All Forum Posts by: Kai Kopsch

@Chris Reichenbach congrats on the 2/1 property in Kannapolis. If you do not have a relationship with Amex establish one with a savings account and personal credit card. Amex loves to work with Real estate Investors and Realtors; with only one hard pull, you can get up to 5 Credit cards sometimes with 0 APR for 12 months. Important is to season the relationship and open a business card after your personal card. They have a business line of credit with no documentation to get started and high limits. Rack up all those points! one vacation per rehab on AMEX if done right.

@Wendell Butler About 87% of residential land in Charlotte-Concord-Gastonia metropolitan area is zoned for single-family houses. This will change in the next 20 years. The MSA area is not the place to invest in MF at this moment. 

Wholesaling is one exit strategy and not a great business model to get started. 90% of all courses about wholesaling are based on ideas that worked in 2010 but not anymore in 2023. There are hundreds of ways to get into Real Estate wholesaling is the toughest one! Getting a RE license and starting working for a prominent wholesaler, broker, or builder is much easier, and you get paid if you work as an assistant or closing coordinator.

@Andrew Northcutt welcome to BP forums. Charlotte is a great area to invest in. I'm an investor & real estate broker in the area, if you want to grab a coffee to talk or Zoom with me about the CLT market, I'm here for you.

The FHA loan is a government-backed mortgage loan that can allow you to buy a home with looser financial requirements to get lower income into housing. It's not meant to start a business, so adding a business partner is against the rules. Yes, you can add someone out of state to the title, but this is more family and friends.

@Derrick Blackwell their hundreds of different ways to get started. getting licensed is a good way to get a basic understanding of the RE world and it's much easier to find an assistant job.  Attending a pre-licensing class in person gives you also the opportunity to start networking with a much deeper bond than just going to an RE meetup once in a while. Wish you lots of success.

@Isaac Bartels Charlotte is a great area to do RE Investing; Zillow predicts that Charlotte will be the hottest real estate market of 2023. Since January 1, I have seen a lot more buyer activity. Most important is doing your homework about CLT areas and learning about the local market updates in the Charlotte metropolitan area. Send me a PM if you like to get market updates.  

@Ody Orad, their many credit score models out, and everyone reports differently. There is a possibility that nothing happened to your score where its matters; the Critical Score Is the Lower Middle Score from FICO®. You find this score on myFICO.com their fees, but this way, you know for sure before you even apply for a mortgage. Like everyone says, the best praxis is not to apply for anything before buying a home and paying off all CC before the CC closing date.

@David Ackley congratulations on your license, and you're the first post on BP. Company Names and split, software don't really matter when you start your Realtor journey. What matters is the people working there and helping you and a free mentorship! Interview the Agent working there not only the BIC and find an experienced agent you can shadow and advise you on how to make your first few deals. The same with the split better ten deals at 60/40 than one at 75/25.

Good luck 

As a RE license, your deals have to be brokered by you're BIC until you reach BIC Eligible. Ask him or her how to structure this in your state if possible.