All Forum Posts by: Account Closed

I am new to real estate and have a question regarding wholesaling.  Is it legal in Maryland?  I cannot find a legal basis for it in light of the following:

"Except as otherwise provided in this title, a person may not provide, attempt to provide, or offer to provide real estate brokerage services unless licensed by the Commission as a real estate broker."  MD Code, Business Occupations & Professions, § 17-601.  

“Provide real estate brokerage services means to engage in any of the following activities: (1) for consideration, providing any of the following services for another person: (i) selling, buying, exchanging, or leasing any real estate; or (ii) collecting rent for the use of any real estate; (2) for consideration, assisting another person to locate or obtain for purchase or lease any residential real estate; (3) engaging regularly in a business of dealing in real estate or leases or options on real estate; (4) engaging in a business the primary purpose of which is promoting the sale of real estate through a listing in a publication issued primarily for the promotion of real estate sales; (5) engaging in a business that subdivides land that is located in any state and sells the divided lots; or (6) for consideration, serving as a consultant regarding any activity set forth in items (1) through (5) of this subsection."  MD Code, Business Occupations & Professions, § 17-101.

It sounds pretty cut-and-dry to me. . . . Am I missing something?

Hello BP Community:

Has anyone ever used T’Vinci Properties for their management of single family homes in Greensboro, North Carolina?  My investment group is currently communicating with them and we wanted to get a feel for any reviews that might be out there.  Thanks in advance!

James

@Ned Carey looks legally sufficient to me! Unless the funds are being commingled to defraud creditors or taxes, piercing the corporate veil shouldn’t be an issue!

Hi Brian!

There are certainly plenty of places to obtain a free lease online, but I cannot stress the value of having your own attorney put something together for you, especially if you are looking to acquire more rental properties in the future.  PM me if you need any recommendations, or if you want to meet for coffee in the Frederick area. Best of luck!

James

@Ned Carey “Also rarely mentioned, is there are no provisions for them in many states. Every attorney I have spoken with says there is no legal basis for land trust in MD.”

I haven’t looked into this extensively, but I arrived at the same conclusion when I researched this for a friend.

@Randy H. You seem to be dangerously close with the unethical practice of law. Are you an attorney licensed to practice law in Maryland or in any of the other jurisdictions you claim this process can seamlessly work in? People seem to be relying on you for legal advice.

Hi Everyone!  

I am going to be doing some traveling soon and wanted to download some awesome podcasts to listen to on the plane.  Does the BP Community have any recommendations?

I am not looking for any general Podcasts.  Rather, I need to know the exact episode of a podcast to listen to.  For example:

Grant Cardone on Bigger Bigger Pockets;

Mr. Money Mustache on The Time Ferris Show;

Joel Marion on The Cardone Zone.

Thanks for recommendations you have!   I cannot wait to hear what others are listening to.

James Rippeon

@Mark Creason sure thing, less than $500k, value add, singles and small multi-families.  

@Niranjan Patel thanks for the recommendation!  I am going to add them to my list and reach out.  

Hi Everyone!

My team and I are trying to connect with some commercial lenders in Greensboro, NC, but we are having a difficult time finding someone that would be willing to lend to out-of-state investors.  Does anyone have any recommendations for local community banks in Greensboro, North Carolina that would be able to work with us?

Any and all recommendations are welcomed!  Thanks in advance.

James