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Updated almost 7 years ago on . Most recent reply

Dulce Beltran's profile image
Dulce Beltran's profile image
Dulce Beltran
  • Real Estate Agent
  • from San Diego, CA
  • Member since Aug 19, 2017
  • Posts 99
  • Votes 52
  • Experience 11 Yrs
  • Investments 3
Connect

User Stats

99
Posts
52
Votes
Dulce Beltran's profile image
Dulce Beltran's profile image
Dulce Beltran
  • Real Estate Agent
  • from San Diego, CA
  • Member since Aug 19, 2017
  • Posts 99
  • Votes 52
  • Experience 11 Yrs
  • Investments 3
Connect
Dulce Beltran
  • Real Estate Agent
  • San Diego, CA
52
Votes |
99
Posts
Foreclosures

What Happens to LLC holding 5+ Multifam

Dulce Beltran
  • Real Estate Agent
  • San Diego, CA
Posted
Hi BP! As I’m going through the process of purchasing a multi +5 units under an LLC and obtaining a mortgage, according to lender building qualifies for mortgage not myself and a personal guarantee would be needed. Worst case scenario, what happens if the property goes into foreclosure? Does my personal credit get dinged or the LLC gets the bad record in turn causing the LLC to go bankrupt? The LLC would be dissolved if it goes bankrupt right?
  • Dulce Beltran
  • [email protected]
  • 858.333.7597
    • 0 Votes
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