How do I keep money partners from personally guarantees?
I am doing a $750k raise on a $2.9 million medical office building. I am offering the limited partners a preferred return plus 50/50 of the financial benefit in the property, I.e. the cash flows, appreciation, and depreciation benefits.
How do I keep it so that I am the only personal guarantor while keeping my investors interest secured in the property?
All of the local banks I have talked to need other personal guarantors if I don't own 81% of the membership interest in the LLC which owns the property. The property is located in Rochester, NY.
