All Topics / Finance / Company or not?

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  • Profile photo of enieuwoudtenieuwoudt
    Member
    @enieuwoudt
    Join Date: 2004
    Post Count: 5
    April 9, 2005 - 12:52 am

    HI,

    I found some +CF properties and have problems trying to raise finance. Is it any easier with a formed company?

    Can anyone suggest anything?

    thanks

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    April 9, 2005 - 1:12 am

    No. You will still need to give personal guarrantees, so the lender will rely on your income. If you can’t qualify now, nothing will change by forming a company.

    You probably shouldn’t use a company to hold proeprty either. better talk to an accountant before setting any thing up.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of enieuwoudtenieuwoudt
    Member
    @enieuwoudt
    Join Date: 2004
    Post Count: 5
    April 9, 2005 - 3:41 am

    Thanks Terry,

    I went to the Melbourne seminar and for some reason I understood that forming a company would be easier to raise capital. Steve indicated when he first started out he had the same issues. But with out giving any personal guarantees.

    Steve could possibly shed some light on this.

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