How much are you looking to borrow? What kind of interest rate are you willing to pay? What length of time?

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Dec 12, 2024
4:50:54pm

CrimWalCoug All-American in practice

What are you using as collateral?

This message has been modified

Originally posted on Dec 12, 2024 at 4:50:54pm

Message modified by CrimWalCoug on Dec 12, 2024 at 4:57:09pm

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CrimWalCoug

Bio page: 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.

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