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Menelaus
20th March 2009, 14:00
I'm thinking about buying a house (using part of the equity in another that I'm buying at the moment) in the countryside that will be rented out to specific family members at a peppercorn in perpetuity (in practice, until the last one dies).

Assuming that the market does not go into terminal decline, what (if anything) would stop me from putting this (second) house on the company balance sheet with the revenue payments (mortgage payments) coming from the company?

I would propose that the property would be used at least in part for business purposes - one of the outbuildings would/will find gainful employment as a server farm for some of the experimental models that I'm working on at the moment.

Before I start spending oodles of money on this with lawyers, accountants and other leeches can anyone advise if they've done this before?

Thanks - in advance.
M