Limited Partnership - Mortgage Question

[David F.]

Hello All,

Question:

My situation is as follows: I have been a real estate analyst for the past 6 years and have all the knoweldge and knowhow as to what a succesful commercial real estate investment looks like. I don't have much money and the only way I could ever purchase a building on my own would be through bringining in a partner/investors. I would provide the expertise and asset management skills, they would provide the capital.

Issue: I live in Canada. Up here practically ALL mortgages are recourse loans (given that I would like to purchase a multi-family property). It would be IMPOSSIBLE to be able to entice someone to come in, put up the capital AND the risks that are associated with putting up a personal guarantee. Most investors simply would want to invest and limit their risk to what they have put up.

What should I do? The only solution that I have come up with is if I can sell the risk. That is, I have to find someone who would be comfortable with being the guarantor and he would be compensated with x% of the returns and income. If anyone has any other ideas, I would be thankful.

Take care,

David F.