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The Titanium Vault hosted by RJ Bates III
RJ Bates III, affectionately referred to as the Viking Wizard by his students, started his real estate investing career in 2014 after attending a real estate education program that put him $65,000 in debt. RJ contracted his first deal he found on the MLS and wholesaled it for a $7,500 assignment fee. That was the end of his former life and the beginning of his venture into becoming a real estate investor. Since that moment, RJ has become an influential figurehead in the real estate investing industry. He has successfully purchased and sold over 2,000 properties all across the USA including wholesale deals, rehabs, rentals, owner finances and short term rentals. One of his passions is being the host of The Titanium Vault Podcast where he interviews the top real estate investors. He has won back to back Closers Olympics earning him the reputation as the King Closer! Finally, RJ and Cassi DeHaas, his partner, have started their education platform called Titanium University.
The Titanium Vault hosted by RJ Bates III
Wisconsin Virtual Wholesaling SECRETS You Need to Know
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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.
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
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With over 2,000 Videos, this is the #1 channel on YouTube for all things Virtual Wholesaling. SUBSCRIBE NOW! https://www.youtube.com/@RJBatesIII
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Welcome back to Wholesaling Around the World, the Wisconsin edition. And Wisconsin comes in with a population rank of 21st in the United States. And in regards to virtually wholesaling, it's in the prime location in the United States, up in the Midwest, right there by some of the best states to wholesale in Michigan, Ohio, Indiana, Illinois. But personally, I've never really loved wholesaling in Wisconsin. It's always been, in my opinion, one of the weakest states in the Midwest. And our volume in Wisconsin kind of mirrors that. And I honestly can't put my finger on why I've always felt that way or why our results have not been better inside of the state of Wisconsin. I mean, you have Milwaukee, Green Bay, Madison. You feel like there should be opportunities there that are comparable to some of the other Midwest states, but it just hasn't really been the case. And even inside of Milwaukee, with as great of a city as Milwaukee is, it's always just been kind of an oddball for us in regards to both acquisitions and dispositions. It's really middle of the road. It's not super easy to get properties under contract. It's not super easy to dispo properties there. It's just kind of bland right in the middle. And that's pretty much where I rank Wisconsin in regards to where it sits in the 50 states. It's kind of right there around 25th, which is really shocking because of the price points and the fact that where it sits is a location. I would think it would be closer to being in the top 10, but it's not. And going back to 2020 when we started wholesaling in all 50 states and we started doing marketing in Wisconsin, I had high hopes for it, and I thought it was going to be better. I really thought that Milwaukee would end up being similar to like a Detroit, Michigan, or a St. Louis, Missouri, where we have done an astronomical amount of volume, but Milwaukee just hasn't ever really kind of lived up to that. It's always been a little bit weird in regards to comping and underwriting. It's not like uh St. Louis or Birmingham or Detroit where the as-is values are much lower. It's kind of always just there's just a chunk of comps that kind of tells you where the property values are. So it's not as, I guess, Midwestern as some of the other Midwest states. And so because of that, I've never really loved Milwaukee. Just overall in Wisconsin as a whole. The one thing I will say that I've loved about Wisconsin is our freaking logo there. That thing is one of the greatest logos ever created. So you got the University of Wisconsin, they're the Badgers. You got the Green Bay Packers, which they're, you know, they're the cheese heads, right? They all wear the cheese heads. Cheese is made in Wisconsin. And so you got an angry badger eating a block of cheese. What a great logo. That's really the thing I love the most about Wisconsin. Now, looking on the regulation side of things, we do have regulations in Wisconsin. So you've got the Wisconsin real property wholesaling regulations. And the summary is Wisconsin requires wholesalers to disclose their status as a wholesaler to sellers before entering into a purchase agreement. Sellers then have the right to rescind the agreement if that disclosure is not provided prior to the seller signing the contract. So wholesalers must provide written notice of their status as a wholesaler before executing a purchase agreement. And sellers they can rescind the agreement anytime before closing if the wholesaler fails to disclose their status, and the sellers may retain any earnest money deposits or option fees paid by the wholesaler. So, my question to the competition and the industry as a whole, who looks at how we talk to sellers and is not transparent about wholesaling or being a wholesaler, and does the whole fake underwriter, my finance department needs to approve this. How do you get around wholesaling in Wisconsin? How are you teaching your students, your community to talk to sellers in Wisconsin if you're not saying, hey, we are going to wholesale this property, sign this disclosure? I really want to understand how this is happening where lying and mental manipulation is the commonplace for some of our competitors. Maybe they're making the choice to just avoid states that require transparency. But as we're breaking down state by state and we're seeing what the regulations are coming down, this is what the United States of America as a whole wants from us as an industry. Transparency, authenticity, honesty. Just tell the sellers that you're a wholesaler, you're going to sign a contract, and then you're going to assign your equitable interests. If you do that, they don't have an issue. That's how the majority of these regulations are written. And so looking at this law that now is in Wisconsin, I just think that this is an opportunity potentially for Wisconsin to become a better location than where it currently sits for me as a virtual wholesaler. If my competition is not willing to be transparent and tell the truth about what they're doing with these sellers' properties and how they're going to wholesale it and assign their equitable interests, I have no problem with that. The Titanium University community has no issues whatsoever with being transparent and just explaining to the seller the value that we bring. We don't have to play these games. And so I personally believe that if every state were to adopt this regulation right here, it would only make our industry better overall. I welcome this regulation right here because what I think is going to end up happening is it's going to weed out the bad apples inside of our industry. It's going to get rid of the lying and the manipulation and the really pulling the wool over sellers' eyes and making where we pretend that we're an in-buyer when we're not. And listen, I'm not saying I was always perfect at this because I came up under the pretense that we weren't supposed to tell sellers the truth and be transparent about what we were actually trying to do. So now seeing that there are no issues with this, and yes, does it sometimes that lead to us not getting a signed contract? Absolutely. And that's okay. It's the seller's right to know whether or not they want to sign a contract with a wholesaler or if they don't. The same way it's their right to sign a listing agreement with a licensed realtor or not. Are we the right solution for their needs? And in this circumstance, inside the state of Wisconsin, I absolutely welcome this regulation. Now, this regulation has been around for a minute now. So for those of you that are currently wholesaling inside of Wisconsin, how has this impacted your business? I would love to know inside the comments, especially those of you that are doing volume inside of Wisconsin. Is this kind of one of those unregulated regulations, right? There's no one out there enforcing it, or inside the state of Wisconsin, are they heavily regulating this and making sure that the wholesalers are abiding by this? And I would also be curious to know how are the sellers now aware of the fact that they can terminate a contract, keep the earnest money deposit if they did not receive a disclosure up front? That's the main question that I have about this is how do the sellers know what their rights are now? Because they're unrepresented. They don't have that license realtor. Are title companies telling them? Are the closing attorneys telling them? I don't know what the answer is there, but I hope more and more states adopt this regulation to help our industry start doing the right things. Let me know what you guys think in the comments. Show me some love and let me know. Do you agree or do you disagree about where the state of Wisconsin lies in rankings? Is it in the 20s? Is it higher? Is it lower? Let me know in the comments. Make sure you like today's video. We'll see you guys tomorrow.