Joint property investment advice

[LAYLAR]

Hi All,

We are looking to start in the property investment field and need some advice with doing it as a joint venture.

One party will be investing more than the other, we really need advice on what is needed for the set up and legal process. Should we open a Ltd company? Should we open a trustee account? Also what about contracts?



Thank you,

Layla

 

[andy101]

Speak to a accountant in that specific area.

 

[directtraining]

I would be interested in this topic if anyone else has experience as I am looking to invest into properties in the coming months too.

 

[kenziereb]

If you want not only to save your savings but also to multiply them, contact insolvency practitioners. They will help you figure out whether investing in real estate is suitable for you in terms of risk and return. You will determine the budget. You will understand whether it will be your funds or borrowed. And most importantly, experts will choose an investment strategy based on how much money you need to earn on this. Real estate agencies have complete information about which areas are more profitable to buy apartments. They can be sold faster, and developers should be trusted if the apartment is purchased at the excavation stage.

 

[expertagent]

My advise (having done same via recommendations from accountant) are to set up a ltd company with you the 60% shareholder (or split as appropriate). Then search out a good mortgage advisor to get the best BTL deals. You will need 25% deposit for any mortgage purchase.(some 80% deals are out there but expensive).
Advantage of ltd company route:
-You have potential tax advantages over private ownership
- You control fully ownership shares
- You can sell shares or a whole share to other parties if needed
- Probably not needed, but you are never personally liable

Disadvantages
- Not as many btl products - those available are slightly more expensive (This is outweighed
- Maintaining a Ltd company involves compliance/cost

You can outline the exact details of each shareholders holding/responsibilites on the company articles.

Its working for me!

 

[robertopupka]

Ohhh,really

 

[YanoNino]

Sorry for the late reply, but it's a good idea to consult with a lawyer or an accountant, who can guide you through the specifics based on your situation. They'll help you understand the pros and cons of different options. In terms of contracts, it's crucial to have everything in writing to protect everyone involved. A solid contract should outline the responsibilities, rights, and obligations of each party, as well as how profits and expenses will be shared.