Putting Komplete 9 In and external Hard Drive, Accessing it from a Server?

Hey guys,

Im looking to buy Komplete 9, but the only thing is that its 370gs of sound that I don't want taking up my space in the laptop. I had the Idea that what I could do is buy an Apple time machine which could be used as a server to link an external Hard Drive to the time machine and access all of Komplete 9 through the wifi into my mac.

My question for you guys is, it even possible for this to happen? if it is would there be any thing slowing it down in any way?

Love to hear what you guys have to think