Vermont Wholesaling, Few Deals Big Wins

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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
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​Closed on over 2,000 properties
​125 contracts in 50 days (all live on YouTube)
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Transcript

Low Volume, Solid Profits

Small Multifamily Opportunities

Rutland’s Role In Deals

Attorney Closings And Disclosures

Using Dispo Software Smartly

Vetting Buyers In Rural Markets

When Vermont Fits Your Strategy

Final Thoughts And Listener Ask

SPEAKER_00 0:03

Welcome back to Wholesaling Around the World, the Vermont edition. Today we're going to be talking about the Green Mountain State, which comes in with a population rank of 49th out of 50. Meaning, there ain't a lot of virtual wholesaling activity going on in the Green Mountain state, which is unfortunate because the low amount of volume that we have done in Vermont has been pretty decent. I mean, the deals have been profitable. It wasn't extremely difficult for us to find in buyers. It's just it lacks opportunities. And that's directly proportional to the lack of population inside the state. Small, the population is somewhere around 650,000 residents. And so because of that, you're always going to have less leads, less opportunities. And that just leads you to not having an opportunity to be able to truly have volume in the state of Vermont. Now, that being said, as a nationwide virtual wholesaler, we do receive leads anywhere and everywhere, including Vermont. Now, when we get those opportunities, there have been a couple of trends that I've seen. In certain areas in the state, there are going to be small multifamily triplexes, quadplexes that are frequently distressed, tired landlords. Those are great opportunities in Vermont. The cash flow is pretty decent. There's normally an opportunity for you to capture quite a bit of equity on those deals for your in buyers. So funny enough, the city that we have done the most amount of volume in Vermont has been Rutland. And I've never been to Vermont. It's one of the few states I've never traveled to. But based off of people that have been in Vermont or lived in Vermont, they actually tell me that Rutland, Vermont is not the greatest location. But that is kind of typical for wholesale, specifically landlord type deals, small multi-family cash flow opportunities. That's where a lot of those deals live across the United States. So it's not shocking that that's where I've been able to do deals inside of Vermont. Couple other things to talk about when it comes to Vermont. It is an attorney state. It is not a title closing state. That is also an aspect that I don't normally like. I would say the attorneys in Vermont have been better to work with in comparison to New Jersey or New York New York, but I always prefer a title state over an attorney closing state. And Vermont is an attorney state. Also, there are no regulations for virtually wholesale or wholesaling real estate in Vermont, except for the fact that it looks like they are very big on disclosure to the seller and the in-buyer that you are wholesaling and assigning your equitable interest. Even if you're double closing, they still want the seller and the buyer to be made aware and that to be disclosed to them that your intentions are to wholesale the property. So that is something to pay attention to inside of Vermont. Now, the other thing that happens inside of Vermont is some really strange couple other things to talk about when it comes to Vermont. It is an attorney state, it is not a title closing state. That is also an aspect that I don't normally like. I would say the attorneys in Vermont have been better to work with in comparison to New Jersey or New York New York, but I always prefer a title state over an attorney closing state. And Vermont is an attorney state. Also, there are no regulations for virtually wholesale or wholesaling real estate in Vermont, except for the fact that it looks like they are very big on disclosure to the seller and the in buyer that you are wholesaling and assigning your equitable interest. Even if you're double closing, they still want the seller and the buyer to be made aware and that to be disclosed to them that your intentions are to wholesale the property. So that is something to pay attention to inside of Vermont, the state of Vermont. I don't know if that's a me thing or if that's a common thing inside of Vermont, because again, going back to my original point, we just don't have a ton of opportunities inside the state of Vermont. So that being said, the few deals that we have done there are pretty decent, especially utilizing the disposition softwares that we have nowadays, like investor base, investor lift, deal speed on speed of lead. Even despite the fact that you probably do not have a buyer's list inside the state of Vermont, now you can just go see are there buyers that are active in these cities? So anytime we get a lead, say we do purchase one for speed of lead, or it's something that's auto sent to us through property leads or lead zolo, one of the first things that we're doing is we're hopping into our disposition software and we're seeing is there buyer, are there buyers there? Are they active? And what were they buying for? What was the discount that they were looking for on these properties? And that's an important aspect of this because I get asked all of the time, how do you dispo rural prop properties? And the vast majority of the state of Vermont is going to be considered rural, okay. It's it's just the the nature of this specific area, very similar to New Hampshire and Maine. That being said, we can go in there and we can find those in buyers, get their contact information, and so we do have to embrace no on some of the leads that come in in Vermont because there's not any buyer activity. But if you're strategic about your process and verifying that there are in buyers before you send that contract, my personal experience inside of the state of Vermont is dispositions is actually pretty easy. So much so, when I went back and did some research on the volume that we've done inside of Vermont, it's probably one of the very few states that I can say, again, very few deals, but we've never had to terminate a deal in the state of Vermont. So that's something to kind of look at and say, all right, if you're paying attention to the buyer activity, making sure that you do have buyers, they are actively buying there. They're not passing on these deals, so there is an opportunity. In regards to virtually wholesaling, I would never tell somebody that Vermont or really anywhere in the northeastern part of the United States is where you need to get started. Maine, New Hampshire, Vermont, Connecticut, Rhode Island, those states to me are fantastic. Like secondary and third markets, kind of the little cherry on top of being a virtual wholesaler, but it's definitely not where you need to get started. Specifically, when it comes to Vermont, it's just due to the lack of opportunity, the lack of population, and also the unique type of properties that you're gonna come across, even with the leads that do come across, that newer wholesalers are gonna struggle with the fact that it's gonna be difficult to common underright. There's not always that straight blueprint property that you could compare it to. So for most virtual wholesalers, Vermont is a location that you should probably avoid at the beginning. Look at it as like it's one of the last markets that you're gonna add on. But overall, when you do get properties, there are end buyers as long as you're paying attention to that buyer activity before you send the contract. Those of you, if there are any, that are currently virtually wholesaling in the Green Mountain state of Vermont, let me know. Do you agree or do you disagree with my take? Regardless, I appreciate each and every one of you. Make sure you like my video today. We'll see you guys tomorrow.