Another aspect is that you may be saved under state law that could limit guarantees of minority stock- holders, as they can be and are, but not if they provide a guarantee voluntarily when the debt is created.I suggest that you see your attorney and address the by-laws with a hold harmless and indemnification agreement between stockholders and the assumption of debt with a personal guarantee by those admitted to the corporation between officers, directors and stockholders.

@Gary Burmaster , that is an aspect I hadn't even considered.

I been looking at the licensing requirements for it.Will jump into that once I get the ball rolling on other aspects.

Maybe you are imagining the terrible things that could happen that you would be liable for, but look at it this way; your guests are exposed to far more risk driving to and from you place and insurance adequately covers the financial aspect of that risk.

So I'm doing a lot of research regarding buying notes, haven't bought one yet, but it looks like it could be a bit of fun.I was checking out some loans on various websites (I'm sure these aren't great deals, same with finding house on websites) as a way to familiarize myself with different aspects of loans, I figured I'd stick to performing loans, could just hold for a decent return, or maybe tweak them a bit and create a little win-win situation.Then I'm seeing these heavily discounted 1st lien NPN's, now I can see a great opportunity in modifying these, allowing someone who wants to to remain in their house for a lower monthly, and since the note is heavily discounted creating some nice cash flow for my money.

Money: I looked into every aspect of my bills, where I was spening it and cut back.

However if you do not feel comfortable your best bet is painting a truck or van with what you want and park it in strategic areas.

Welcome to BP community @Derick Chambers  It is a great place to meet new friends and learn about various aspects of real estate and more. 

Welcome to BP community @Eddie Marcano  It is a great place to meet new friends and learn about various aspects of real estate and more.

Welcome to BP community @Chris Aall  It is a great place to meet new friends and learn about various aspects of real estate and more.