All Forum Posts by: Brian Schroeder

There are so many ways you could approach getting into real estate. A good starting point is house hacking.

@Russell, 

I don't see in the bylaws any mention of wholesaling being illegal in Maryland. Perhaps you're referring to the section 17-101 (I 1-6) which states "engaging regularly in a business of dealing in real estate or leases or options on real estate."

But that seems to say that if you're engaging in such activities, you MUST be licensed which wouldn't be anti-wholesale.

Could you point me to where you heard wholesaling as a Realtor is illegal in Maryland?

Brea - Wholesaling is an excellent way to get into the business. Nonetheless, it is frowned upon, competitive, and it's not something you should do alone. As a Realtor selling luxury homes and working with investors, I'd love to connect.

Hi everyone,

I've come across a few properties that will need to be sold to a cash buyer in Baltimore. I'm curious - does anybody know the implications of wholesaling real estate in Maryland. I am aware that the legality of it is changing in Maryland but I'd like to explain to my broker what the risks to her would be for me marketing a deal. If it's not illegal right now, how is the landscape going to change when you need to be a Realtor to wholesale?

A constant stream of properties, that aren't horrible deals is best. Obviously, it's best to know that the wholesaler isn't sending junk mail.

Bond -

First, thank you for your service. Second, from a financial analysis standpoint, when you're putting very little down (ie: VA loans), basically no deals will cashflow given current interest rates. In many instances, homebuyers looking to utilize FHA financing cannot even cash flow (after the burnoff period of their homestead ends).

What I recommend is looking to a house hacking strategy. Reason being, while it still will be unlikely to cash flow (using a VA loan in a highly priced market like Austin), you will likely be able to live in it, and generate rental income from the tenant.

The beauty of this is that not only will you be able to build up equity in the home (eventually being able to cashflow), but you will be able to live in the house for a much lower cost than you would if you were to rent an apartment or buy a single-family home.

Homes not located in HOAs are the best option for this.

David - I'm a Realtor in DC, NoVA, and Rockville/Silver Spring MD

I'm in Rockville/Silver Spring

 Please share your insurance broker with me as well!