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hi this is Jonathan Aceves Mabon commercial where we help business leaders make wise decisions with commercial real estate today were going to be talking about personal guarantees and how they relates commercial real estate if youre a business person and youre leasing space youve probably come across personal guarantees so most commercial leases of for high quality space include a personal guarantee its incredibly important that you understand what impact they can have to you personally and professionally most small businesses dont succeed and so in you know statistically some industries are higher than others I always advise a business person to have an exit plan that includes some bankruptcy planning what are you going to do if the business doesnt do well so if youre signing a personal guarantee if youre signing it in a shopping center or even you know warehouse you know the flexplate space complex that could be a few million bucks you know and so should your business start
