Lenders - How do I show interest in LLC on personal financials?

[Daniel Dietz]

Hello, 

I have been working on coming up with a more accurate personal balance sheet (as have my two partners in my LLCs) and personal financial statements. 

One things we are a bit confused on is how to show the assets (rental homes) and liabilities (mortgages) of the properties we hold in 3 way LLCs. Our lenders have told us that since we EACH needed to sign 'personal guarantees' on the loans to the LLCs each of our 'personal debt' for those properties shows up at 3 times what we each owe when divided up evenly. 

An example would be if our LLC bought a property for 750K and borrowed 600K. Seems like we should each 'own' 250K worth of real estate, and 'owe' 200K in mortgage. Sounds easy enough. What lender is saying is that when they do credit check it shows up that EACH of us are responsible for the ENTIRE 600K.

So is there 'a generally acceptable method' of how this should show up when we come up with our personal financial statements? Do we each 'own' 750K and 'owe' 600K, or each just 1/3 of that? The later seems logical, but not sure. 

Thanks, Dan Dietz