I Think This May Be The Worst Market For Wholesaling

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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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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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Transcript

Kicking Off The Louisiana Edition

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Welcome to Wholesale and Around the World, the Louisiana Edition, also known as the Louisiana Edition. Depending upon how you pronounce that. I mean, listen, my dad was born in Louisiana, and he pronounced it Louisiana, not Louisiana. So we're just gonna go with Louisiana today, okay? But here's the thing: this series is all based around my personal feelings on virtually wholesaling state by state, and this is our 33rd episode, so we're nearing the end, and I'm not gonna lie, there's some states that I've wanted to avoid, I didn't want to talk about them all, right? Some of them, they just they're not good. Louisiana sucks. That's the bottom line. This this place is a dumpster fire, and and I hate virtually wholesaling in the state of Louisiana. Now, we always talk about the population rank, and that kind of correlates to where it ranks in regards to virtually wholesale. Well, Louisiana, uh, they said we're gonna break that trend because it comes in ranked about the 25th most populated state. 4.6 million residents of this just dumpster fire of a location, all right. And and you know, based off of that, it should be right in the middle. Well, here's the thing you can get leads, you can get properties under contract in Louisiana. That's not a problem. But if you want to increase your contract to termination rate, get you some leads in Louisiana. Because when it comes to dispositions, it is difficult. Okay, now we we always talk about the major cities. Obviously, New Orleans is the major metro city in the state of Louisiana, but man, you want to talk about just a weird place to comp and underwrite. That place is crazy, it rivals Baltimore, Philadelphia, with just how hot and cold it is, street by street, what the in buyers are actually seeing. I would compare Louisiana to there's only one other place that I feel this way about virtually wholesaling. And I don't care about how weird South Dakota can be because everybody knows everybody and how rural it can be. I don't care about New Hampshire and how some people there don't even know what wholesaling is. I don't care about how rural and just the wilderness Montana and Wyoming are, West Virginia and Louisiana, they're in a league of their own. They're in a league of their own in regards to the amount of motivation that sellers have and how awful dispositions is. Now, can you assign deals in Louisiana and West Virginia? Of course. Have we? Yes, but this place is ridiculous, even in a place like New Orleans that is obviously going to have in buyers, and there's plenty of real estate transactions going on there, it's just extremely difficult to get a deal that makes it across the finish line in comparison to how many deals you can get under contract, where there just won't be an in buyer for that deal, whether or it's it Louisiana is one of the few places in the country that it doesn't matter how deep of a discount you get, how cheap you get it. Some buyers will be like, we just flat out are not buying in that location, and that kind of continues throughout the state. Baton Rouge, home of Louisiana State University, the the Tigers in the SEC. You would think that would be a great major city, college town, still gonna struggle there. Lafayette, same thing, Rustin, Shreveport, Bozier City. It doesn't matter where you go in the state, it sucks. It has one of the lowest median incomes in the entire United States, has one of the lowest education rates, which I will say the ranking for education has improved over the past couple of years, but it Louisiana is just in a tough place, and so for me, I've always looked at Louisiana as like that's a place that being a nationwide wholesaler, when we get leads through PPL companies and we see leads come in through Louisiana, man, it's a kick in the teeth. Because there's just really not places there that are known areas that, hey, you get it under contract at a good price, you know you're gonna be able to dispo. It's kind of a flip of a coin, and so we've done deals throughout the state, but we've also had plenty of terminations, we've wasted time. But listen, Shreveport, Bozier City, again, very low price points. You know, I remember our first several deals that we did in Shreveport. We were getting them locked up at like two grand, dispoing them for like three to five grand. Oh, that was that was our introduction to the state back in 2020. Then we've done deals in Monroe, where there's another university, University of Louisiana, Monroe, the Warhawks. Took my niece to a college football game when I attended North Texas when she was a baby there. We went and watched North Texas play ULN ULM. Listen, that on the surface, it feels like it should be a small college town where you should be able to dispo cash flowing assets, rentals, small multifamily, and we have, but we've also struggled to move deals during the 2023 50-50-50. I locked up a no-down, no interest, seller finance tenant-occupied triplex in Monroe, and it took us damn near a month to dispo that thing. I mean, that's insane because if we pretty much get it anywhere else in the country, that's an automatic disposition assignment. We're we're moving that. But in this location, it was just difficult. Alexandria is another place. Lafayette, we've done deals there, but again, it the our contract to close ratio in Louisiana is one of the lowest. The only other state that we probably have a lower contract to close rate is West Virginia. So, on the surface, if you were to ask me, which is the purpose behind this series, where should you virtually wholesale and where should you avoid? If you are new to nationwide virtual wholesaling, I personally believe you should avoid Louisiana. Now, I am certain there's going to be someone that watches this video and disagrees with me, and I welcome it. Because I want to learn is there a pocket of the state that we are missing out on? Is there something that we're not understanding? Because we are pretty good at virtually wholesaling, but this place, this state, has just been a kick of the teeth, and it's our neighbor. I mean, it's it's a place where it gotta fits our business model. If you look at our other high-volume states, Missouri, Ohio, Michigan, Indiana, Illinois, Alabama, Mississippi, these places we've done significant Arkansas, significant volume from that price point, it kind of rivals Louisiana. So it's not because we don't know how to common under right, it's not that we don't know how to handle lower price point properties, it's just there's something different about Louisiana, and I think it has to do with the income inequality in the state, the income levels, the median income being extremely low. And I just think it's a weird place where there's so many properties that just hold no value. So, that being said, we have a guest with us today that I wanted to introduce to you guys. Sitting right here to my right. That's the brand new titanium fantasy football trophy that is about five foot tall. I want to introduce, I don't know where I'm gonna put it in my backdrop here. I tried to set it right here where I've got the the Odin statue and my Viking chess guard, but it's too tall. But I I I got this because I won fantasy football this year in the Titanium League. Garrett Littleton won the 2024, so we've got our names down here at the bottom. This is gonna be the trophy that we keep inside of titanium for each and every fantasy football season. So I you know, we're already talking about one of the worst places to virtually wholesale. Why not make this the video that we introduce, the new trophy? And and so you can only see about half of it. I uh I don't know how we're gonna showcase the rest of it, but I'll figure that out. But I wanted to go ahead and just showcase it. Honestly, the the reason why I did that is because I forgot I left it right behind me until I was already recording the video. So just that was improv right there. But listen, bottom line, uh, I despise Louisiana, I despise it, it's one of my least favorite locations. So, again, like I said, if you disagree, if you are successfully wholesaling in the state of Louisiana, let me know how. Educate me, baby. Uh I've pumped out thousands of videos to educate you guys. Let me know what I am missing about this place because I despise Louisiana, my two least favorite states. Now we've done them, we've checked them off the list. We had to do all 50. West Virginia, Louisiana. It doesn't get any worse than those locations. So if you get leads there, buckle up for a wild ride and good luck when it comes to dispositions. All right, guys, that's our episode of Wholesale Around the World, the Dumpster Fire Louisiana edition. Show me some love because my goodness, I did not want to record this video. So I I said the other day that I I would I would show up and be ready to record these videos, and then I chose to do Louisiana. What am I doing with myself this week? I promise you, tomorrow's King Closer Reacts, I'm gonna be in a fantastic mood. All right, show me some love, like the video. We'll see you guys tomorrow.