Can You Really Make Money Wholesaling in South Dakota?

Want to work directly with me to close more deals? Go Here: https://www.titaniumu.com
Want the Closer’s Formula sales process I’ve used to close 2,000+ deals (FREE) Go Here: https://www.kingclosersformula.com/close


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.

Who is Titanium Investments and What Have We Accomplished?

Over 10 years in the real estate investing business
Closed deals in all 50 states
​Owned rentals in 12 states
​Flipped houses in 11 states
​Closed on over 2,000 properties
​125 contracts in 50 days (all live on YouTube)
​Back to back Closers Olympics Champion
Trained thousands of wholesalers to close more deals

_________________________________

With over 2,000 Videos, this is the #1 channel on YouTube for all things Virtual Wholesaling. SUBSCRIBE NOW!    https://www.youtube.com/@RJBatesIII

_________________________________

RESOURCES FOR YOU:

If you want my team and I to walk you through how to build or scale your virtual wholesaling business from A to Z, click here to learn more about Titanium University: https://www.titaniumu.com

(FREE) If you want to learn how to close deals just like me, The King Closer, then download the free King Closer Formula PDF: https://www.kingclosersformula.com/close

(FREE) Join our exclusive FB group community for real estate investors and wholesalers: https://www.facebook.com/groups/titaniumvault/

(FREE) Click here to grab our Titanium fleet free PDF & training: Our battle tested strategies and tools that we actually use… and are proven to work: https://www.kingclosersformula.com/fleet

Grab the King Closer Blueprint: My Step by Step Sales Process for closing over 2,000 deals (Only $37): https://www.kingclosersformula.com/kcblueprint

Grab Titanium Profits: Our exact system we use to comp and underwrite deals in only 4 minutes. (Only $99) https://www.kingclosersformula.com/titaniumprofits

Want to know what the best markets to wholesale in are? Grab my breakdown of all 50 states here: https://www.titaniumu.com/markets

Chapters

• 0:08 Setting The South Dakota Stage
• 0:44 The 50 States Challenge Story
• 2:29 When Everyone Knows Everyone
• 3:30 Where Deals Might Exist
• 4:04 Lead Sources With Low Competition
• 5:15 The Dispo Bottleneck And Reality Check
• 6:14 Legal Notes And Final Ranking
• 8:42 Closing Thoughts And Audience Ask

