Another Company structure question :)

[The Dark Knight]

Hi fellow forumites,
Straight to the point I work full time as well as running a part time business through a company structure. I have a large portfolio in my own name but was looking for future investment properties with my wife and I been through the company structure as she is a co-director. Now I know its not the preferred way of buying properties but I wanted to take advantage of our high cash flow business in an offset account. My question is our business has only been running for 6 months and I know that will be an issue to get a loan with only be open for such a short time can you use our personal income/servicability to help secure a loan under the company structure? Thanks in advance

 

[RPI]

Risk Risk Risk

You should use another entity that would allow you to separate the trading from the asset. You can still use the income. I would suggest Terry W in NSW could help you out on that one

If you get in any sort of creditor or litigation issues with your business then you owning a property in the same structure will greatly appeal to lawyers of the ambulance chasing, litigious or debt recovery kind.

PS I have had multiple clients who had previously successful businesses lose the property they owned that could have otherwise been protected.

 

[Terry_w]

Many different ways to struc4. Possible to start another company and lend from a to b etc. Risks to be assessed.

 

[imbi3]

Would be easier for the bank to assess and take charge over the assets if different entities. Also for your asset protection