Thursday, March 31, 2016

How to pass the Maryland Real Estate exam the first time

         Congratulations on your journey on getting your Real Estate License for the State of Maryland.
Below are some helpful hints and tips on passing the exam. The MD Real Estate exam consist of 2 parts; a National Exam portion and the MD State exam portion.

Passing the National Real Estate Exam:

  1.  The National Real Estate Exam portion is all about Vocabulary. So get some flash cards and    remember those keywords and terms such as Eminent Domain, Joint Tenant and etc...
  2. Create different Analogies to help remember what different Vocabulary terms means, example Joint Tenant could be related to your left arm; your left arm is made up of your hand, forearm and shoulder. These different parts make up your Left arm as a whole similar to a Joint Tenant relationship where "two or more persons in  each owns an undivided interest in the whole."

Passing the Maryland State Exam:

  1. The Maryland State Exam is a little harder due to a limited amount of questions. The key to passing this portion is study your training material as a Broker not as a Sale Person. The reason I say this is because alot of questions are related to the Broker do's and don't's as well as the Broker requirements, responsibilities and duties.  
  2. Visit the Maryland Real Estate website www.dllr.state.md.us for current information on the laws that govern Realtors, due to the study materials not being up to date with the current market. Here is a direct link http://www.dllr.state.md.us/license/mrec/mrecteams.shtml on the Do's and Don't's for Maryland Real Estate. 
  Good luck on the exam, study your materials entirely and stick to what you have learned because the questions on the MD state exam are tricky and misleading design to have you second guessing. If you followed my guideline you will definitely pass. If you failed one portion of the test your halfway there since you only have to complete the failed portion within a year.

Once you pass the next step is aligning yourself with a Broker which is another story all be itself. Please reach out to me call/text or email I will love to help you on choosing a Broker or answer any questions that you may have.

Monday, March 21, 2016

Wednesday, March 16, 2016

For Virginia Residents Seeking Down
Payment Assistance …
The VHDA’s DPA Grant program is back!

If your a Virginia Resident this is pretty awesome

Monday, March 7, 2016

Coal to Diamond, as hideous and dirty as coal is with the right amount of pressure it becomes a diamond. The reason for this analogy is to highlight the endless amount of homes available that just needs a little bit of TLC to become a gem. Below is a few pictures that highlight how a few changes creates beauty.

Window sidings, red door color and landscaping now we have a beauty.

New paint job, removal of the car and landscaping now we have a beauty to sell.

New paint job and awesome photoshop work, now this is a house to look at.


New paint and nicer furniture but the difference can be seen.

Wednesday, March 2, 2016

Tax benefits for owning a Home


         Owning a home comes with some nice benefits. When your doing your taxes keep on eye out on the easter eggs listed below. Though these benefits are great, make sure you do your research for the details and specifications at www.irs.gov.

Capital Gains Exclusion
If you decide to sell your home, the profit you make could be all yours and tax free. 
$500k Married; $250k Single
Ex. You bought your home w/ your spouse for $500k, sold the home for $800k making $300k in profit. Well with the Capital Gain exclusion the $300k is all yours without good ole Uncle Sam having to take his piece as well. 

Mortgage Interest
Taxes on your mortgage is deductible as well for the following year

Home Office Deduction
If your using a space in your home for business purposes, it could qualify for a tax credit as well.