bagpiping mortgage broker
05:07 How can you increase your borrowing capacity?
06:40 #1 Earn more money
09:53 Business growth vs increasing net profit
12:33 Can you leverage your partner’s income?
14:36 #2 Double down on debt
15:43 Types of debt
17:29 Not all debt is equal in the eyes of banks
22:00 Can you pay off bad debt with good debt?
23:06 Key debt to eliminate first
26:09 #3 Maintain your budget
28:02 Why you should track your personal and business budgets
29:45 Do banks consider income fluctuation?
33:41 #4 Buy an A-grade asset
36:34 How your investments affect your borrowing capacity
39:49 The dangers of underinvesting in your business
43:05 #5 Diversify your banks
44:35 How often do banks change their rules on lending?
47:51 Leverage the knowledge of mortgage brokers
49:53 Pay down your debt first
53:21 What happens to existing debt if your earning capacity drops?
57:00 Is there a ceiling to borrowing capacity?


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Resources:
○ Business and Investing website: https://www.businessandinvesting.com/
○ Business and Investing partners: https://businessandinvesting.com/partners

About the Guest:
Aaron Whybrow is the founder of Diagnostics and Finance, a Financial Broking and Personal Risk Insurance Business.

Diagnostics & Finance (ARW Financial Services Pty Ltd) is a Credit Representative 425540 of Finsure Finance & Insurance ACL 384704.

He is known as the ‘bagpiping mortgage broker’, who prides himself on having no ‘flats’ in his career. He blends his experiences as a former intensive care unit nurse and medical sales rep to provide the best outcomes for his clients.

To connect with Aaron and his team of mortgage professionals, head over to https://businessandinvesting.com/partners/diagnostics-and-finance/

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DISCLAIMER:

All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.

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