All Forum Posts by: Sherman Ragland

@Lavaud Charlemagne -  Really depends on what you want (need) to do....  I’ve been a Mac guy since 1984. Used a PC twice during that period, but got sick and tired of viruses and blue screens, so pretty much Mac for 30+ years. I have a MacBookPro, IPadPro, iPad, iPhone and Mac Air.  The Air is pretty much worthless for just about everything.  The iPadPro is great for watching movies on long flights, but not much else.  More and more websites no longer use flas, so I can do 90% of what I need to do with an iPad and iPhone. Just got the 6th generation iPad, so it uses the pencil if you need it. Also, more and more you can use apps on the iPad to do what you use to need Photoshop and an MacBookPro to do, such as Canva and WordSwag.  Unless you’re editing movies in FinalcutPro, or need to access sites that use Flash, an iPhone or iPhone will probably do the trick for 90% of what you’ll do as an agent.

@Bruno C. we have a brokerage here in Maryland (DC area)  that only caters to agents who are either investors, or want to specialize in working with investors.

Here’s a couple of things to think about...

1) Most franchised brokerages have a business model that the broker is forced to follow, therefore, look at brokerage firms that do not focus on “getting listings”, like KW and C21.  REMAX makes money from their monthly fees, so if you can afford the fee this might be a good option as they will not pressure you to get listings or recruit other agents.

2) Your best option may be a small independent (solo broker, no (or few) agents) where you offer to cover some overhead, even if you do not require a physical office. There are many investor/brokers as well as attorneys (especially title attorneys) who also have a brokers license.  Since this is public info you may want to go to the state and get a list of all the brokers nearby and ask around to see who may be a good fit.  Sometimes just offering to pay (or share some if your commission) is enough to entice an independent to say “yes”.

3) Regardless of whether they are affiliated with a franchise, or they are an independent, every broker will have to carry you in their E&O Insurance if you hang your license with them. Be sure to share what your strategies will be as some will not be in sync with the E&O carrier. If you are not interested in working with clients this is a plus, as this is typically what causes an E&O claim.

Finally, look to hang your license with someone who can mentor you as an investor.  Most independent brokers are independent for a reason. They gave their way of doing things. If you can find one who has done experience under their belt in investing, as well as a few tricks up their sleeve you can learn, latch on to them and don’t let go.

Remember: “You’ll learn this business (best) by doing it!” So find a broker who’s doing what you want to do and make the best deal you can. In the end it will be worth more than what ever it costs in the short run.

@Samantha Hyatt - Welcome!

You might be surprised just how many small scale (4-12 unit) apartments are within reach and driving distance of you, right now.  If you have not done so already, get on the mailing list for Ben Frederick, http://benfrederick.com/ .  Ben is 3rd generation real estate broker in Baltimore who specializes in these small deals.  There is also plenty of money right now for these deals.  I’ve done a couple of apartments in Baltimore, a 12- unit and a 22 unit, and I’m working on a hotel deal in the city.  

It’s a great time to be a commercial real estate investor in the region.  -Sherman

Anything in Prince George’s, please send my way...

Yes! Anything that looks like a “Net Listing” is to be avoided. So do not wholesale, nor let any of your (future) Agents wholesale deals that are your listings, or where you are acting as a “Subagent”. As far as disclosures, just get in the practice of adding “one or more parties to this transaction is a licensed real estate professional” to all of your contracts, where you are acting as a principal and not (just) a broker/agent. Other than that go have fun, make money and have a good real estate attorney at “the ready” for those one off deals you’re not 100% sure about...

Hi Bob, welcome to the tribe. We’re in Bowie, and most of our group does deals within a 30 mile radius of Bowie. We have a few folks in our group from NOVA AND MOVO. Please let me know if we can help.

You do not need a license to invest in notes. Depending upon what you do with the note, you may need a license, or hire someone with one to take a specific action. As an investor, you are the owner of the asset. Rarely do you need a license when you are representing yourself.

Terry, congrats on getting this far. Doing it 100% on line is tough. We have a school in Upper Marlboro. If you’d like some tutoring prep with a certified instructor, please let me know. We can probably work something out that fits your budget.

Depending upon how much of a “networker” you are, you might want to consider going into a referral status. Most brokers have a referral agency that is separate, but works with their primary brokerage. For agents that associate with the referral agency, there usually is no board dues requirement. Technically, you are not actively working with clients, but you can refer people who are looking to buy or sell to an active agent and get a 25%-30% referral fee on any commissions generated. You would still need to meet the state’s CE requirements, but this is a great way to keep a license active (and reduce annual costs) for someone who is great at generating business, but either does not have the time or desire to work the business.

Giovanna - no, in Maryland real estate is real Property. If you are using the LLC simply to flip one deal, it should just contain the real estate and not any of its contents or anything else that would be considered personal property, such as the industrial lawn mower that the prior owner left in the garage.