What would you do if your property investment goes south and you're staring down the barrel of a foreclosure? Would you prefer a lender to take you to the cleaners, pursuing your personal assets? Or do you want the security of a loan that only allows the lender recourse against the property itself? Today's enlightening dialogue with David unpacks the world of non-recourse versus recourse loans, teaching you how to navigate these murky waters as a real estate investor.
We kick off our conversation with the precarious nature of recourse loans, examining the nightmares faced by many during the last recession. We contrast this with non-recourse loans, a popular choice in commercial financing, offering an added layer of protection for investors. The chat meanders into the caveats of 'bad boy carveouts' and how non-recourse loans function for smaller deals under a DSCR loan or a debt service coverage ratio loan. The discussion veers towards conventional mortgages and the potential consequences of failing to pay these off. Packed with real-world scenarios and valuable insights, this episode is the roadmap you need to make informed investing decisions. Don't miss your chance to protect your future investments!
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