What you need to consider before jointly investing with family.
Many people are finding it hard to get finance nowadays – which makes it hard to take advantage of all those cheaper properties in the marketplace.
But, that doesn’t mean there is no way to move forward and snap up some bargains – it just means you have to come up with a different strategy.
Thinking outside the square.
There are many ways to skin a cat, and even more to buy a property.
And, when you think about creating wealth, it’s almost never just about you. Most people want to build wealth in order to benefit their family.
Rather than go it alone, it is possible to get your whole family on board in order to build a property portfolio.
Building the Family Kabal.
By creating a family kabal, it is possible to use the collective financial strength of a family unit in order to build intergenerational family wealth.
This is a strategy that the elite have been using for countless generations. But, you don’t have to be a Windsor to execute it.
Setting your family up for success.
In order to create a family unit such as this, it is essential to seek out advice from a good team of experts that your whole family can trust.
Every member must be on the same page as one another – and everyone needs to have a thorough understanding of the financial and legal implications of the arrangement.
Is a kabal right for your family?
While this is a strategy that may benefit some, it may not be best for others. It is always important to measure the pros and cons of any strategy against the appetite for risk of those involved.
In any case, it does go to show that there are ways around the current restrictions on lending.
Where there is a will there is a way.
Have you considered investing as a family unit? Please share your experiences in the comments section below.