how to get a co signor.?

Question

I need a co signer for a personal guarantee to a corporation I am investing in. This would be extra insurance for the bank to cover their loan. I can get the loan for the initial investment but I do not have any friends or family in the position to help. I would be willing to pay a % of the profits to a co signer. how do I find someone? Advertise? This is no chump change the person could make a very nice return. any ideas

no this is not a scam. The personal guarantee requires that the bank see about $3000 a month in "free" cash flow. It is a very promising local investment

OK, maybe some more details may ease the nae sayers.......This is a local restaurant know the stats on restaurant success rates. the corp needs to raise the rest of the money to get started. In doing so I will be in for 25% if the LLC. As a equity partner I invest the cash and pledge a personal gurentee to the LLC. To cover the 25% of the LLC loan if the business fails. The LLC will own land and a building, If the business does completely fail there is some property to sell to repay the investors (me).

Answer 1

If you have no wealthy friends, you will need to convince somebody of the worth of the investment. Show them some future cash flow predictions and supporting evidence. That is how finance is raised.

Answer 2

I would take a closer look at the corporation your investing in.
1) Why do they need the money?
2) Why won't the bank loan them the money?
3) Can you pay back the loan, even if you make a good return on the investment, when will you see this return?
4) How much research have you done?
5) Can you get a higher return somewhere else?
6) Can you afford the risk?
No such thing as easy money.
Be care full, not only will the cosigner have to pay back the loan if you default, but it will look bad on your credit.
Banks love to make money and tend to offer people at least enough credit to send them into a cycle of dept.

The bank believes the risk you are taking is just too big.

Answer 3

Anyone who is your so-signer immediately buys a legal liability in case your business fails.

So-why should anyone do it? Out of a possibility of making some money, maybe? If you think that is the case, advertise. You will get a large audience. If you find no takers after your ad has been "screened" by a large group of readers, that's a pretty good sign that your business scheme is too high-risk. Better to waste a little money on the ad than to lose it all in some high-risk venture.

Answer 4

Banks require co-signers on loans they feel are high-risk. This would indicate that you are probably not in a position to be investing right now. If you need to borrow to invest, don't do it. Save your money and when you have savings to a level that you can afford to lose your investment, then try speculation. I would recommend you do not do it.

Answer 5

Let me spell out in plain English what others have said in very eloquent language.

"A cosigner agrees to pay back your entire loan, unless you accidentally manage to do it first."

Only very stupid people cosign a loan, unless parents want to help a child, and they are usually still stupid at that. As someone said, if this were a good risk, the bank would not require a cosigner.

Answer 6

i would not cosign a loan for my mother so does that tell you how far down the list you are and she is a major owner of wrigleys chewing gum with 11% of the common stock . Get your parents or some immigrant that can not read or write who has great ctredit and pay him like $50,000.00 to cosign for you - preferably 1 that is getting deported .

Answer 7

WHY do you think that your family and friends do NOT want to be co-signers? Because they can smell a SCAM a mile away and are trying (subtly) to tell you that you are BEING TAKEN for a BIG SUM and to STOP and THINK and save your money!

Answer 8

If he would not pay the indoors maximum loan then the criminal accountability is as lots hers as his and if it is going to foreclosures it is going against her credit too. perfect to attempt to get her off that own loan and spot if the guy can refinance and positioned it in his own call. first ingredient i could do is call the lender and don't positioned it off for a 2d. they're going to attempt to artwork along with her if she would be able to get to the loss mitigation branch-not person-friendly-persevere! this is going to be worth it interior the long-term. they might conform to having the domicile positioned up on the marketplace and then she will possibly not have a controversy however the guy will probable ought to agree. they might conform to a revision of interest fee-can not see how which will help now. OR taking the lacking money and putting them on the lower back of the indoors maximum loan-nevertheless no real help. the perfect selection is to attempt to get the domicile offered. Then she could have the flexibility to declare subject if there is any awesome volume that the economic institution forgives it ought to be a tax difficulty. she would be able to ought to discuss with the CPA who does her taxes on that one. good good fortune-Make the call now!

Answer 9

Is a co-signor Spanish,Mexican or what?