A bit late posting this, but it has been a manic start to 2019! It has been so busy at work lately that I have not had the time to sit down and gather my thoughts about what to do next with the property business, let alone to write a post.
But here we are, and I now have the time.
So, remortgage secured! And with that comes a healthy equity release that is earmarked for our next rental property. It took a bit of time for the deal to be completed but it was worth the wait.
With this mortgage we have simultaneously dropped our interest rate (and with it our payments), increased our cashflow from the property and released some equity for our next project.
The next step I need to do is speak to a good property accountant. Currently, the properties are all in my name and I am now heading into the higher tax bracket which I am not too eager about. So the big question I will need them to help me with is ‘how do I structure our affairs/business to make it more efficient?’
I am all for paying tax, but I do not want to be paying over the odds kind of tax. It’s a bit like taking the whole family to eat at a nice restaurant, you can play the big spender and just foot the bill, or you can take a bit of time beforehand to find a ‘kids eat for free’ kind of voucher.
Right now I am looking for the ‘kids eat for free’ voucher.