All Forum Posts by: Girard Curry

Where is it located?

A word of advice I would give to you would be to not share how much money you have or will be getting publicly.

I think you need to find out what the Net Operating Income is and divide that by your cap rate. You get your cap rate by NOI/SALE Price = cap rate. So if you have a cap rate of 0.05 and the NOI is $10,000 then your purchase price or value will be 200,000. But you have to take other things into consideration such as condition vacancy rate and what your goals are with that property. You should pick up a book called "The Complete Guide To Buying And Selling Apartment Buildings" by Steve Berges.

Go to State Department of Assessments and Taxation, Charter Division, 301 W. Preston Street; 8th Fl, Baltimore, MD 21201. Fill out the LLC form which is not difficult at all. They will ask if you want to expedite the process which means do you want them to finalize the paperwork that day. (Extra cost). Then goto irs.gov and apply and print out your EIN number.

You can look up property information here. http://sdat.resiusa.org/RealProperty/Pages/default.aspx

Does anyone know of any appraiser that works the Baltimore city area and does comp searches.

Wholesaling in Maryland*

Can someone help me with a issue that I keep running into. I am new to wholesaling so I dont really know the ins and outs. I keep getting conflicting answers regarding whether wholesaling is legal or not in the state of Maryland. I just talked to a title company and they are telling me that wholesaling and assigning a contract is illegal in the state of Maryland and the I speak with others that tells me that it is legal and that they have been doing it for years.

Legal zoom and those other companies charge you unnecessary fees if I'm not mistaken. Do it yourself and save some money. It's not as difficult as you may think. I did my 3 myself and walked out of the state building within 25 minutes with my LLCs setup and registered.