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From: Chris Legg
People on low income want money for overseas
trip.Friendly investor discovers they have unemcumbered property and suggests that he buys 10% of their property. They dont want to make repayments until sometime in the future when the property is sold so friendly investor says OK capitalise the interest and repay when property is sold.
Owners gain money they cant get from traditional finance Investor gets capital gain on 10% of property.
What would be the best way to set this up?
Would investor get tax deduction on interest paid during the time until the property is sold.
Investor would have to pay CGT when property sold.
Owners are somewhat older than investor hence likely to sell property due to ill health etc within next 20 years.
Comments please
Lifes a beach at Caves
People on low income want money for overseas
trip.Friendly investor discovers they have unemcumbered property and suggests that he buys 10% of their property. They dont want to make repayments until sometime in the future when the property is sold so friendly investor says OK capitalise the interest and repay when property is sold.
Owners gain money they cant get from traditional finance Investor gets capital gain on 10% of property.
What would be the best way to set this up?
Would investor get tax deduction on interest paid during the time until the property is sold.
Investor would have to pay CGT when property sold.
Owners are somewhat older than investor hence likely to sell property due to ill health etc within next 20 years.
Comments please
Lifes a beach at Caves
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