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Dec 12, 2024
5:26
:48
pm
CrimWalCoug
All-American in practice
Likely a tougher sell. Are you willing to do a Personal Guarantee?
Depending on how much you have in other assets your spouse could see this as using your primary residence as collateral.
And with this type of loan a lender is likely to want to be in first position.
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CrimWalCoug
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CrimWalCoug
Joined
Apr 7, 2016
Last login
Dec 14, 2024
Total posts
19,013 (2,384 FO)
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Messages
Author
Time
Private lending/investors question…
Katewot
Dec 12, 3:42pm
Could a heloc cover it short term? Or is it too much? Just a thought
AFewThoughts
Dec 12, 4:02pm
RE: Could a heloc cover it short term? Or is it too much? Just a thought
Katewot
Dec 12, 4:09pm
<< Deleted >>
Katewot
Dec 12, 4:59pm
Seller financing?
Bluforever
Dec 12, 4:26pm
He and I both want to avoid that.
Katewot
Dec 12, 4:59pm
How much are you looking to borrow? What kind of interest rate are you willing to pay? What length of time?
CrimWalCoug
Dec 12, 4:50pm
Want as good as I can get, but…
Katewot
Dec 12, 5:00pm
If you’re going private, 8-9% is super low - more likely to be 12-15%. What would you use as collateral?
CrimWalCoug
Dec 12, 5:03pm
Buyin 30% more of the company...
Katewot
Dec 12, 5:07pm
Likely a tougher sell. Are you willing to do a Personal Guarantee?
CrimWalCoug
Dec 12, 5:26pm
If I had to yes, but personal res is in a trust...
Katewot
Dec 12, 5:33pm
I’ve come upon situations like yours several times. Only times they worked were with Personal Guarantees.
CrimWalCoug
Dec 12, 6:06pm
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