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The Investor’s Guide to a Single-Family Rental Emergency Fund
As real estate investors, your emergency funds are a critical line of defense against unexpected costs. It prevents you from dipping into your budget to handle them. But what should you really use an emergency fund […]
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HomeForumsForeclosuresWhat Happens to LLC holding 5+ Multifam
Dulce Beltran's profile image
Dulce Beltran's profile image
Dulce Beltran
Pro Member
  • Real Estate Agent
  • from San Diego, CA
  • Member since Aug 19, 2017
  • Posts 98
  • Votes 52
  • Experience 10 Yrs
  • Investments 3
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98
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Dulce Beltran's profile image
Dulce Beltran's profile image
Dulce Beltran
Pro Member
  • Real Estate Agent
  • from San Diego, CA
  • Member since Aug 19, 2017
  • Posts 98
  • Votes 52
  • Experience 10 Yrs
  • Investments 3
Connect
Dulce Beltran
Pro Member
  • Real Estate Agent
  • San Diego, CA
52
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98
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Foreclosures

What Happens to LLC holding 5+ Multifam

Dulce Beltran
Pro Member
  • Real Estate Agent
  • San Diego, CA
Posted May 31 2018, 09:00
Hi BP! As I’m going through the process of purchasing a multi +5 units under an LLC and obtaining a mortgage, according to lender building qualifies for mortgage not myself and a personal guarantee would be needed. Worst case scenario, what happens if the property goes into foreclosure? Does my personal credit get dinged or the LLC gets the bad record in turn causing the LLC to go bankrupt? The LLC would be dissolved if it goes bankrupt right?
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