Wholesaling in Charlotte NC

5 Replies

I just recently quit my 9-5 job and moved from the Norther Virginia area to start my journey in Real Estate.

I am new to the industry, heard about Wholesaling and the competition out here in Charlotte has made it tough to come across a deal. I feel as if everyone here has a system in place and is doing laps around me at 100 mph while I put the pieces to the car together. I bought an annual plan with Remine that gives me access to property information across the US so I am able to extract certain absentee and distressed property lists with home owner or corporate name with the first name, last name but no contact info so I have to skiptrace most and cold call but no luck yet. I have also put out bandit signs with no luck, D4D and hired a VA to skiptraced the 120 distressed homes I pulled in charlotte but they gave me 6 probable phone numbers that MIGHT be the owner per address. So far Ive only reached 1 home owner that was not interested in selling.

Any advice on what my next step should be?

Im thinking of creating an LLC to back my business/service with a website to market the services.

Also Im looking for like minded individuals that would like to network.

I’m ready to change my life, my families and achieve all things possible through financial freedom. There’s a lot of evil going on in this world and a lot good to be done by those with money and power. I have big plans to help change the world we live in along with those that live in it. It’s a means to an end and I want to get to a point where I can help those in need.

Regarding "...the competition out here in Charlotte has made it tough to come across a deal. I feel as if everyone here has a system in place and is doing laps around me at 100 mph while I put the pieces to the car together. " that is a nice summary. Your competition now consists of companies like Opendoor, who offer to buy (for example) that "distressed" divorced couple's home and close in a few weeks with cash offers. Can you compete with them? There will be more like them shortly, if they aren't there in your area already. 

I would suggest you educate yourself on what real estate is really about. Take a few courses or, better, get your NC broker's license. It's not that painful, expensive, or complicated, but it takes initiative which it seems like you have. In the long run, you will be better off. 

I echo @Chris Martin 's suggestion. I myself got my license to get myself into the industry and learn more. Getting your license is fairly inexpensive as far as career changes go, and as long as you work hard, it will be rewarded. 

Being an agent will help supplement your income for your family and will put you in a better position to help your clients, either wholesaling or selling on the market. Even if you don't use your license to be a traditional agent, it will give you a solid foundation. This industry, whether you are an agent, wholesaler or flipper requires initiative, patience and a lot of education. 

I appreciate the information @Laura Yates and @Chris Martin .  What if I told you that I may only be in the Charlotte NC area for two more years if that.  Would it be worth getting my real estate/brokerage license if theres a chance I would have to move to a different state within the time listed?  Thats the predicament I am in and thats why I am starting with wholesaling in the industry.  Thank you for your response! 

Originally posted by @Anthony Maldonado :

I appreciate the information @Laura Yates and @Chris Martin.  What if I told you that I may only be in the Charlotte NC area for two more years if that.  Would it be worth getting my real estate/brokerage license if theres a chance I would have to move to a different state within the time listed?  Thats the predicament I am in and thats why I am starting with wholesaling in the industry.  Thank you for your response! 

I am not a broker and don't know the specifics, but from North Carolina Real Estate Reciprocity and Portability:

In terms of reciprocity, North Carolina has agreements with the following states:

  • Arkansas
  • Connecticut
  • Georgia
  • Iowa
  • Louisiana
  • Mississippi
  • Nebraska
  • South Carolina
  • Tennessee
  • West Virginia