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Updated over 11 years ago on . Most recent reply

Account Closed's profile image
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Account Closed
  • CEO
  • from Lawrenceville, New Jersey
  • Member since Sep 25, 2013
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Account Closed
  • CEO
  • from Lawrenceville, New Jersey
  • Member since Sep 25, 2013
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Account Closed
  • CEO
  • Lawrenceville, NJ
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Innovative Strategies

Personal Guarantors

Account Closed
  • CEO
  • Lawrenceville, NJ
Posted

I was recently asked about Personal Guarantors being used to back lots properties. Has anyone ever tried using PG's as a strategy to purchase more properties? I was doing research and I just cannot see people or companies backing properties with their assets. Anyone know anything about using them or is it just better to continue to use lenders?

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Chris Piper
  • Wholesaler
  • from Mishawaka, IN
  • Member since Sep 26, 2013
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Chris Piper's profile image
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Chris Piper
  • Wholesaler
  • from Mishawaka, IN
  • Member since Sep 26, 2013
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Chris Piper
  • Wholesaler
  • Mishawaka, IN
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Chris Piper
  • Wholesaler
  • Mishawaka, IN
Replied

You are better off using hard money, private money, or transactional funding(depending on what you are doing). NEVER personally guarantee a property yourself. You never know what can happen in the real estate business, and it is definitely not worth risking everything you own to make a deal happen.

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