All Forum Posts by: Brendan D.

Thank you so much and that's what I really need. Could you tell me which office you went to get your LLC? What do you need to bring? And you file an LLC and get in an hour?

@lian shi

I go to the SDAT office at

State Department of Assessments and Taxation, Charter Division, 301 W. Preston Street. Go to the 8th floor. There are signs that will guide you. Fill out the articles of organization before you go. Let them know that you want to file an LLC. for an extra $50 they'll process it and hand it to you that day. The longest it's taken me is 40 minutes. It's MUCH faster than doing anything at MVA.

You can find the articles of organization at http://www.dat.state.md.us/sdatweb/artorgan.pdf

You can also form the LLC online at https://egov.maryland.gov/easy

I haven't done it this way yet as I haven't needed a new LLC lately

1 Vote

Originally posted by @Lian Shi:

Hi group,

I want to wholesale a deal in Maryland, I am not a realtor and I haven't formed an LLC (I am going to form soon but it takes 7-10 business days in Maryland in LegalZoom), My question is how to transfer the contract or property to my buyer when I am wholesaling the property?

Any suggestion is appreciated. Thank you.

You can set up a Maryland LLC online it's quicker and if you pay the expedition fee you can get the articles of organization in a day or so. Personally, if I need it quickly I go to baltimore, pay the $150 and have it set up in less than an hour.

1 Vote

Originally posted by @Account Closed:

The thing that still baffles me about wholesaling is, how does one go about convincing a seller his house is worth thousands less than its appraisal value. And wouldn't that be taking advantage or the seller. Always hear, a good deal is where everyone's happy. I can't imagine the seller would come off happy when you rip them off.

most sellers i've dealt with don't have recent appraisals. also i look for houses that need work so that's not an issue. the issue most of the time is the sellers assessment of the amount of work needed and the costs to get the property in retail sellable condition. as an ethical investor i wouldn't try to convince someone to sell me their house for less than it's 'appraised' value. in that situation i'm not their best option. but as has been stated earlier, it depends on what the seller is looking for. if it's a quick hassle-free sale they want, they'll happily take a low cash offer.

1 Vote

Originally posted by @Sandy Weed:

Does anyone in the group successfully wholesale MLS properties? Any tips and advise is appreciated. I am a licensed realtor in NJ.

Thanks

I've done it in the past when there were a ton of REO deals in the MLS. I'm not a big fan of it now. To do it successfully, you have to submit a ton of offers. Also, be in position to actually close on the deal. Some rehabbers don't like buying MLS deals from wholesalers. Others don't care as long as the numbers work.

0 Votes

Originally posted by @Heather Angelo:

I've had similar questions about the Clever Investor program, specifically the fast track, not the mentoring. I've attended a couple of webinars and there is definitely a fair amount of upselling, but even viewing the free videos and attending the free webinar, I've come across some new information that I haven't seen elsewhere yet - specifics like how to setup and automate video marketing and things like that.

I attended the webinar that introduced the fast track program for $297 yesterday. For that $297, you have a 30 day no questions asked money back guarantee and the program comes with a 6 step process and action plan to get started, access to his M5 marketing system which automates email, text and direct to voicemail marketing, scripts for marketing and a few other things. There are lots of written and video testimonials from current mentor students and from current fast track program users that look pretty good.

On the one hand, I feel like the marketing system and contracts would be well worth the $297 and the 30-day guarantee makes me feel better, but because of all the advice from sooooo many investors on this site that basically make it sound like it's bad to pay for any type of guidance/training, I'm leery about trying it. Based on the information provided above, would you still say steer clear or is this worth a shot? I'm a beginning investor looking to build my business on wholesaling and, although I respect what others have taken years to build, I don't want to spend years spinning my wheels trying to get started, losing money in the process, when there is a product available that could (1) point me in the right direction, (2) help me with a clear action plan (do this, this, this and then this) and (3) provide me a tool to take the marketing piece to the next level. Thoughts?

Thanks for looking.

Pay that no mind. they're just giving their opinion which is like one of those things everyone has. it's kind of overbearing to suggest that everyone read and learn from a forum, when not everyone learns the same way but i digress...........

what i'd suggest is to see if you can get someone from cody's office on the phone to answer your questions. if you trust it, go for it. just remember to implement fast............

with that being said, i don't think there's any substitute for learning from an investor in your local market

1 Vote

Originally posted by @James Green:

Also forgot to add, as an exercise on the 1 or 2 day, they "teach" you how to raise our credit limit for "investing purposes". Needless to say we did it, and abracadabra on the 3rd day, we were able to afford our REI package.

There's a good REIA out your way, that has some active investors actually doing deals. Network with local rehabbers and other investors. They know what's going on in that market better than Sean Terry.

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getting started i focus on distressed properties, and properties that are vacant. in my market it's easiest to wholesale deals to rehabbers.

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i would tend to think so as long as the proper disclosures are made. You don't have to disclose you're intent to wholesale, just the fact that you're an agent. But state's are different so it makes sense to check in your area.

As someone who's wholesaled deals out of the MLS, I'd say only put properties under contract that you would actually close on if necessary. Nothing ruins your rep with listing agents faster than getting properties under contract and NOT making it to settlement.

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haven't seen Lance's course, however Dave Lindahls is the go to guy for training on buying apartments. our local REIA has a 90 course on buying apartments. check your local REIA and see if they have something similar.

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I've heard good things about Mark, so I'd assume that his course is quality. Steve Cook's wholesaling course is VERY good and affordable.

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All Forum Posts by: Brendan D.

Brendan D. has started 2 posts and replied 92 times.

Post: Wholesaling in Maryland without LLC

Post: Wholesaling in Maryland without LLC

Post: Convincing a seller their house is worth less that it actually is

Post: Wholesaling MLS Properties

Post: Clever investor

Post: Guru training seminar success!!

Post: Curious about wholesale properties

Post: Real Estate License VS. Wholesaling

Post: Lance Edwards Apartment Program

Post: Mark Whitten, MD area