All Forum Posts by: Gerard Johnson

The idea came to mind during the COV-19 pandemic some business owners may consider downsizing as an option to continue operating. I thought it would be a great idea not only to leverage the office spaces I have but to obtain passive income as well. 

give me a call at 3342247519

I have extra office spaces that I would like to use as a private virtual address/mailbox location. Not sure how to get started. Location in Montgomery Alabama. Looking for ideas or resources.

Me and group of friends who want to get into learning how to flip wanted to partner in a residential foreclosure deal. Not sure how to determine profit split since the roles of each person is different. Investor A and Investor E is doing all the work and paying for the rehab costs. Investor E has the bulk of flip knowledge and experience. What is the proper way to split? I was thinking a 70/20 in which Investor A gets a return on the profit of 40%, Investor E gets a return of 37%, Investor B and C gets 8% ea return on profit, and Investor D gets 7%. 

See info below:

Property cost 152351.16

Investor A 55000

Investor B 20000

Investor C 20000

Investor D 15000

Investor E 32351.16

Please advise what you think is the best way to split profit equitable?

Good day guys. I am facing an issue I might have brought on myself. I have a doctor tenant that is renting out a commercial building. The initial agreement was basic for any general use of the property. Since this was a doctor, his lawyer wanted to make modifications that provide protection for him as a medical provider and per HIPAA guidelines. I was cool with that but what was a month for them to modify & sign the lease agreement turned in to nothing signed. That was back in April 2019. Fastforward now to September 2019 no signed lease. He did create a paper receipt stating month-to-month until a final lease is signed. Paper copy did not outline any tenant or landlord rights. Just his name and my name, amount of rent, and date. Since then he have made changes to my building without my permission. I contacted my attorney for guidance. We submitted a 30 days notice to evict. My question since this is commercial property do the landlord law still applicable? Since there is no lease, can I shut off the water utility? Due to HIPAA I cannot gain possession of my own property with legal action. Being a newbie I did not know this. If I wanted to go in my own building, my rights to possession is limited.