All Forum Posts by: Ruth Lyons

@Sharnece Holmes Hi Sharnece, I sent you a colleague connection request. I don't know how to PM you other than doing that. You can reach me by looking at my Zillow preferred agent profile. This forum doesn't allow me to post my email address or phone number. 

First step is to figure out the zoning to see if that's a permitted use of the property. You are essentially talking about using a residential property for a commercial business. You can contact the county to find out. 

@Akayla Rustin In real estate transactions, everything is negotiable as they say. If they've stipulated the agent they want to represent them, then they are paying that agent/broker whatever was agreed to in their listing arrangement. I doubt it's 6% if that agent/broker is representing their interests. You need buyer representation that's not the same agent as the one representing the seller. How do you really know how much to pay? How will you ensure that you are signing all the right docs that represent your interests if you're allowing the seller agent to represent you and the seller? There's a big conflict of interest. You could tell the seller that you understand they want to use their agent to represent them and as is common practice, you would like the seller to pay the commission of the agent you hire to represent you as the buyer. 

@Cami Danielle Welcome to BP. I recommend you narrow your search to an area that's convenient to your current jobs. The DMV is a huge area made up of thousands of local real estate markets and you could easily commute 2 hours each way if you live in Maryland and commute to NOVA. 

What you describe - a multi-unity where you can rent out one side and live in the other - does exist. I'm going to closing on such a property in Elkridge this Friday representing an investor client. But, it's a needle in a haystack that's easy to overlook if your search area is so expansive. Most agents focus on representing clients in a particular locale with which they are familiar because you have to become an expert in an area to find the best deals. If you're interested in looking in Howard or Baltimore counties, I can help you. 

Hi Sunny, You are in the right place to learn! I've been investing in Baltimore and Howard county since 2015 and got my license as an agent in 2018. If you want to have an extended phone call and ask me questions, I'd be up for that. Send a colleague request. 

@Paul Mutch Thanks for your comments, Paul. Absolutely, your agent should provide consultation, and if they're an investor themselves and also work with other local investors, they will know the area, trends, values, etc. and be in the best position to provide great advice. As an agent, I also have the MLS which is rich with historical and current data I can and do mine to provide excellent service. And over the years, I've developed a network of local wholesalers with deals I share with my investor clients. I recommend investors find a great local agent and make them a part of your team. You should also expect to put in a sufficient amount of your time analyzing deals and not rely solely on your agent to do all the analysis for you. Sorry if I lead you to believe otherwise.

@Leon Smith I agree with everyone who has responded. You need to do your own analysis based on comps, not algorithms. 

@Account Closed

Hi again Eric, 

I challenge you to educate yourself about economics, how free markets work and most of all how free markets/capitalism provides greater opportunity, helps preserve individual freedom and produces more prosperity for all. And read our country's constitution for yourself -- our government was not instituted to provide income equality for all or even to support people with handouts. That's a perversion of the constitution fueled by crooked politicians who want power, and uninformed citizens who blindly vote for "more stuff". As a result we have a country that's in huge debt and still printing money to pay for more handouts because no matter how much supplement the government provides to people, it's never enough. 

I would educate you but I can't spare the time because I'm busy working 8-10 hours each day to pay for my own living expenses and the taxes the government takes that reduce what I'm able to keep of what I do earn. I know this is harsh, but I challenge you to look at your circumstances from a different perspective. Instead of being thankful that the government is paying you to NOT work -- essentially paying your living expenses while you get to go to school -- you are bemoaning the riches of entrepreneurs like Jeff Bezos and how he should give money away more of what he earned just because, by your standards, he's too rich. 

@Account Closed

You must be from the generation where everyone gets a reward for showing up at gym class. Regardless of who actually runs the fastest or scores the goals, "you're all winners just for participating! Rah Rah!!" 

There's nothing more destructive to morale and productivity of a society than the mindset you're espousing. Nobody owes anyone free rent, affordable housing, free food, free college or anything in life. Success should be rewarded (yes, financially) and failure should not. 

That's economics 101 in a free society. Your attitude is summed up by Justice Scalia -- "the transformation of charity into legal entitlement has produced donors without love and recipients without gratitude." 

Right now you're collecting unemployment paid for by the taxes confiscated by our government from those of us working and producing the wealth to support you. You are a recipient without gratitude and yes, I'll admit it, I am a donor (as I write a check today for $31,267 to the IRS as a final payment for the 2020 taxes I owe!) without love. 

Many people of my generation would rather work at McDonald's for minimum wage than take charity/unemployment payments from the government. 

Sorry, correction — I meant to write can’t FUND the deal once I find it for them.