Who is Emerald Holdings and why are they offering to buy houses? (Charlotte: low income)
Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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A number of my neighbors are receiving letters from Emerald Holdings, LLC offering ridiculously low prices (based on assessed value, not current market value) to buy their houses.
Who is this company and why are they targeting SW Durham?
From what I can see, they buy up properties and presumably rent them out. In Durham, we have a Comprehensive Plan that is likely to take effect this summer that will eliminate all single-family zoning and allow builders to put up multiplexes of up to four units. Everyone is assuming that this is the goal and why this company is trying to make inroads. The thing that seems fishy is why they are offering lowball prices in a still-warm market.
These do not appear to be experienced investors. They have a virtual address out of Charlotte and a UPS Store address in Raleigh. Their backgrounds in realty seem pretty sketchy as well.
My name is Ayden and I am responding on behalf of Emerald. I understand this is an old response but I just wanted to address some of the negativity directed towards our organization and offer some explanation.
We are a real estate investment company that primarily buys and fixes homes to either resell or rent. We invest in Raleigh/ Durham, Charlotte, and Wilmington. I personally have only been full time in real estate since 2017 however our team collectively has almost 40 years of experience in real estate. We have a post office box in Raleigh, NC where we can receive mail. Members of our team live in Raleigh and it is convenient to receive mail there. We have an office location at 525 N. Tryon St. Suite 1600 Charlotte, NC 28202 where some of our team members are based.
I'm assuming none of you have ever actually interacted or done any business with our company and instead probably received some type of mail from us. Unfortunately in the world we live in today you have to be marketing as a company otherwise you can't compete with competitors. I receive texts, cold calls, and mail every single day and I simply ignore them if it doesn't pertain to me or if I'm not interested. I do not go and negatively review their business or talk badly about them online if I can't say for certain who they are or how they do business. We're a small business and we are real people. Unjustified negative reviews and conversations in online chat rooms really do have negative consequences. We have done hundreds of transactions over the years and we have many satisfied people that we've done business with. We have many positive google reviews to show it.
SFspiderman, I'm not exactly sure what you mean by "Realty" and what in our background it is that are referring to as "sketchy" but I would like to know more so I can offer some insights or at least understand what accusations you are making are. If you can give us a call at 919-351-2127 I would be happy to discuss the matter further either over the phone or meeting in person. You are more than welcome to set up a meeting to come by our office in Charlotte. If you are located in the Raleigh/ Durham area I am there often and would be happy to meet with you to show you that I am a real person.
I hope that I have been able to address your concerns. I know not everyone has the time to write these types of reviews. With that being said, I hope that if there is something negative in your life things turn around for you and you can be happy. If you have any further questions or have a property you are looking to sell please feel free to give us a call at 919-351-2127. I hope you have great day!
I tell them I'm taking a $50,000 non refundable deposit to open discussions, and I get to keep the deposit if your offer doesn't interest me. That seems to cut down alot of nuisance solicitations
I tell them I'm taking a $50,000 non refundable deposit to open discussions, and I get to keep the deposit if your offer doesn't interest me. That seems to cut down alot of nuisance solicitations
I received a letter of intent, and the price quoted to buy my property is obscene! They quoted at least $150,000 less than what I would ever accept, and that would only be if I was desperate and in need of quick liquidation. They claim to have done their due diligence on the property? How??? They have not set foot in my house. It’s WAY below tax value even. As Ayden said above, he just ignores something he doesn’t like rather than write something negative. I’m generally that way, but in this instance, seller beware- but I bet you will be when seeing the quote they give you. They quoted me a price that is more than $20,000 less than the price I originally paid for it, 20 years ago! In today’s high demand, high price market, that makes it even more of an insult. Also, as Ayden said above, “you” (meaning me in this case), have never interacted or done business with them. You are right- I haven’t. My one letter from you shows me how you do business. So, I wouldn’t even attempt do business with you with the way you are trying to cheat/scam/steal. I know you are in this to do business and make money, but that’s just way too much!
I have received over 50 letters from companies such as this offering to buy land that I once owned in JoCo. The offers are always 60-70% less than the current market value. So don't think that this company is the only one in this business.
Having said that, the businesses are usually run by unsophisticated individuals who probably have no significant business background or experience in real estate. They are probably coached by other grifters to offer landowners very low prices. They send out tons of offer letters, usually in distressed or low income areas, in hopes of catching that one person that is either too dumb to realize they are being taken advantage of or that person who is too desperate for money to care.
The best thing to do is not do business with these types. Very, very rarely do these deals work out in the favor of the seller.
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Addressing Negativity
