cheekymonkey
24th April 2009, 10:24
Hi,
Myself and some contacts are looking into the idea of forming a property investment syndicate. I wonder if anyone could provide me with some advice or tips on how best to form this.
The idea is that we all contribute an equal amount of cash, we all have equal say and rights within the group. We would then look at purchasing property for rental investment and also development.
We feel that it would be easier if each memeber took it in turn to take out a mortgage for each property that we purchase, due to hearing that it is near impossible to gain a mortgage under a new ltd company. Is this true? The ideal situation would of been to form a LTD investment company, all add our funds and then purchase properties on commercial mortgages, but i have heard it is almost impossible?
If we go for the personal mortgage route option, then on paper it would appear that the property was personally owned by just one member of the group... is there anyway of tying this is with the rest of the group? Shoudl we form a LTD holding company to store the funds?? How could a personal property be linked to this company etc...
Sorry this post is probably rather confusing, but hopefully you will get any idea of what i need.
Myself and some contacts are looking into the idea of forming a property investment syndicate. I wonder if anyone could provide me with some advice or tips on how best to form this.
The idea is that we all contribute an equal amount of cash, we all have equal say and rights within the group. We would then look at purchasing property for rental investment and also development.
We feel that it would be easier if each memeber took it in turn to take out a mortgage for each property that we purchase, due to hearing that it is near impossible to gain a mortgage under a new ltd company. Is this true? The ideal situation would of been to form a LTD investment company, all add our funds and then purchase properties on commercial mortgages, but i have heard it is almost impossible?
If we go for the personal mortgage route option, then on paper it would appear that the property was personally owned by just one member of the group... is there anyway of tying this is with the rest of the group? Shoudl we form a LTD holding company to store the funds?? How could a personal property be linked to this company etc...
Sorry this post is probably rather confusing, but hopefully you will get any idea of what i need.