Hello, We are big fans of F2F, with long standing plans to start a 12+ acre small holding with the long term goal to be running an experience camping centre with camping pods, yurts and eventually log cabins, one of which will also be our home on site amongst other seasonal businesses.
So we have powerpoint presentations and excel sheets on the subject coming out of our ears. What we lacked is finance to buy the land. Soooo we believe we have solution but what I am unconfident on whether it would still work within the framework of the book and would appreciate your thoughts.
The plan is to get an investor (family member) to buy the land on a rent to buy basis. Rent to Buy, a phenomena brought over from the US and used by local councils for people to get their foot on the property ladder by renting a property and over a course of 10 years a proportion of the rent is set aside as a deposit. There is a legally binding contract protecting both parties and it's good for the investor as they make more money on their initial investment and have secure tenants. It's obviously good for the 'rent to buyer' to get around the problem of getting a mortgage without a deposit. So the theory is to apply this method to land.
What I worry about is because on the land deeds we won't own the land can we carry out the business plans aka, living on site in a static whilst building work is being carried out?
Any experience on anything like this out there?
Thanks In Advance
Loop