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Advice needed on buying investment property for flipping
BatemanLDN
Posts: 15 Forumite
Hi All,
Recently I come in to a bit of money which is enabling my Fiancee and I to buy our first home together which is great, however, i want to continue flipping houses and not sure the best way to do this financially.
I've done 3 houses now so good success but they've all been my house of residence so not needed to worry about capital gains, secondary home etc.
Very shortly after (or possibly before or at the same time of) purchasing our new home I am looking to buy a house to renovate with a friend of mine.
My question -
As a mortgage would be needed in all cases, what is the best way to purchase the investment property that i am looking to only hold on to short term (6 months) and then sell on to build up some capital and do move on to the next one.
Would it be wise to buy via a business? As a simple secondary property jointly owned with my friend because capital gains wouldn't affect us?
Any advice/guidance greatly appreciated.
Recently I come in to a bit of money which is enabling my Fiancee and I to buy our first home together which is great, however, i want to continue flipping houses and not sure the best way to do this financially.
I've done 3 houses now so good success but they've all been my house of residence so not needed to worry about capital gains, secondary home etc.
Very shortly after (or possibly before or at the same time of) purchasing our new home I am looking to buy a house to renovate with a friend of mine.
My question -
As a mortgage would be needed in all cases, what is the best way to purchase the investment property that i am looking to only hold on to short term (6 months) and then sell on to build up some capital and do move on to the next one.
Would it be wise to buy via a business? As a simple secondary property jointly owned with my friend because capital gains wouldn't affect us?
Any advice/guidance greatly appreciated.
Bargain:
Anything a customer thinks a store is losing money on
Anything a customer thinks a store is losing money on
0
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