Posted by Dee Cee on June 16, 2002 at 23:50:41:
I’m not hearing the problem. Generally investment real estate will serve as collateral for the loan without a personal guarantee. You said that you would hold long term so I’m presuming investment or are you a Dealer and this is business income. That could make the difference on if you have to have a personal guarantee. Please feel free to email me. I would be happy to help.
Non-recourse loans - Posted by Jim
Posted by Jim on June 07, 2002 at 07:59:31:
I am one of three investors looking to purchase multi-family residential housing in New Hampshire. Our purpose is to hold the properties for long-term cash flow rather than to turn them over. These properties will require relatively little fix-up, have good rental histories, and are not distressed. The deals will range from 250K to 750K. We have the funds to handle reasonable downpayment requirements, and since we have no credit problems and substantial personal assets we can get recourse financing from a variety of local sources. Our concern is that we don’t want to sign guarantees. What we are looking for is access to fairly standard, long term real estate loan paper that is non-recourse. Ed, if this is something you can help with, or if you have any suggestions, please advise. Anyone else, please chime in. Thanks.