ASK110: How do I sell a property to my own company? PLUS: Any tips for renovations
The Property Podcast
Rob Bence & Rob Dix
4.8 • 2K Ratings
🗓️ 17 October 2017
⏱️ 8 minutes
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Summary
Transcript
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| 0:00.0 | Hi, I'm Rob, and I'm Rob. |
| 0:02.8 | And this is Ask Robin Rob. It is Ask Rob and Rob, the show where you get your questions in, we get our answers out and everybody wins. |
| 0:17.0 | Super simple format, but everyone seems to like it, so we'll keep doing it. |
| 0:21.0 | And it's a super simple format to get involved as well. |
| 0:23.7 | Yep one phone number you need to know |
| 0:25.9 | Oh one three eight oh eight triple oh three five oh one three eight oh eight |
| 0:30.0 | triple oh three five but actually I lied you don't even need to know that phone number. You can keep it even simpler and just go to the Property Hub.net. |
| 0:37.0 | Ask. Whichever you do, just leave us a voicemail and before too long you'll hear us introducing your question just like I'm doing right now |
| 0:43.9 | with Sam from London. Hi Rob and Rob it's Sam calling from London I currently have |
| 0:48.6 | three rental properties in my own name I have weighed up my options and done the |
| 0:52.3 | calculations and I plan to invest in property |
| 0:54.6 | going forward through a limited company. I have a question for you about selling a property |
| 0:59.7 | that I currently have on my own name to a new limited company and how to fund this transfer. |
| 1:05.0 | I don't have a large amount of free capital at present and the only way I can imagine selling |
| 1:09.2 | property to the company would be to sell the property and use the funds from the sale to lend to the company and use as a deposit on a new mortgage through the company. |
| 1:18.0 | Obviously there are fees and capital gains tax and stamp duty which I will need to consider. But ignoring these for a second, |
| 1:25.0 | is this a feasible way of selling the property to the company or do I need to have a new deposit |
| 1:29.3 | already available sitting in cash in the company to be able to proceed. |
| 1:33.0 | Thanks for all you do in the world of property. |
| 1:35.0 | I hope to hear from you soon. |
| 1:37.0 | Cheers, Sam, good question. |
| 1:39.0 | So to put it simply, Sam wants to sell her property to her company. so in a way buying it from myself, but the company's buying it her company. |
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