Not sure if this is the correct section, feel free to move it.....
Scenario as follows :
Friend has piece of development zoned land worth about €1m, however, we are contemplating joint venturing and actually going ahead and building about 30 houses on it. How might we look to finance this ?
One option we discussed was that we'd set up a company and the company will buy the land from him, but not pay any cash yet, simply defer the payment until we are finished the building. Could we then mortgage the land in the company name to finance the intial build of 5-10 houses ?
What other options exist ?
Scenario as follows :
Friend has piece of development zoned land worth about €1m, however, we are contemplating joint venturing and actually going ahead and building about 30 houses on it. How might we look to finance this ?
One option we discussed was that we'd set up a company and the company will buy the land from him, but not pay any cash yet, simply defer the payment until we are finished the building. Could we then mortgage the land in the company name to finance the intial build of 5-10 houses ?
What other options exist ?