M
Mark1986
New Member
Hi All,
My friends and I ( 4 in total) are about to buy our first renovation property at auction.
We will be selling the house once the property is refurbished and then reinvesting any profit into the next one.
Our trail of thought at the moment is that we will set up a joint account to control all our finances.
In terms of financing the deal we will be taking out a bridging loan to complete on the house and then using our own personal money for the renovation.
Does this sound reasonable? If anyone has any pointers or watch outs they would be very much appreciated.
Kind regards
Mark
My friends and I ( 4 in total) are about to buy our first renovation property at auction.
We will be selling the house once the property is refurbished and then reinvesting any profit into the next one.
Our trail of thought at the moment is that we will set up a joint account to control all our finances.
In terms of financing the deal we will be taking out a bridging loan to complete on the house and then using our own personal money for the renovation.
Does this sound reasonable? If anyone has any pointers or watch outs they would be very much appreciated.
Kind regards
Mark