Financing

[Karl Spencer]

Hi all, new to site.

I am looking for any thoughts on a mortgage issue.

What I am looking to do is obtain a new mortgage that would be for both property #1 and #2 ( new property ).

Right now property #1 mortgage is for about 20-25% of the value of the bldg, and I have DCR of 1:2.1

If I buy the other property as well, the combined LTV would be 50%

If I took out a new combined mortgage for 15 years my DCR would be a 1:1.8 not inclusive of any income from property #2

The properties are under an LLC, why would the bank want me to Personally guarantee the note?

I feel this a pretty solid deal, am I missing something?

Thanks for any input.