Need help finding more deals or creating them creatively

Charlotte, North Carolina
Buying & Selling Real Estate
8moFollow

Need help finding more deals or creating them creatively

Ben Gradert
Member since 2021 · 47 posts · 23 votes

Hey everyone,

I'm an investor and GC in the Charlotte area. The market here for good deals is extremely competitive—anything that pencils out seems to disappear within a day. What strategies are you all using to find and source better opportunities?

I have the capacity to do ground-up development and have been considering multi-family projects, but land is really tough to come by right now.

A few specific ideas I've been thinking about:

  1. 1. Has anyone here had experience re-zoning single-family residential (SFR) properties to allow duplexes (or triplexes)? Is the process worth the time and effort in Charlotte's current market? (Especially with the recent UDO changes allowing more by-right duplexes in many areas.)
  2. 2. Auctions—what's your experience been like in that space? Are they a viable and sustainable way to source deals long-term?
  3. 3. Tracking down half-finished projects where the original owner/developer ran into GC issues, financing problems, or other roadblocks.

I'd love to hear everyone's thoughts on these three approaches (or any other creative ways you're finding deals in this hot market).

For context, I have cash on hand and the ability to execute most projects quickly.

Thanks in advance! Ben

0Reply
154 views

Most Popular Reply

Bar Ben Abu
Member since 2025 · 12 posts · 7 votes
7mo

Hey Ben,

The UDO changes have helped, but duplex-by-right still depends heavily on lot specs and timing. Auctions and stalled projects can work, but consistency is hit or miss. Most of the better opportunities I’m seeing are coming from off-market situations where speed and certainty matter.

Happy to connect and compare notes, and I can also help surface deals in the area if that’s useful.

1Reply
See this reply in the discussion

11 Replies

Jump to latestLatest
  • Pavel Voroniuk
    Specialist · Member since 2026 · 53 posts · 25 votes
    8mo

    This resonates — it feels like anything that pencils cleanly in markets like Charlotte gets bid away almost immediately.

    From the way I’ve been thinking about it, the common thread across all three of the ideas you mentioned is how much execution and timing risk they introduce versus how much margin they actually create. Re-zoning and by-right density can be powerful, but only if the carrying costs and timeline risk are clearly compensated in the numbers. Same with auctions — they can work, but only if there’s real room for error once you factor in unknowns.

    The half-finished project angle is interesting to me because it can create forced motivation, but I’d still want to underwrite those very conservatively given how quickly costs and delays can compound. In a market this competitive, it feels like creativity helps most when it’s paired with discipline on entry price and downside, not just complexity for its own sake.

    0Reply
  • Bar Ben Abu
    Member since 2025 · 12 posts · 7 votes
    7mo

    Hey Ben,

    The UDO changes have helped, but duplex-by-right still depends heavily on lot specs and timing. Auctions and stalled projects can work, but consistency is hit or miss. Most of the better opportunities I’m seeing are coming from off-market situations where speed and certainty matter.

    Happy to connect and compare notes, and I can also help surface deals in the area if that’s useful.

    1Reply
  • Bo SmithPro Member
    Hinton, WV · Member since 2026 · 1k+ posts · 373 votes
    7mo

    Charlotte's brutal right now, feel you on that. One angle that's worked for me: instead of chasing the same MLS scraps as everyone else, I focus on distressed owner situations, divorces, probates, job relocations. These folks aren't always thinking "maximum profit," they just want out fast. The key is consistent follow-up since their timeline might be 3-6 months out, not this week. What's your current lead generation mix looking like?

    0Reply
    • Ben Gradert
      OP
      Member since 2021 · 47 posts · 23 votes
      7mo
      Quote from @Bo Smith:

      Charlotte's brutal right now, feel you on that. One angle that's worked for me: instead of chasing the same MLS scraps as everyone else, I focus on distressed owner situations, divorces, probates, job relocations. These folks aren't always thinking "maximum profit," they just want out fast. The key is consistent follow-up since their timeline might be 3-6 months out, not this week. What's your current lead generation mix looking like?


       Hey Bo, I have a mix of wholesalers I am working but a lot of the deals haven't felt like instant yes these are great buys. 

      0Reply
  • Curtis WatersBusiness Member
    Rental Property Investor · Charlotte, NC · Member since 2013 · 292 posts · 176 votes
    7mo

    A focus in Mecklenburg county will be frustrating.  Recommend you look at adjoining counties for better deals.

    0Reply
  • William Crittenden
    Charlotte, NC · Member since 2026 · 6 posts · 8 votes
    7mo

    Hey Ben, 

    You're not wrong. In Charlotte right now, anything clean and underwritten well is gone almost immediately.

    I've been in the Charlotte market for a short time, but what I've seen work for a lot of active buyers is:

    - Direct-to-owner outreach on small infill lots

    - Networking with private lenders for stalled deals

    - Watching new townhome clusters where smaller builders get squeezed

    Curious, are you targeting specific submarkets, or staying flexible across Mecklenburg and the surrounding counties?

    Always good connecting with investors in the area.

