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Updated over 4 years ago on . Most recent reply

User Stats

4
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0
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Benjamin Meinsen
  • Property Manager
  • Farmington, MO
0
Votes |
4
Posts

How to avoid the personal guarantee on a loan.

Benjamin Meinsen
  • Property Manager
  • Farmington, MO
Posted

So I need some help, we just bought our first room to brrr and we sign a “personal guarantee” with the bank. Which is if something where to happen we are personally responsible for the loan. (but you probably knew that). It’s not a big deal now because it’s a small loan, but if/when this takes off I don’t want my personal assets to be liable. How do I avoid signing the “personal guarantee”?

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