Personal Guarantees and a new LLC Question..

[Aaron Ehrlich]

Hi,
My business partner and I formed our LLC in June 2020. We have 2 SFHs under the LLC, both with commercial mortgages that are personally guaranteed by my partner and I due to our LLC being 5 months old. We have found a 3rd SFH that meets our criteria for purchasing. However, my partner is also trying to find a personal residence. He asked his mortgage broker and a personal guarantee on another property will count as debt and against his ability to finance his personal residence. I have no debt besides my personal residence mortgage (and our personal guarantees).

I'm curious as to what options we have with this property. Here's what I can think of...

1. I could purchase this property under my own name and quit claim it to the LLC. How does this work? What are the risks for me with this option?

2. 100% cash purchase

3. Send the deal to someone who is in prime position to purchase and ask for some sort of finder's fee?

If you were in my position what would you do? Are there any other ways to make a scenario like this profitable? 

Thanks for your thoughts!