All Forum Posts by: Austin Smith

Would you PM or message and I can exchange my email to receive 32+ unit apartment deals?

@Darius Ogloza

Would you trust a c/s corporation more than an LLC for the foreclosure protection?

@Michael Kinsella how large does the deal have to be to be non-recourse?

how many units? How much does it have to cost (2million? 10 million?) to get a non-recourse loan for commercial?

If I have the property in an LLC or corporation and I get the non-recourse loan and worst case scenario the house explodes/burns down and I can't pay back the lender and I have to foreclose - I don't have a foreclosure on my personal record, all I lose is my down payment, and the foreclosure is on the LLC/Corp and I dissolve it and that's it?

One lender said it’s non-recourse too 

A different lender said I would have to sign a personal guarantee?

Doesn’t signing a personal guarantee mean it’s a recourse loan?

Can I have a non-recourse loan and sign a personal guarantee and it still be non-recourse or does non-recourse by definition mean without a personal guarantee?

How easy is it to get a non-recourse loan for a fix and flip?

I’m just thinking what is the worst case scenario for a fix and flip? 

If I get a non recourse loan and don't have to personally guarantee the loan and put the property in an LLC if worst case scenario happens wouldn't I just lose my down payment and i wouldn't have a foreclosure on my record?

Can you get a non recourse loan and not have to personally guarantee for a fix and flip?