Wholesaling MLS Properties in NC (Strategies)

[Cedric Stout]

I have a growing wholesaling business here in NJ, and I am looking to begin building my virtual wholesaling business several NC markets. I'm looking into the Fayetteville, Raleigh-Durham, and Charlotte markets. I grew up in NC and will like to become active in wholesaling & co-wholesaling. A part of my acquisitions strategies will be to find deals on the MLS to wholesale.

To my fellow Wholesalers and Investor Friendly Real Estate Agents in NC, what are some effective strategies in wholesaling listed MLS properties. In NJ, I have found that I could assign the properties using the my "business entity and/or LLC to be formed" and assign the contract that way. We use the standard NJ realtor's form and add a 14-day inspection contingency.

Any insight would be appreciated. And yes, there are still deals to be found on the MLS :)

[Cindy Veit]

I am an active "flipper" in Fayetteville, NC. Here is a property I did last year.

https://www.dropbox.com/sh/wa3io8wpadghjpj/AAAN1Vy...

Purchase Price: $45,000 Repairs: $35,000 Sale Price: $115,000 Profit: $23,500

Days of Ownership: 85

These are pretty typical of my "numbers" in Fayetteville. In a military town, most of the buyers are VA. They do not have money to put down on a property and they do not have money to do repairs. They are typically looking for 3-4% in concessions. Therefore, in order to be successful flipping, you have to make the house the best in the neighborhood and price it competitively, if you want it to sell. Hopefully, you will have some deals you need to wholesale!