Hi all!
I am looking to start buying property for renovation and selling them after. I am intending to do this by starting my own company and buying under the company name so in the future when i decide to start developing property the company has already made good profits and can start getting larger loans. Can this be done? Obviously i will be the director of the company and my normal income will be taken into consideration when applying for a loan but after a few purchases and a few years the company would have made some profits which can boost the borrowing power in the future. I would like to know what people thing of this. Thanks!
Adam W
How long are you planning for the reno’s to take?
There may be some tax advantages of other structures, depending on how long you will hold the property.
CATA
Asset Protection Specialist
[email protected]
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