Hello Everyone,
I am in the process of putting together my first residential real estate deal and ran into a problem when I talked to me lender. I am using a local credit union to finance the property, but they will not allow me to personally guarantee a loan for an LLC. I had planned to structure my agreement with investors using an LLC. I considered doing a quick claim deed, but that would trigger the due-on-sale clause and I don't want that.
My question is how do I structure an agreement with investors to allow them access to both equity and cash flow? Do I form a limited partnership with an agreement specifying these details? How can they have equity if partnership isn't listed on the deed?
Any information would be greatly appreciated.
Cheers,
Garrett
