All Forum Posts by: Justin B.

Hey Bigger Pockets community! I'm a real estate professional working on the legal side of commercial real estate transactions in the Los Angeles area (from Portland, Oregon originally). Currently, I'm looking to dip my toes into personal investment - specifically, I'm very keen to learn more about the opportunity/technicalities involved with combination owner-occupied/rental properties and whether this is really a feasible arrangement or what the implications in getting financing for such a deal could be. 

Always open to new opportunities/connections, and the possibility of lending some of my skills to add value to potential other deals!

 @Nicole A. - definitely agree on everything you said, but at least in CA, the guarantees we've been seeing put "you" and your personal assets at risk of being dragged into litigation if the lender can't recoup just from foreclosure/through the LLC - for instance if you're holding an underwater mortgage. Generally, lenders/lien holders do need to go through the LLC first though, but any guarantor should be careful and seek counsel before signing on - every agreement is/can be different.

Jesus, while it may be good to limit your personal liability via a LLC entering into any agreement, you'll find most savvy lenders (and loans offering satisfactory terms) will require a guarantor if lending to any person/entity with limited credit/financial history - that guarantor will likely be the individual owners of the LLC.