What is the approximate amount you would be financing?
If you can get a Non-Recourse Loan, your personal risk would certainly be minimized. With this type loan, the lender is agreeing if you default on the loan of the property being financed, the property is enough collateral to satisfy the loan. They would then take possession of the property and you would forfit any further interest in it but also have no further obligation to pay the loan…
Generally these loans are $1,000,000 or more and obviously the lender has to be comfortable with the potential cash flow and value of the property being financed…
I am partnering with a business that is willing to assist me in financing the commercial building in which I would be the owner/occupant. The partners are open to creative financing options. I would appreciate any ideas or suggetsions on the best way to utilize their money and minimize my personal risk.