Finance & Strategy Expert
Finance & Strategy
Ask Kris Pederson, director of Kris Pederson Mortgages questions relating to Mortgages, Finance, and Strategy
Kris is a respected commentator on the property and finance markets in New Zealand and overseas. He spends his time working closely with his support team sourcing clients leading edge finance strategies.
I am the sole shareholder of an LTC which owns residential rental property. Soon this company is going to be making a profit rather than a loss. I intend to keep it in a profit situation in order to pay down debt on the property. Would you recommend changing the ownership to a trust? or something else?
We have a freehold home and two rentals that owe: $176,000, $211,000 and $316,000. Obviously, we are topping up two of the properties. If we sell the first property for $600,000 to reduce debt we could pay off the last $103,000 in a few years. Is this a better option than paying off $703, 000 over 20 years? Or is having three rentals better than having two?
We have just started a small boarding house: there are four bedrooms. We are paying the power. We presume this is claimable as an expense at the end of the financial year?