REIS

MEMBER BENEFITS

Maryland Foreclosure Purchase Law

Foreclosure Purchasers must share profits of resale under certain circumstances. click here to find out more.

For the complete law about foreclosure counseling, who may be construed to be a counselor and what the means to the end buyer on a resale or flip, click: Maryland Library & Information Service  The link will connect you directly to the statute beginning at section 7-301. The applicable sections run through 7-321 (but the linked pages will continue beyond that point).

Useful Links

MMIRentals.com - The hosts of REIS invite you to visit our site. See what we offer in services to landlords. We know you may prefer to manage your own properties--you are very active investors if you are REIS members. But, you have friends. The more you know about us, the better able you will be to recommend us for leasing and management. Your referrals are much appreciated and will help support us in the continued operation of REIS while membership grows.

MMIAssociations.com - MMI has proven itself as a leader in suburban Maryland residential real estate management. Now, we're going to do it again in condominium and home owner association management. We have earned all the certifications and recognition of our peers. We have demonstrated our ability. All we have left to do is add clients. We truly feel we are the best in the area and we are poised to get even better in the coming months. Please have a look at our program and tell your friends. If you have friends on community association boards of directors, let them know we are building an email list for training programs and newsletters. They can get on the list by emailing chris@mmiassociations.com or calling Chris Majerle at 301.220.1850 ext 16.

Clark Development Group - Our January guest speaker, Cecelia Lumpkin, explained how Clark Development Group purchases homes through a combination of taking over the existing first and using private loans as a 2nd trust. You were invited to lend them the second at 12%. Occasionally, if an investor brings something else to the table, expertise in finance, restoration, or the property itself, CDG may consider partnering enabling the opportunity for higher profit... and adding risk to the equation. As an investor/lender, your loan is secured by a second and your risk is limited to the amount of the loan. 

Consumer Products Safety Commission - The government agency charged with protecting the public from injury and death from more than 15,000 products under its jurisdiction. This site contains recall and safety notices, a kids section and much more valuable information for consumers.

George Mason University-Center for Regional Analysis - Chris Majerle gave a presentation of statistics at the January REIS meeting which were drawn from this website/slideshow and talk given by Dr Stephen Fuller, Director of the Center for Regional Analysis. Here, you will find forecasts for the region's job market and housing markets from 2007 through 2011.

Internal Revenue Publication 527 - The IRS publication you need to understand all aspects of federal taxation of rental property, including vacation homes and renting part of your home.

Maryland Dept of the Environment-Lead Program -  Direct link to the State's Lead Poisoning Prevention Program website for up-to-date information on compliance requirements for Maryland Landlords

Maryland Dept of Licensing & Regulation - Before you hire a contractor, plumber or electrician, check the status of their license at this site. Never hire unlicensed trades and always require that their insurance carrier issue a certificate to you before they start. Did you know it is illegal for a contractor to require more than one-third of the contract price as a deposit?  Don't do it!

Maryland Home Warranty Companies - While MMI does not recommend the use of a warranty company, our clients often ask about them. Here is a link to several companies for you to compare... read the fine print!

Realty Exchange Corporation - Bill Horan of Realty Exchange Corp spoke at our November 2007 meeting. REC is a qualified intermediary for tax deferred exchanges. If you have an investment property that has appreciated in value and you are thinking about selling, you MUST call Bill BEFORE you take the first step. He will make sure you pay little or no tax.

Zillow.com - 67,000,000 Free, Instant Home Valuations. No, we do not find this site to be particularly accurate, but it's a good place to start for a ballpark valuation.