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From: Kippy
Hi peoples,
I promised I'd start posting regularly in my last one so here goes:
Whilst thinking about ways to get equity for investments the idea of tapping into another persons (family member etc) came to mind. So eg, using the equity in your parents property as deposits for IPs. (Not in this situation but is an interesting idea)
A few questions:
1:Is the best approach to get the other party to simply secure a LOC against the prop and then use that for deposits?
2:How is this structured legally? I presume the equity can not simply be given from one party to another.
3:Is the only way to do this simply to have the IP loans in both parties names and use the LOC as the deposit?
4:Could the % of ownership still be proportioned as usual? So 99% to the party that wants to use the equity to allow all deductions etc
Thanks and I look forward to bouncing more ideas off the amazing people on this forum.
Cheers
Kippy
Hi peoples,
I promised I'd start posting regularly in my last one so here goes:
Whilst thinking about ways to get equity for investments the idea of tapping into another persons (family member etc) came to mind. So eg, using the equity in your parents property as deposits for IPs. (Not in this situation but is an interesting idea)
A few questions:
1:Is the best approach to get the other party to simply secure a LOC against the prop and then use that for deposits?
2:How is this structured legally? I presume the equity can not simply be given from one party to another.
3:Is the only way to do this simply to have the IP loans in both parties names and use the LOC as the deposit?
4:Could the % of ownership still be proportioned as usual? So 99% to the party that wants to use the equity to allow all deductions etc
Thanks and I look forward to bouncing more ideas off the amazing people on this forum.
Cheers
Kippy
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