Hey there, Cam Dunlap here!
Got into an interesting discussion recently in Q&A session that really 🔥 fired me up.
One of my students was asking about South Carolina’s new anti-wholesaling law — you know, the one that makes it nearly impossible to do assignments or market properties you don’t own yet.
Most investors I talk to are wringing their hands about it.
Me?
I’m seeing opportunity where everyone else sees obstacles.
When Everyone Zigs, I Zag
Here’s what I told my student that seemed to surprise them:
I actually see South Carolina’s restrictive law as good.
Not bad. Good.
I know that sounds crazy, but hear me out…
The harder something is to do, the fewer people who do it, because when the going gets tough, it’s not like it used to be. Most folks lay back on the couch.
So I like markets that present challenges because it eliminates competition massively.
While everyone else is complaining about how unfair the new regulations are, I’m figuring out workarounds and having the field mostly to myself.
The Couch Potato Effect
Think about what happens when any market gets difficult…
Whether it’s new regulations, market downturns or increased competition — most people do the same thing.
They quit.
- They go back to what’s comfortable.
- They find reasons why it won’t work anymore.
- They convince themselves that the golden days are over and there’s no point in trying.
This isn’t new human behavior.
But here’s what’s interesting — it’s gotten worse over the years.
When the going gets tough nowadays, the tough don’t get going.
They get going to the couch.
I’ve been in this business since 1993, and I can tell you that every single time the market has thrown me a curveball, the same thing happens.
The herd thins out dramatically.
South Carolina: A Case Study in Opportunity
Let me break down what happened in South Carolina for those who haven’t heard.
It passed a law that basically says you can’t do assignments — with or without a real estate license.
The law is so poorly written it actually contradicts itself.
It also says you can’t market a property you don’t hold title to.
So the traditional wholesale model where you put a property under contract and then market it to your buyers list?
That’s out.
Most wholesalers threw up their hands and said, “Well, I guess we can’t wholesale in South Carolina anymore.”
And you know what? That’s exactly the response I was hoping for.
The Installment Sale Workaround
See, while everyone else was complaining, I was strategizing.
There’s always a way if you’re willing to think differently.
In South Carolina’s case, the workaround is an installment sale.
We buy the property in as-is condition just like any other wholesale deal. But instead of using an assignment or a simultaneous close, we actually take title with seller financing.
- The seller becomes your private lender for 3 months, 6 months or earlier if you can swing it.
- You hold title, which means you have every right to market the property.
- Then you wholesale it to your cash buyer just like you normally would.
The seller gets their money, you get your wholesale fee, and you’ve completely sidestepped the regulation that’s stopping everyone else.
All perfectly legal and above board.
Why Challenges Are Gifts in Disguise
Here’s my contrarian mindset in a nutshell:
I actively seek out difficult markets and challenging situations. Not because I’m a masochist, but because I understand something most people don’t.
Difficulty is a filter. It screens out the uncommitted, the lazy and the easily discouraged.
What’s left?
A small group of serious players who are willing to do what it takes.
Would you rather compete against 100 wholesalers for every deal, or against 5?
Would you rather fight for scraps in an “easy” market, or feast in a “difficult” one?
The Current Market: A Perfect Example
Right now we’re seeing this play out in real time across the country.
There are more notices of default being filed than yesterday and more yesterday than the day before and on and on and on.
I read an article about Cape Coral, Florida this morning. Prices are falling pretty rapidly there. Investors are hightailing it out of there trying to be the first one to the door.
You know what I see?
I see a lot more opportunity happening out there right now.
And here’s the beautiful part — there’s a relatively small amount of competition in the market at the moment too.
It’s this interesting sort of alignment of swelling opportunity coming after a period of falling competition.
Most people see danger 🚨 I see dollar signs. 💵
Building Your Contrarian Muscle
Developing this mindset isn’t natural for most people. We’re wired to seek comfort and avoid difficulty.
But in business, that wiring will keep you broke.
Start small. Next time you hear about a new challenge in your market — a new regulation, a market shift, increased competition — catch your initial reaction.
Is it negative? Probably.
Now flip it.
Ask yourself: “How is this actually good for me? How will this thin out my competition? What opportunity is hidden in this obstacle?”
This isn’t toxic positivity or wishful thinking. It’s strategic thinking.
Every challenge creates winners and losers. The difference is how you respond to it.
Multiple Markets, Multiple Opportunities
One more thing I want to mention.
This contrarian approach is exactly why I’m a big believer in working multiple markets.
All the more reason to be wholesaling in multiple markets.
That diversity is actually a good thing. When one market gets “difficult” and everyone abandons ship, you can increase your focus there while maintaining your other markets.
You become like a surfer who actually seeks out the bigger waves while everyone else heads for calmer waters.
Sure, the big waves are more challenging. But they’re also where the real ride is!
Your Next Move
So here’s my challenge to you…
Stop running from difficult markets and challenging situations. Start running toward them.
When you hear other investors complaining about new regulations, market conditions or increased competition, that should be music to your ears.
It means the herd is about to thin out.
It means opportunity is about to present itself to those brave enough to stick around.
Remember, in real estate like in life, the easy path is usually the crowded path. And the crowded path rarely leads to extraordinary results.
If you’re ready to learn how to turn market challenges into profitable opportunities, check out my One Day Flip training where I show you exactly how to wholesale in any market condition — especially the tough ones.
Keep swimming against the current.