Intern in Charlotte looking to wholesale a property on the side

Charlotte, North Carolina
Wholesaling
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Intern in Charlotte looking to wholesale a property on the side

Cache Martin Douma
Member since 2023 · 1 post · 0 votes

Like the title says I will be interning in Charlotte, NC this summer and will be looking to wholesale some properties on the side while there. I am looking for any guidance from anyone whether you are in the area or not to help me accomplish this. I would love for some information on the market/ if wholesaling is viable to do over the summer. My goal is to get at least one house done over the summer. Thanks all!

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John Zajac
Investor · Amarillo, TX · Member since 2022 · 37 posts · 21 votes
3y

You'll be able to accomplish wholesaling a property over the summer. But I'm going to be honest it can be tough but just like anything, you get out what you put in. You might get lucky and get a property under contract at the right price and wholesale it on the first try but for majority of people it can take sometime. I believe the education of learning everything about real estate including wholesaling is more important than a quick buck. According to Agreedment.com there are about 1,759 active cash buyers in Charlotte, North Carolina so there isn't a lack of real estate cash buyers. Hope this helps. @Cache Martin Douma

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  • John Zajac
    Investor · Amarillo, TX · Member since 2022 · 37 posts · 21 votes
    3y

    You'll be able to accomplish wholesaling a property over the summer. But I'm going to be honest it can be tough but just like anything, you get out what you put in. You might get lucky and get a property under contract at the right price and wholesale it on the first try but for majority of people it can take sometime. I believe the education of learning everything about real estate including wholesaling is more important than a quick buck. According to Agreedment.com there are about 1,759 active cash buyers in Charlotte, North Carolina so there isn't a lack of real estate cash buyers. Hope this helps. @Cache Martin Douma

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  • Kathie Russell
    Professional · Raleigh, NC · Member since 2016 · 126 posts · 123 votes
    3y
    Wholesaling is very viable over the summer!  My son started wholesaling last winter, he works as snowboard instructor in Aspen CO and he did it on his days off and evenings.  He is 25.  He made enough so that when his winter job ended, he is able to spend the summer touring south and central America without having to work.  He has friends to stay with in most of the places, but still....pretty nice.  My hope for him is that he will do enough wholesaling on the side, slowly be able to buy and hold a property every year or two so that he can build up his portfolio and never have to work again.  However, wholesaling is not easy and the bad wholesalers out there create problems for the industry.  As a wholesaler you have to know how to estimate repairs accurately and how to figure ARV - if you don't, you don't know how much to offer and how much to charge your end buyer.  For my son, i bought him a mentorship and a class.  Not saying that is 100% necessary but you do have to get education and/or mentorship somehow.  A really great place to start would be to join your local REIA.  You will find education, mentors, friends, lenders, jv partners and a community that will always support you!  Best of luck to you.
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  • Alex Hroma
    Member since 2023 · 17 posts · 3 votes
    3y

    Hey there, I work with wholesalers but don’t wholesale myself. However, I like to educate myself on the process, I think Jerry Norton is a great resource (YouTube) plus he usually has a bunch of free tools/resources. Hope this helps and feel free to reach out if you’d like to connect. Good luck! 

    Alex Hroma

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  • Angie CastroBusiness Member
    Real Estate Broker · Charlotte, NC · Member since 2022 · 133 posts · 128 votes
    3y

    Hey, wholesaling in Charlotte can be pretty competitive. If you are starting I would suggest a submarket nearby. I've seen people have more success when they start in a town with less competition. Maybe closer to triad.

    [email protected]704-318-5494
    Angie Castro with Monarch Group4.848 Reviews
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  • Gil Nahmias
    Member since 2023 · 6 posts · 5 votes
    3y

    @Cache Martin Douma, if you have any deals you want to offload, please hit me up - I'm a buyer looking for deals.

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  • David Ramirez
    Investor · Tampa, FL · Member since 2019 · 1k+ posts · 1k+ votes
    3y

    Wholesaling is not an easy business to get into. It's just like any other sales and marketing business: you have to put a lot of time and effort into developing your sales and communication skills. Understanding the sales process and building systems to grow the business takes more than six months of consistent work. I believe that if you work hard and stay proactive, you could probably get one lucky deal after a few months of consistent contact with sellers. However, if you want consistent results, you have to be patient, create systems, and spend money on marketing. Just like any business, the amount of effort you put into it is what you get out of it.

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