$48 Million in Debt

How to make sure a $48M debt isn’t personally guaranteed!
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[connorduffy]

Non-recourse is just a loan to where if you default on the loan they can only come after the specific property/ownership entity the note is for….and not all your other assets.

[CptInsano]

Add non-recourse to generational wealth and passive income to the list of words used to sell courses to people.

[ThaAlmightyWill]

This is only after you've established yourself and have a certain amount of cash flow (bank dependent). Before that, yes, your credit is used as a guarantee for the loan.

[BoostAuthority]

He doesn't have 48 million worth of typical debt he has 48 million dollars worth of income generating assets

[RonlowEz]

He basically told TI you should be teaching your fans this type of information

[Vinus]

"You make money during the day and build wealth while you sleep"
John Hope Bryant

[eugenefontenot]

I did not understand anything you guys are talking about, but I just hit the follow button because I want to learn.

[Markd]

Trust me, getting a non-recourse loan isn't as simple as it sounds. Very few lenders offer these, and they're typically reserved for larger properties or institutional borrowers. Even then, they still underwrite you personally, and the rates can be higher and ltv lower. Plus, it's rarely full non-recourse—they might require lower leverage and have you sign on to things like 'bad boy' guarantees, pledges of shares, and more. For anyone who isn't a big player or dealing with agency financing, securing one of these loans is far from easy.

[GDC-]

TI talking like he just read that definition right before the show. Lol

[taylorsantoro]

Just because they are rental properties doesn’t mean it’s automatically non recourse, it’s also very difficult to get a loan structured without recourse.

[charlottelegalconcie]

The practical application is valuable. You won't get a loan w/out the cash flow whether the entity (business) is nonrecourse or not. Nonrecourse status is something you can define for the entity in the organization/formation documents. It actually means that you are the first creditor in the event of a default/bankruptcy. So, your personal funds are returned to you as the primary creditor with a higher status than your other business creditors.

[PEIDIPPER]

That’s a perfect example of how the government perceives human begins

[DeeElla-oi]

Basically, in most cases you out right own (no mortgage) the property (collateral). You take out a non-recourse loan to rehab the property. You have about 5-6 years to pay the loan back. If you don’t pay the loan back, the bank keeps your home and YOU owe the bank nothing… but they got your home (the collateral you put up in order to get the loan).

The bank is more prone to work this deal with you because your reason of needing the loan is to make the property better by increasing its value and the business you are intending or currently running out of the property (rentals) will be profitable enough to be able to pay the bank back within the agreed time, unless at the end of the agreed time you renew perhaps at a different interest rate (usually fixed) in accordance to market.

[Kalegayler]

My goal in life is to get to a point where I can pay cash for anything without batting an eye. No loans, no interest, just income generating assets for life and the life of my kids when I pass it down in a trust. Easier said than done but that’s the target.

[ghostpepera]

I've been freaking looking for this video for EVER! NO RECOURSE!

[GazaCommonda]

T.I be killing it with these words but I LOVE to see it 🫡

[mistermyself]

Let the entity start missing payments and since the entity has assets, a judgement can be made and property can be taken. No human entities can't homestead property.

[mexicanprivilege]

No bank will give you a loan without either a personal guarantee or a corporate guarantee. They will lien all your properties 😂

[butwhytharum]

Non recourse loan are, "you stop paying you forfeit the asset leveraged on the loan.

Aka you buy a property with debt you walk away from the debt along with the property...

Most countries don't offer non recourse loans (mortgages)

[papapeach]

Non recourse means they take the asset you put up (in this case real estate) without taking everything you own. So to get this straight, you basically buy a home with these non recourse loans, you basically don’t pay on it, and brag about how they only took the house and can’t pursue you for money? Isn’t that the definition of fake real estate? “Cash flow”? Lol I’m struggling where the “cash flow” part comes in? Willy Wonka 🤡 lol