All Forum Posts by: Andrew Chacon

I am new to investing and haven't done any deals so far but I would like to start offering as quick as I can. I am In the process of selecting a hard money lender and trying to get pre-approved but I do not want to get taken advantage of. Do all or most hard money lenders require that you sign a personal guarantee in order to lend to you? I am using an LLC to purchase the property which is why I am guessing they would require a personal guarantee.

I recently just created 2 LLC's of my own and opened a business checking account with Bank of America and was approved. I don't know why they would not accept you when it would be your money in their bank but maybe you can try to use the term Real Estate Holdings which is the type of account I opened? Not sure but I hope it helps.