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Hi all, I have an arrangement with a family member whereby the property was purchased by my sister and essentially "verbally gifted" to me to help me onto the property ladder. We are currently in talks of several scenarios in order to extract the equity/cash from the property in order to help me to build my portfolio. One potential case would be to sell the property and cash in on the current value; apart from the initial capital gains tax, are there any other law/tax penalties we should aware about if she was to transfer a lump sum to me following the sale of the property to fund my property portfolio? Would the situation be further complicated if I was to consider starting a limited company to build my portfolio using the cash received from my sister? Any insight in terms of the most cost effective (and legal) way to do so will be much appreciated. I'm just concerned whether a gift of this magnitude is acceptable in terms of putting a deposit payment on future BTLs in my own name/limited company. Thanks. Kind regards, Rayman
Hey everyone, my name is Francis and I'm currently a student at university. I've been looking to start investing into property, acquiring my first asset either this year or early next year. I was wondering if anyone would be able to offer me some advice for making my first investment. Thanks a lot in advance, looking forward to getting more involved with this community, Francis
top tips when viewing potential properties
Christopher Cox posted a topic in OtherHi Guys, I think I'm almost ready to start shopping around for a buy to let property. Looking for any tips? does anyone have anything like a check list that they use with questions etc. I have found a property which has tenants in situ, does anyone have any specifics to watch out for in this example? any tips on the questions I should be asking when this type of arrangement occurs? Kind regards Chris p.s. Hopefully soon I can start helping the property hub members with my acquired and hands on knowledge soon