Transcript

SPEAKER_00: 0:08

Welcome back to wholesaling around the world, the South Dakota edition. Let's be honest, there's not a whole lot to report in regards to virtually wholesaling in the state of South Dakota. And it's not shocking. South Dakota comes in as the 46th most populated state, with just south of a million people living in the state of 924,000 people. But the one thing that South Dakota does bring with us is a pretty good story. Back in 2020, when we started our first 50 deals and 50 states and 50 days challenge, we got a property under contract in South Dakota. That was one of the states that we were successful, right? We got them in 49 different states, Utah being the one that we didn't get a state in. So we got the property under South Dakota. Acquisitions was relatively easy, you know. It wasn't difficult, but dispositions, right? Now that's a whole different story. And this is before we had the dispo softwares, right? We didn't have investor lift and investor baits and all the things that we have nowadays that have made virtually dispoing a deal so much easier. So what we did was scrape Facebook groups, pulled cash buyer list on batch leads and prop stream, skip, trace it, cold calls, sent out mass text messages, right? We were really having to work for dispoeing properties in markets where we did not have known buyers. And of course, we didn't have a known buyer in South Dakota, so we get to work. Now, this property that we had under contract, it was a little bit of a unique property. It was a tired landlord, it was a smaller home, but it was it was discounted, but it was already fixed up. So it was basically kind of us selling a potential turnkey rental with a discount, right? It had equity, and we weren't trying to get a big wholesale fee. I believe we were only going for like five or six thousand dollars, right? We're just trying to move the deal that we got under contract inside of South Dakota. So we start doing the mass texting, and I'll never forget we get an inbound call from the texting, and the the buyer is one of the the largest buyers in Sioux Falls. He he calls us and he's like, Why are you selling why are you trying to sell me my cousin's house? And it was at that moment that I realized wholesaling in South Dakota is really hard, right? This is one of those areas where hey, everybody's gonna know everybody, and it's not like major majority of out-of-state investors are not going to be looking to purchase properties in South Dakota, it's just not gonna be one of those locations, especially considering the fact that the majority of the state, there's nothing to it, there's there's not really a lot of opportunity there. Where you're gonna have opportunities is Sioux Falls and Rapid City, right? Those would be the two major cities, but by major, you know, take that with a grain of salt. But those would be the two areas that you're probably going to have the best opportunity to wholesale in if you're wanting to explore something like South Dakota. But over the course of the next five years, I have learned that if you have a connection to South Dakota, it could be a little baby honey hole for you. And what I mean by that is there are leads that are available in South Dakota through property leads, leads or loan to lead, specifically on the marketplace for speed to lead. And getting even more granular on that, you can go all the way down to the coupon club, which is the cheapest leads available. You will see regularly, there are normally two to five available leads in South Dakota that have very few purchases on them, right? It shows you how many orders have been placed on that lead, and normally it's zero and maybe one have purchased that lead prior to you even seeing it. So if you have a connection, if you have a known buyer, say in Rapid City or Sioux Falls, there is an opportunity for you to come in because there is such little competition in South Dakota on the acquisition side. If that seller is truly motivated, there is an opportunity where you're not going to have to combat like you would in all of the other markets in the United States, right? Not I say all of the markets, but the majority of them, right? It's not going to be like you getting a lead in Texas or a Michigan or Ohio, where there's going to be multiple purchases of that lead, as well as people co-calling and direct mail and door knocking. That just doesn't really happen in South Dakota. So what I have seen is that the sellers, if they have some motivated factor, they are probably more highly motivated than the majority of states. But this positions is where the hard part is. So in order for you to capitalize on this opportunity, you really need to have that connection there and have that known buyer. Now, do I think as a virtual wholesaler, you should be targeting South Dakota or even mining for buyers in this location? Probably not. You know, now, if you already have traction in other markets and you're just wanting to expand and find a new opportunity, could you take a couple of days to try to mine for a buyer inside of Sioux Falls or Rapid City and see what their buy box is and see if they're currently wanting to purchase properties? Do I recommend that? No, I don't. This would be one of the really rare opportunities that I would say, hey, there's probably an opportunity for you to capitalize on that. If you can make that connection, understand, vet out that buyer and know what they're looking for. There could be an opportunity for you to capitalize where majority of wholesalers are just going to completely ignore not only a city, but basically the entire state, right? That it's just going to get ignored. Now, in my very little knowledge of the South Dakota market, because it's not like we've done a lot of deals, right? We've done a handful of deals there. You will have an opportunity for vacant land. Uh, vacant land on terms is available to you. So, from a real estate investing standpoint, if you wanted to take that down yourself, that opportunity exists. But wholesaling, this is one of the more difficult markets out there. I'm gonna rank this somewhere between 45th to 50th. Okay. And just really because the reason why I can't pinpoint that exact number is because there's quite a few that just kind of mingle together, right? There's not a huge difference between South Dakota and North Dakota, right? Now, regulation-wise, there are no regulations on wholesaling in South Dakota, except based off of my research, it does look like the state is pretty hard on bird dogging properties. They do not want you, they consider that brokering without your real estate license. So wholesaling is legal. You just have to make sure that you are very adamant about you are assigning your equitable interest, you're not selling the property. That's where you can get in trouble. But outside of that, there's no regulations on wholesaling inside of South Dakota. So there's still an opportunity there, but this is always going to be one of the lowest ranked states out there. And overall, I think the majority of virtual wholesalers would do themselves quite a big favor if they just avoided South Dakota, went to the other markets that are better suited, higher volume, higher volume of in buyers. And this one fits right along in the trends. Low population, low opportunity for wholesalers. So, for those of you that are currently wholesaling, if there are any of you out there that are wholesaling in South Dakota, let me know. Do I know what I'm talking about? Or are we missing something in South Dakota? Let me know in the comments. Regardless, show me some love, like today's video. We'll see you guys tomorrow.