Is it possible, or more probably, under what circumstances, could a company borrow money (e.g. from a bank), and use that money to buy a property, pay for renovation, and sell for profit?
Background:
Very young company, a few months old. Company bank balance will be circa 30% of loan value.
This is theoretical. I have no plans at the moment. I'm just trying to analyse whether its best if I put it through a company or not.
Generally, what are guidelines for company loans for this type of thing? What about setting up a company to develop property, as opposed to renovations?
Background:
Very young company, a few months old. Company bank balance will be circa 30% of loan value.
This is theoretical. I have no plans at the moment. I'm just trying to analyse whether its best if I put it through a company or not.
Generally, what are guidelines for company loans for this type of thing? What about setting up a company to develop property, as opposed to renovations?