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Updated almost 9 years ago, 01/05/2016
Non-Recourse Loan or Line Of Credit in Monterey Bay Area
One of my real estate mentors lives near Carmel, California. We will call him Stu. He's a self-taught genius who didn't finish high school or attempt college. Because of this, he has never felt comfortable sitting at the table with highly educated investors using complex vocabulary.
So Stu only works with a few close friends who know him and with whom he feels comfortable. He has made them good money, but they are getting older. One has passed.
Stu has successfully completed over a hundred deals in his lifetime. During the crash of 2008 he lost $5,000. Very savvy and safe hustler. I am helping him put together a portfolio of his work, which is extensive.
My questions to the community is this:
If I were to bring Stu and his portfolio to a lender in Santa Cruz, Monterey, or Carmel area, who would you recommend? I imagine Stu would prefer a line of credit with some of his property as collateral instead of a recourse loan.
Hope all is well. Thanks for taking the time to read. Will.