Hi All,
With the current credit crunch, and house pricing collapse, I'm seriously considering buying some property to let out. My plan was to set up a new company - MyCo Holdings and fund the property purchase through a loan from MyCo.
Ideally I'd like to grow the company over time to the level where MyCo can become a minor entity, and I would be able to draw my pension from MyCo Holding's earnings.
Is there any reason to hold property personally, rather than through a company? I'm not planning on making a quick buck on this, I expect to do this over at least 20 years, and to start to buy in a year or so....
With the current credit crunch, and house pricing collapse, I'm seriously considering buying some property to let out. My plan was to set up a new company - MyCo Holdings and fund the property purchase through a loan from MyCo.
Ideally I'd like to grow the company over time to the level where MyCo can become a minor entity, and I would be able to draw my pension from MyCo Holding's earnings.
Is there any reason to hold property personally, rather than through a company? I'm not planning on making a quick buck on this, I expect to do this over at least 20 years, and to start to buy in a year or so....
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