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re: If you received $500K, how would you invest it?
Posted on 5/14/14 at 7:43 pm to trillhog
Posted on 5/14/14 at 7:43 pm to trillhog
No major bank would do it.
Maybe some mom and pop bank with a handshake, but 66% LTV is way too high without a personal guarantee at that deal size.
Clarification: it is too small.
Maybe some mom and pop bank with a handshake, but 66% LTV is way too high without a personal guarantee at that deal size.
Clarification: it is too small.
This post was edited on 5/14/14 at 7:44 pm
1
Posted on 5/16/14 at 10:36 pm to TheHiddenFlask
quote:
No major bank would do it.
Maybe some mom and pop bank with a handshake, but 66% LTV is way too high without a personal guarantee at that deal size.
Clarification: it is too smal
Oh I don't know--good lease and there are a lot of lenders--not necessarily banks--that will jump on a commercial loan like that.
BUT what difference does it make if you give a personal guarantee?? I used to worry about that but I don't anymore. I simply sign them for everybody and remind the lenders there are no telling how many I have signed.
The very last thing a lender wants to do is foreclose and pursue a personal guaranty. Long before that happens the lenders are going to be working with you to avoid the default.
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