Buying a property / Brother in law

[vdn]

I'm wondering if anyone can help / or has experience of the following...

I have a LTD co. that buys / sells and lets properties.

I have some contacts that feed me bargains and I was given the heads up on a great cash only buy.

I / the limited co / can afford it with nobody else involved but I wouldn't mind sharing the purchase so that I don't have to sink as much cash in - and my brother in law has some cash burning a hole.

And so, I've asked if he'd want to go in on it and we can always flip it and make a nice profit that way, but we'd probably let it for a year or two in any case.

So... here's the rub. The deal is that it's my limited co buying the property - this is mainly because there are some involved that know my setup and the familiarity is a part of the deal / and why I'm getting it for what I am.

The obvious thing to do is explain that actually, it won't just be my co buying now, it'll also be a family member... but I'd rather avoid that...

Any ideas?

[NorthDave]

He could just loan your ltd company the money and get a solicitor to draw up a repayment schedule or equity in the house etc. However you want to gear it. Should be straight forward?

[vdn]

NorthDave said:

He could just loan your ltd company the money and get a solicitor to draw up a repayment schedule or equity in the house etc. However you want to gear it. Should be straight forward?

Thank you! So it's not too out of the ordinary then and should be simple. That's good news. I'll pursue your idea as a first port of call.

My naivety regarding having anyone else involved is, I'm afraid, quite something - as I've been a lone soul from the start.