Buying Real Estate In A Corporation Vs. Your Personal Name
The Canadian Real Estate Investor
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Managing Properties Under a Corporation
Dylan: I wanted to maybe rewind for a second to the beginning where you started answering and just talk about that personal guarantee that you have to put up if you just start a brand new corporation. Patrick: Well, in simple terms, effectively what it is, is you're going to go to a creditor and they're going to ask for a listing of all of the assets, all the debts in the assets that you have on a personal basis. And that effectively gets lumped in as part of the security package behind the property or the loan that they're advancing to you. Dylan: If Nick stops paying for this portfolio, then I'm going to go take his vehicle and his
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