All Forum Posts by: Jamaal Hunt

I went to google to "withholding 7% form" and it is Maryland Return of Income Tax Withholding for Nonresident Sale of Real Property (MW506NRS)

Form used to determine the amount of income tax withholding due on the sale of property located in Maryland and owned by nonresidents, and provide for tax collection at the time of the sale or transfer.

This is the "application form"
MW506R
Application for Tentative Refund of Withholding on Sales of Real Property by Nonresidents

Form used to apply for a refund of the amount of tax withheld on the sale or transfer of Maryland real property interests by a nonresident individual or nonresident entity which is in excess of the transferor/seller's tax liability for the transaction.

It was great and fun. I dont mind coming down again from Baltimore to talk to DC Investors.

I went to google to "withholding 7% form" and it is Maryland Return of Income Tax Withholding for Nonresident Sale of Real Property (MW506NRS)

Form used to determine the amount of income tax withholding due on the sale of property located in Maryland and owned by nonresidents, and provide for tax collection at the time of the sale or transfer.

This is the "application form"
MW506R
Application for Tentative Refund of Withholding on Sales of Real Property by Nonresidents

Form used to apply for a refund of the amount of tax withheld on the sale or transfer of Maryland real property interests by a nonresident individual or nonresident entity which is in excess of the transferor/seller's tax liability for the transaction.

Once you have that "first" notch in your belt everyone will start sending you friend requests on facebook and want to "partner up" so that is where the "interview process" begins

Some will claim "I’d rather not waste time/ money sending someone out if the deal isn’t going to work anyway." Which is bollocks if you cant send your guy to "check it out" Well too bad and you missed out

Well the bad news is that there could be chances and possibilities that you will only get 3k in a wholesale deal. Will you say "no that is too low"? Of course not and I hope you wont.

http://youtu.be/5sG2mTybTr8

check it out

Came back from the settlement table today. Here I am thinking it was going to take forever by taking off and boy it was alot faster than I thought. We were done in about 35 minutes. Buyer got the keys, seller got their cash and of course I received mine.

I've obtained 1K. I could've received alot more upto 6k but you have to read the earlier posts in the thread for the story. So right now I'm 1K richer and Ill get paid from my "part-time job" this friday.

Tomorrow is that day. Yes tomorrow. Ive made the "business" decision to take time off. I'll be too distracted at work leaving early to get to settlement.

Michael Rious

http://casesearch.courts.state.md.us/inquiry/inquiry-index.jsp

I am actually placing consideration of doing this as well. I'll pay about $50 mo to owner for the right to sell and assign property to end buyer in 45 business days. Seller is happy and Im being open and honest up front of me making a profit and I appear to be more credible than random people whom are "pretending" they have cash.

A person may ponder: "what if you have 5 properties paying $250/Mo?"

Imo itll force me to be motivated since I have actual skin in the game because if I dont sell in that time frame I lose the money and cant get it back. Now if the property reach closing then money paid will be credited at settlement.