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.
My owner occupier house is worth $500,000 and my rental property is worth $400,000. I owe $600,000 to my bank. How do I calculate how much the bank would lend me for a) a second rental house (to rent) and b) a third house to live in (i.e. if the current occupier house becomes second rental)? My mortgage broker has confused me about this.
If I own a rental property, can I rent it personally to myself if I pay a proper rent and declare the income on my property tax return?
A relative is keen to downsize and get into investing. They will have around $700,000 in cash. What type of strategy, including location & type/number of properties, would you recommend? Ideally, they would like an income to replace their current salary which is around $70,000.