I Tried Wholesaling In New Hampshire And This Happened!

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Episode Transcript

Speaker 1 (00:08):
welcome back to wholesaling around the world.
The new hampshire edition man,oh man.
New hampshire is the state thatI have to say has just been one
of the most unique experiencesin regards to wholesaling that
I've ever had.
Right, I think it ranks upthere with South Dakota, maybe

(00:29):
Wyoming on some of the weirdnessthat we've had.
But, funny enough, whenever wedecided that we were going to be
completely nationwide all 50states I had this great idea
that I was going to have anindividual logo made for each
state, and so, as I was doing myresearch on what could the New

(00:55):
Hampshire logo be, I found outthat they're super proud of this
I guess natural granite rockformation called the Old man of
the Mountain, and I was like,wow, that's cool, that's pure
New Hampshire, right?

(01:17):
So I made our logo basicallythe Old man of the Mountain, and
then I found out after twoyears of using that as our logo
in New Hampshire, that the oldman of the mountain his face
fell off in 2003.
So that kind of is how ourexperience has been in New

(01:37):
Hampshire Just kind of like aseries of weirdness and kind of
awkwardness.
Our first ever deal that we didin 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, newHampshire, so it was up in the

(02:00):
Northern part of the state.
Not a ton of activity up there,not a lot of buyers, and
essentially what we did throughall of our pulling of lists,
cold calling, mass texting.
This was back in the day, rightwhen that was what you had to
do.
This is pre-investor lift,investor-based days, when you
actually had to work to be awholesaler, and we finally found

(02:23):
an end buyer that was willingto go out.
But they just could not wraptheir head around what
wholesaling was.
They're like so you're arealtor and we're like no, no,
no, no, we have the propertyunder contract and we're
assigning our equitable interest, and they just could not come
to grips.
They thought that that isillegal, right, you can't do

(02:46):
that.
And as much as we tried toexplain and build on our
credibility in the past successthat 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 theylooked at the property and
they're like we want to buy it,but the only way that we will

(03:06):
buy this deal is, if we go undercontract, direct to seller,
we're like but we're undercontract with the seller, we can
just assign the deal to you.
And now we've assigned ourrights to you, and now you're
under contract to purchase theproperty, but you're going to
pay us a fee and our assignmentfee?

(03:28):
No, we need to have thecontract where the seller signs
with our company and then, oncewe close, we'll pay.
Now, unfortunately, as much aswe tried to explain how this was
supposed to work, they wouldnot budge.
And so we were in a positionwhere it was like listen, we

(03:49):
either do what they want to door we're going to have to
terminate the deal.
So, sure enough, I saidwhatever, let's terminate, have
them go direct to seller.
And so, when it came time toexplaining how it would work
with our fee, they said listen,we will send you a check, a

(04:11):
check, old school, all right,old school, we're not going to
send you a wire, we're not goingto put you on the settlement
statement, we're not going to doanything.
We'll send you what we think itwas worth to us for you to
bring us this deal.
So again, I'm just like listen,I want $5,000.

(04:31):
And they're like listen, wewill send you what we think what
you did was worth to us.
Sure enough, our first everdeal in New Hampshire.
A couple of weeks after itclosed we got a check in the
mail for $600.
And that has pretty much been myexperience wholesaling in New

(04:53):
Hampshire.
Now, statistically, newHampshire is the 42nd most
populated state.
It's down there.
For me it's pretty close.
I mean, I'm not going to put aspecific number on there, but
it's ranging somewhere betweenthe 45th and 50th best state to
wholesale in my opinion.

(05:13):
Now I know there's some of youthat are going to watch this and
maybe you're up in New England,maybe you're in a part of
Massachusetts and you're goingto say, hey, we're wholesaling
deals in the southern part ofNew Hampshire, and I can
absolutely see how that's thecase.
Since that deal, we have donedeals in the southern part of
New Hampshire, and I canabsolutely see how that's the

(05:33):
case.
Since that deal, we have donedeals in the southern part of
New Hampshire.
Right, we've done deals inConcord.
We've done deals in what isthat?
Newport.
We've done deals down byManchester, mary Mac Rochester.
Yep, we've done deals in thesedifferent locations, but each
one of our deals in NewHampshire took an extended

(05:54):
period of time to locate buyers,to explain what Wholesale was.
It just doesn't feel likethere's a lot of volume there
and, to be quite honest with you, just based off the numbers,
with it being the 42nd mostpopulated state, that makes
complete sense.
So each one of these episodes,as we go by state by state, what

(06:17):
I'm trying to accomplish isjust to let you guys know if you
want to do nationwide virtualwholesaling, what states should
you go to and which ones shouldyou avoid.
Should you go to and which oneshould you avoid?
I'm going to say you shouldavoid New Hampshire unless
you're located in New Hampshire.
You're located near NewHampshire, like Massachusetts,
maine, vermont, somewhere rightthere, or you have a connection

(06:41):
to New Hampshire.
Maybe that would make thingsbetter for you and I'm sure
someone in the comments will letus know that that's the case.
But if you're based out ofTexas and you don't have any
connections to New Hampshire andyou're wondering where you
should go virtually, this isabsolutely not one of the places
that you should be hopping to.
The other facts of the matter is, due to the low population in

(07:04):
New Hampshire, you're also goingto have a much lower volume of
leads that are available to you.
So, across the board, it justmakes it a really difficult
location to gain traction in andjust with all the leads that
we've been getting from lead,zolo, speed to lead and property
leads over the past four tofive years being completely

(07:28):
nationwide, it is few and farbetween where we're going to
receive a highly motivatedseller lead inside the state of
New Hampshire, so not to justfoo-foo the state away.
We still get leads there, westill call them, but I am never
counting on us closing a dealinside of New Hampshire.

(07:50):
I would say, based off of whatI can see right here, what we've
accomplished since 2020, itlooks like we're averaging about
one deal a year inside thestate of New Hampshire.
So overall I feel like it's oneof the worst locations out
there.
But for those of you that mightbe doing deals inside of the
Granite State, next to the oldman of the mountain or where he

(08:13):
used to exist, let me know, wasI wrong?
Am I missing a honey hole?
Listen, I did an episode onMaine and I talked about how
much I love Maine New Hampshirenot quite there.
Let me know in the comments.
Show me some love A little bitmore than my initial buyer with
that $600 paper check.

(08:33):
Like today's video and we'llsee you guys tomorrow.