It wasn’t a massive deal—our expected assignment fee was $10,000—but when you’re growing a business, every opportunity matters.Everything seemed to be moving smoothly until the title search revealed a major roadblock: the mortgage discharge couldn’t be cleared because the person who needed to sign off was deceased.

Also credit score 680 with no missed payments over the last 2 years and also check their criminal report just to make sure you know who these tenants are, as the eviction process in New York city is very long and expensive. 

The title company will handle clearing the title but won’t manage personal agreements.

Like @Vince Scipione said, good for you for being a decent person!

Either way if you personally guaranteed the note, yes it will affect your personal credit no matter who the property is titled to.

I personally have been an investor in Chattanooga since 2021 and the market has shown tremendous growth and strength, and I'm super optimistic for the future.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

I personally am not investing at the moment. 

I have personally wanted to build my home on this land for 10 years, as I've always been interested in this.Issue is, I've never done any work with residential development, only smaller land development, about 13 acres, and commercial, all on my own.With the residential development, I'm trying to get a sense of anyone in the space currently and what some ballpark costs might be for infrastructure and how that all works.

Are you building for pure investment purposes or are you looking to use some of the space for personal/personal business use?