Learning the ropes
Hello everyone,
I am thrilled to announce that I will be starting my journey in real estate by attending real estate school on May 20th, 2024. My focus is on wholesaling properties in Greensboro, NC, and I am eager to learn from experienced professionals in the field.
If you are a seasoned real estate wholesaler or investor in the Greensboro area, I would love to connect over a cup of coffee. I am eager to absorb knowledge, gain insights, and build valuable relationships in the industry.
Hi Luis,
Nice to meet you! I’m an investor and agent in the Triad. Curious why you are getting your license just to do wholesaling? If you don’t plan on working as a traditional agent helping people buy/sell properties it may be best to save your time/money and just dive deep into wholesaling.
I know I don’t need a license to wholesale but I want one in case I decide to switch it up and it would be a great with to connect with others.
@Luis Salas - careful with this strategy. In NC, when you speak to a potential seller, you are legally required to share with them that you're an agent even if you're there to buy their property or wholesale it off-market. If you don't and the seller feels "ripped off" after you assign it and make a profit, they will come after your license and have a good shot at it.
This also makes it more challenging to be fair, honest and ethical with a seller. Your responsibility is to act in their best interest and provide them the most accurate information possible about their home. "low balling" doesn't necessary meet those standards.
The way that realtor's generally have to work is provide the seller the true and accurate comps (market value) as well as expressing to them that you could also buy it at a discount but buy it fast, no repairs, etc (all the other stuff wholesalers say/provide). You just walk a very fine line when you're a licensed agent that wholesalers and a lot of brokerages will not look fondly at this type of activity.
Message me privately to chat more on potential workarounds and how to operate in the space doing/being "both".