Charlotte,NC?
I want to start investing in Charlotte,NC(flipping), but I have read a lot of posts about NC and how they have strict rules and are cracking down on this type of investing. Can some of you tell me the things to look out for in NC? Do any of you have good success in NC?, specifically Charlotte?thanks in advance.
dlitedan,
Yes, I can tell you what to look out for in NC, the Attorney Generals office.
There may be sweeping changes in NC regarding creative investing as we know it with the pending legislation before the state legislators. If this legilation passes it will take effect October 1st of this year.
Read about it at http://www.ncleg.net/gascripts/BillLookUp/BillLookUp.pl?Session=2005&BillID=HB725
under Text read Edition2.
John Cash$ Locke
[addsig]
john, thanks for the info, that is helpful. But let me ask you this. If I just plan on buying HUD repos that may or may not need fixing and then turning around and selling them for Fair Market Value, do you think I would have trouble with the Attorney General? I dont plan on assigning the deal, just buying, low fixing up, and reselling.
I did not know that.
Thanks!
Carol