All Forum Posts by: Michael Johnson

@Danny Grey have you seen the movie Tron? the new one? In the beginning he jumps of a skyscraper and parachutes gets on his motorcycle, gets away from the cops. Then goes to this awesome Man-cave. I bet my garage will be better than most peoples houses. I want to stay in the garage not to save money, but to be able to rent more rooms so that I can expand further. What would you do?

@Deanna McCormick you seem like a thorough person, I like it. Have you ever had someone get hurt on your property? or other liability issues. 

can you touch on any of the issues you've had so far? Just so i can get better bearings.

lol @David Zheng I'm not ready yet but, one day we'll work together.

excellent tip thanks! @Glenn D.

@Deanna McCormick workers compensation? Do you mean like The agent handles your workmans comp also?

@Deanna McCormick Can you think of any ways to pass liabilities on to tenants? Do you have any experience with renters insurance?

@Glenn D. do you have anythings off the top of your head that you would have in writing?

Im planning on buying a single family house in Fort Myers, Florida, and rent it to college kids. Rent out the rooms and I'll live in the garage (dream come true kinda).

NOW, if I tell the tenants, "Sure have people over but if you are going to have alot of people over, do it out back (basically no raging parties inside). Get it out of your system. Without destroying my house with people you dont know."

BUT THEN, lets say someone is underage and the party gets busted. How can I keep myself safe from that kind of liability.

of course the easy answer is "no parties" but Im looking to protect myself from the unknown unknowns, The ridiculous things you dont see coming. 

I appreciate all advice, thanks in advance!

Hey, Welcome! BP is FULL of good information start with the podcasts or whatever is easiest for you. Look around, explore.. There is a lot here.

im not sure, its a good question.

But if its holding you up, throw in 10% vacancy. Thats supposedly pretty high. Then while running the numbers a second time knock it down to 5% just because.

Welcome to BP by the way.

Wholesaleing is what interested me at first. The ability to jump in and just get started is really what excited me. I feel like Newbie wholesalers in my area (we are in different markets) should meet up together more often (I just haven't seen it). Really all areas and markets.

Im ok with hanging out with people who havent succeeded yet, as long as they are trying to figure it out.

@Sterle Scott I like the point you are trying to get across, Thats basically exactly what I feel I would say after I got to the point of being able to help people get started. You seem like a good guy. After the new year Id like to swing by your office as well if I can invite myself? aha.