Hey fellow investors,
My Wife and I started a part time business which we run on our weekends. We set it up as a company both as directors to run the business through that structure. It has been more successful than we anticipated as I'm personally close to reaching my land tax I'd like to buy a Investment property through the company. From what I can gather it won't effect my personal land tax as it is under the company? We have looked at some loans so far and are aware you need a minimum 20% deposit. Can we use our personal money to make up the rest of the 20% deposit and will banks consider this or does the deposit need to be entirely from the business income stream. Thanks Tony
My Wife and I started a part time business which we run on our weekends. We set it up as a company both as directors to run the business through that structure. It has been more successful than we anticipated as I'm personally close to reaching my land tax I'd like to buy a Investment property through the company. From what I can gather it won't effect my personal land tax as it is under the company? We have looked at some loans so far and are aware you need a minimum 20% deposit. Can we use our personal money to make up the rest of the 20% deposit and will banks consider this or does the deposit need to be entirely from the business income stream. Thanks Tony