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Updated about 11 years ago on . Most recent reply

User Stats

195
Posts
102
Votes
Jimmy Klein
  • Investor
  • Houston, TX
102
Votes |
195
Posts

What type of loan can I get for this?

Jimmy Klein
  • Investor
  • Houston, TX
Posted

I have raised money from private investors. Total amount raised is $1 million. I am currently looking to purchase a multifamily project worth around $3 million. However the issue is my personal financials. My net worth is about a $100k. I know no bank will be willing to lend me $2 million given my personal assets. Are there any institutions out there that would do this? I am okay with a higher interest rate. I also understand that I will not be able to give a personal guaranty due to the limited personal net worth.

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