The Titanium Vault hosted by RJ Bates III

I Tried Wholesaling In New Hampshire And This Happened!

• RJ Bates III • Episode 607

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If you’re new to my channel my name is RJ Bates III. Myself and my partner Cassi DeHaas are the founders of Titanium Investments.

We are nationwide virtual wholesalers and on this channel we share EVERYTHING that we do inside our business. So if you’re looking to close more deals - at higher assignments - anywhere in the country… You’re in the right place.

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Speaker 1:

welcome back to wholesaling around the world. The new hampshire edition man, oh man. New hampshire is the state that I have to say has just been one of the most unique experiences in regards to wholesaling that I've ever had. Right, I think it ranks up there with South Dakota, maybe Wyoming on some of the weirdness that we've had. But, funny enough, whenever we decided that we were going to be completely nationwide all 50 states I had this great idea that I was going to have an individual logo made for each state, and so, as I was doing my research on what could the New Hampshire logo be, I found out that they're super proud of this I guess natural granite rock formation called the Old man of the Mountain, and I was like, wow, that's cool, that's pure New Hampshire, right? So I made our logo basically the Old man of the Mountain, and then I found out after two years of using that as our logo in New Hampshire, that the old man of the mountain his face fell off in 2003. So that kind of is how our experience has been in New Hampshire Just kind of like a series of weirdness and kind of awkwardness.

Speaker 1:

Our first ever deal that we did in New Hampshire, we got under contract, direct to seller. Seller is highly motivated, need to sell and we start searching for end buyers. Now this was in Berlin, new Hampshire, so it was up in the Northern part of the state. Not a ton of activity up there, not a lot of buyers, and essentially what we did through all of our pulling of lists, cold calling, mass texting. This was back in the day, right when that was what you had to do. This is pre-investor lift, investor-based days, when you actually had to work to be a wholesaler, and we finally found an end buyer that was willing to go out. But they just could not wrap their head around what wholesaling was. They're like so you're a realtor and we're like no, no, no, no, we have the property under contract and we're assigning our equitable interest, and they just could not come to grips. They thought that that is illegal, right, you can't do that. And as much as we tried to explain and build on our credibility in the past success that we've had, it had never been in New Hampshire before, and so they just couldn't come to grips. But they went out and they looked at the property and they're like we want to buy it, but the only way that we will buy this deal is, if we go under contract, direct to seller, we're like but we're under contract with the seller, we can just assign the deal to you. And now we've assigned our rights to you, and now you're under contract to purchase the property, but you're going to pay us a fee and our assignment fee? No, we need to have the contract where the seller signs with our company and then, once we close, we'll pay.

Speaker 1:

Now, unfortunately, as much as we tried to explain how this was supposed to work, they would not budge. And so we were in a position where it was like listen, we either do what they want to do or we're going to have to terminate the deal. So, sure enough, I said whatever, let's terminate, have them go direct to seller. And so, when it came time to explaining how it would work with our fee, they said listen, we will send you a check, a check, old school, all right, old school, we're not going to send you a wire, we're not going to put you on the settlement statement, we're not going to do anything. We'll send you what we think it was worth to us for you to bring us this deal. So again, I'm just like listen, I want $5,000. And they're like listen, we will send you what we think what you did was worth to us. Sure enough, our first ever deal in New Hampshire. A couple of weeks after it closed we got a check in the mail for $600.

Speaker 1:

And that has pretty much been my experience wholesaling in New Hampshire. Now, statistically, new Hampshire is the 42nd most populated state. It's down there. For me it's pretty close. I mean, I'm not going to put a specific number on there, but it's ranging somewhere between the 45th and 50th best state to wholesale in my opinion. Now I know there's some of you that are going to watch this and maybe you're up in New England, maybe you're in a part of Massachusetts and you're going to say, hey, we're wholesaling deals in the southern part of New Hampshire, and I can absolutely see how that's the case.

Speaker 1:

Since that deal, we have done deals in the southern part of New Hampshire, and I can absolutely see how that's the case. Since that deal, we have done deals in the southern part of New Hampshire. Right, we've done deals in Concord. We've done deals in what is that? Newport. We've done deals down by Manchester, mary Mac Rochester. Yep, we've done deals in these different locations, but each one of our deals in New Hampshire took an extended period of time to locate buyers, to explain what Wholesale was. It just doesn't feel like there's a lot of volume there and, to be quite honest with you, just based off the numbers, with it being the 42nd most populated state, that makes complete sense.

Speaker 1:

So each one of these episodes, as we go by state by state, what I'm trying to accomplish is just to let you guys know if you want to do nationwide virtual wholesaling, what states should you go to and which ones should you avoid. Should you go to and which one should you avoid? I'm going to say you should avoid New Hampshire unless you're located in New Hampshire. You're located near New Hampshire, like Massachusetts, maine, vermont, somewhere right there, or you have a connection to New Hampshire. Maybe that would make things better for you and I'm sure someone in the comments will let us know that that's the case. But if you're based out of Texas and you don't have any connections to New Hampshire and you're wondering where you should go virtually, this is absolutely not one of the places that you should be hopping to.

Speaker 1:

The other facts of the matter is, due to the low population in New Hampshire, you're also going to have a much lower volume of leads that are available to you. So, across the board, it just makes it a really difficult location to gain traction in and just with all the leads that we've been getting from lead, zolo, speed to lead and property leads over the past four to five years being completely nationwide, it is few and far between where we're going to receive a highly motivated seller lead inside the state of New Hampshire, so not to just foo-foo the state away. We still get leads there, we still call them, but I am never counting on us closing a deal inside of New Hampshire. I would say, based off of what I can see right here, what we've accomplished since 2020, it looks like we're averaging about one deal a year inside the state of New Hampshire. So overall I feel like it's one of the worst locations out there.

Speaker 1:

But for those of you that might be doing deals inside of the Granite State, next to the old man of the mountain or where he used to exist, let me know, was I wrong? Am I missing a honey hole? Listen, I did an episode on Maine and I talked about how much I love Maine New Hampshire not quite there. Let me know in the comments. Show me some love A little bit more than my initial buyer with that $600 paper check. Like today's video and we'll see you guys tomorrow.