Hi all
Looking to buy a commercial property with my business partner (who happens to be my father) and we are intending to split the property & loan 50/50. I heard somewhere on this site that you have to be careful investing with a partner because when you apply to borrow again the bank will consider the entire debt as your liability (not just your portion) and thus limiting your ability to obtain finance down the track.
If this is true is it avoidable? I was hoping that separate loans would get around this?
Looking to buy a commercial property with my business partner (who happens to be my father) and we are intending to split the property & loan 50/50. I heard somewhere on this site that you have to be careful investing with a partner because when you apply to borrow again the bank will consider the entire debt as your liability (not just your portion) and thus limiting your ability to obtain finance down the track.
If this is true is it avoidable? I was hoping that separate loans would get around this?