    0Reply
  • Bo SmithPro Member
    Hinton, WV · Member since 2026 · 1k+ posts · 373 votes
    7mo

    Ben, you're asking the right questions. Charlotte's market has gotten competitive, but it hasn't closed off at all. The issue is that everyone's looking at the same MLS deals. You've got to think differently.

    On the rezoning angle: absolutely worth exploring, especially with the new UDO. I've seen this work. The best opportunities are SFR properties in areas where duplexes are now allowed-by-right. Zoning + project = instant value creation. But timeline is 6-12 months minimum, so it's not quick cash. If you've got cash and patience, it works.

    On auctions and stalled projects -- this is where the real deals hide. Auctions are hit or miss, but when you find a property with motivated seller timing (foreclosure, settlement, etc), you can move fast. Stalled projects? Even better. A developer ran out of cash or hit permitting issues -- but the structure's there, the land's paid for. If you can finish it, you've got instant equity.

    The unsexy truth: most of your best deals will come from networking and off-market sourcing. Build relationships with wholesalers, bird dogs, contractors who know about deals before they hit the market. That's where real scaling happens. You've got GC experience and cash -- that's what sellers want to hear about. How much time have you spent networking versus looking online?

    0Reply
  • Bo SmithPro Member
    Hinton, WV · Member since 2026 · 1k+ posts · 373 votes
    7mo

    Ben, you already have the hardest part -- you're a GC with cash, which means you can actually execute fast deals that other people can't touch. Your three options are solid, but I'd weight them differently than you're thinking.

    On the zoning angle: the UDO changes help, but permit timelines in Charlotte are actually your constraint, not the zoning. Even if you find a property that can go duplex by-right, you're still looking at 3-4 months for permitting and approvals if the city isn't backed up. That's fine if you're buying for hold, but it kills the flip play. Auctions are too hit-or-miss for consistent volume -- you're right that they work short-term, but you'll burn capital on bad bids. Stalled projects though -- that's your lane. Developers who run out of cash or labor are everywhere. Offer to come in as a lender or equity partner, finish it, and sell off the individual units or rent them. Your GC background makes you credible to them and banks in a way most investors aren't.

    Are you more interested in ground-up development or buying existing stalled projects to complete and exit?

    0Reply
  • Bo SmithPro Member
    Hinton, WV · Member since 2026 · 1k+ posts · 373 votes
    7mo

    The rezonings in Charlotte's market are absolutely worth exploring, especially with the UDO changes. I've had solid success unlocking value on SF properties by adding density when the zoning allows it. Duplex conversions or minor subdivisions have been goldmines in competitive markets. The timeline can be longer than flipping a single family, but the value creation is real.

    On the stalled project angle -- this one requires serious diligence but pays off. You'll find deals where original developers or smaller operators got over-leveraged on construction debt, materials cost creep, or GC failures. If you have the capital and execution chops, these are where you create outsized returns. Just make sure you do a deep dive on what actually went wrong before you jump in.

    Since you've got GC experience, have you looked at the wholesale market for stalled projects specifically, or are you hunting for these off-market directly with sellers?

    0Reply
  • Bo SmithPro Member
    Hinton, WV · Member since 2026 · 1k+ posts · 373 votes
    7mo

    Charlotte is brutal right now, but you've got leverage other people don't -- you're a GC. That changes everything. Most investors are competing on price in auctions and MLS. You're competing on execution and problem-solving, which is way better.

    On the zoning angle: duplex-by-right is great when it works, but lot size, setbacks, and HOA restrictions can kill it fast. Better play is finding SFR properties with deed restrictions that limit development, then working with the city to get those lifted or modified. It's slower than auctions, but way less competitive. Your GC background makes you the perfect person to pull this off because you can actually evaluate what can be done with a property.

    Stalled projects are your goldmine though. Owners who ran out of money, hit GC problems, or got stuck in financing hell are desperate. They're not selling on MLS, they're calling people who can close fast and fix things. You fit that profile perfectly. Talk to contractors, lenders, and title companies in Charlotte -- they know every stalled project and can introduce you to distressed owners. Cold call contractors who have abandoned jobsites. Most of those deals never hit the market.

    Have you been actively sourcing off-market stuff through contractors and lenders, or are you still primarily looking at MLS and auctions? And when you find a stalled project, what's your timeline look like for finishing it and selling or renting?

    0Reply
  • Freddy AlbanBusiness Member
    Real Estate Broker · Charlotte, NC · Member since 2020 · 74 posts · 33 votes
    7mo

    Charlotte is just extremely tight right now. Most of the prime infill lots have already been built on, so anything that makes sense gets picked up fast. The best land deals I'm seeing are coming through relationships. Wholesalers who focus on land/teardowns and realtors who know how to spot subdividable lots. A lot of those never hit MLS.

    With the UDO changes, duplex plays can work, but they’re very pocket-specific and you really have to know the zoning details. Auctions can work occasionally, but they’re not a consistent pipeline.

    Happy to connect I come across off-market deals from time to time and outsource opportunities to my investor clients when it’s a good fit.

    Freddy Alban - Realtor516 Reviews
    WebsiteView Page
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free