All Forum Posts by: Michael Johnson

Oh, that sounds well worth it, Thanks!

That was my next question, about the legality of being in a garage. Its on my "To-Learn list" not even just a hammock and a TV? (kidding, mostly) 

Well, Im young. So I am using that as part of my competitive advantage. I feel like being able to plug in completely with the niche will keep my vacancy down at least. Best case scenario I become the go-to guy in the area. 

But if Im like "yea the house is cool, Im cool, Youre cool. Life is cool. yolo, NO PARTIES" I feel like its shooting myself in the foot. 

I like parties as much as the next guy. But, I went to college. I did dumb things. Other people will too. This is definitely business first at all times, and on all fronts. (but i do wanna party just a little bit, you caught me) @Joe Splitrock

To me, the liability of someone getting hurt on my property makes me more nervous than a roof about to collapse. Then again I don't own any roofs yet. 

@Jared Townsend

yes it does, can you give me an example of what a million dollar umbrella would cover, that the 300k would not? 

hey @Jared Townsend I'm planning on renting to college kids. What should i look into to protect myself from idk.... underage drinking or someone steals a girlfriend then gets in a fight, loses a tooth then tries to sue me. Like all the crazy stuff that i wont be able to see coming. Something along the lines of an umbrella policy? complete newbie. Thanks.

Well what are you trying to do? I agree, i Highly doubt youll find a parent who will want to do that. But then again its all in the presentation. If you talk to them and basically convince them to start investing in RE. then you can explain that they get the cashflow. But if you wanted to keep the money then why would they want to help? 

Id say lease it yourself.. then rent it month to month (to evict easier) longer leases available with cosigners maybe. The property sounds cool. Just gotta make it work 

Good luck!

wow it really pays off to do things right. I am a risk taker at heart. 

So I'm really trying to figure it out first. Last question and ill let you go,, Roughly how much does renters ins. etc. cost in your market? @Deanna McCormick

mention me whenever you are ready if youd like.

@David Zheng did you choose your area because of that school, or did it just work out?.. I guess a better question is, what information did you pull for your market and strategy (colleges), and why is it important?