What Makes NEW MEXICO a HIDDEN GEM for Wholesaling Real Estate?

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

Support the show

Episode Transcript

Speaker 1 (00:08):
Welcome back to Wholesaling Around the World the
New Mexico edition, the land ofenchantment.
And let me tell you, new Mexicois one of my favorite locations
for wholesaling, which isshocking because New Mexico only
has a population of 2.13million people, ranking it 37th

(00:31):
overall in population, andnormally when a state has a
smaller population it's not aswholesale friendly.
Why?
Because there's less people,there's less motivation and
normally there's less in buyers.
However, we have had a greatexperience wholesaling in New

(00:53):
Mexico and I think part of thatcomes from the fact that we
never actually intentionallysaid, hey, we're going to go
wholesale in New Mexico.
It was always kind of like thislittle bonus deal that we would
get from doing nationwide leadgeneration, either through PBL,

(01:14):
pbc, cold calling, texting.
It was always just kind of thisunexpected, like, hey, we've
got a really good lead inAlbuquerque, new Mexico, or
Santa Fe or Roswell or LasCruces, and then, as we started
locking these deals up, we foundin buyers and almost every

(01:34):
single deal that we'vecontracted in New Mexico has
ended up closing, which for meas a business owner, that makes
it one of my favorite locations,because that's what I'm always
looking for.
Try to minimize the contract,to close ratio Make it.
Hey, we want every contract toclose.

(01:54):
We especially don't want tohave to terminate a deal because
we couldn't find an end buyer,and so for that reason, new
Mexico has been one of myfavorite locations.
Now, what I will say about NewMexico is that there are very
rural parts of New Mexico thatcan be very time consuming on

(02:16):
the dispositions, as well assome locations where end buyers
just won't go.
Now, if you get too far awayfrom Albuquerque, or if you're
too far away from El Paso, whereyou're on the Texas and New
Mexico border, or you get toofar away from Santa Fe, then,
yeah, you're probably going tostruggle.

(02:37):
However, you probably shouldn'tbe buying that lead if you're
doing PBL or doing any sort ofmarketing in those locations,
unless that's just a part ofyour business strategy, which I
don't quite understand why itwould be so.
More often than not, if you'regoing to be searching for leads
on like, say, speedleadsMarketplace or something like
that, you're going to see thoseleads come in locations like the

(03:00):
Albuquerque's and the SantaFe's and maybe some of the
surrounding cities.
Now, I think our highestassignment fee in New Mexico was
$40,000, and the lowest thatwe've made on a deal is like
$5,000.
What I have always said isanything west of Texas,

(03:21):
state-wise is normally harder onacquisitions but easier on
dispositions.
I think New Mexico is probablythe outlier on that.
I think it actually resembles.
If I had to kind of compare iton the acquisitions and
dispositions, I would compare itto more of like Iowa, where

(03:43):
neither acquisitions ordispositions are really easy or
hard.
It's just kind of middle of theroad, the motivation that
exists in New Mexico.
It doesn't rival like a StLouis or Jackson Mississippi or
Birmingham where it's like, hey,I'm trying to dump this, I'm a
tired landlord, or this is avacant property.

(04:05):
What you will run into NewMexico sometimes, though, is
heavily physically distressedproperties.
I don't know if that's like aunique thing just for my
perspective or if that's reallyjust a New Mexico thing, but we
have seen some very heavilydistressed properties that the
rehab budgets are verysignificant, and that's where,

(04:25):
when we acquire the dealvirtually, we have to make a lot
of assumptions on the rehab,and then, when we actually get
the recon done and we get ourpictures back, it ends up being
worse condition than what weanticipated.
I have seen that be like one ofthe negatives to New Mexico.
Again, I have seen that be likeone of the negatives to New
Mexico Again, not necessarily afor sure thing of New Mexico,

(04:48):
that might just be my ownpersonal perspective.
In the comping and underwritingI have found New Mexico to be
one of the easier states.
Now I know people do complainabout not being able to see some
of the prices because it's anon-disclosure state.
However, propstream and Privityare pretty good, if you're in

(05:10):
the major metro areas, of givingyou comps.
So I've never really had thatcomplaint.
And when you look at thecomping and underwriting there
it's not necessarily street bystreet, you don't have to have a
lot of market knowledge.
If you just kind of follow ourweb formula principles, then
it's relatively easy to comp andunderwrite in New Mexico.

(05:34):
And then, moving to thedisposition side, if you utilize
any of the sources that we do,whether it's InvestorLift,
investorbase, dealspeed or justusing the gold mining through
PropStream and Privy and whatnot, it's pretty easy to locate the

(05:54):
buyers there.
Now, do they also realize thatin certain locations they're few
and far between as far as theamount of buyers?
Yes, and they will still try toout leverage you on that.
However, I've always reallyenjoyed the deals in New Mexico,
where the communication wasn'tas brutal as like a rural city

(06:16):
in Texas or like a Tennessee,which are some of the favorite
locations right.
I felt like the New Mexicobuyers are kind of like hey, I'm
really appreciative of the factthat I'm getting brought a deal
and I've always been curiousabout this.
I just don't hear about manywholesalers in the state of New

(06:37):
Mexico, now again 37th mostpopulated state, so it ranks way
down there in regards of justpopulation.
But you would still think therewould be more wholesalers in
Albuquerque and Santa Fe.
I just don't know why therehasn't been Even inside of
titanium university.
We only have one member in thestate of New Mexico, which is

(07:01):
still shocking to me because myexperience there has been so
pleasurable.
I don't know why more peoplehaven't kind of jumped in.
And then also with the amount ofleads that we've gotten over
the past three, four years, Imean, leads are available.
There are people that need ourhelp and I'm curious if that's

(07:23):
why I actually enjoy New Mexico,because there's just people
kind of sleeping on it and it'slike, hey, I never really hear
about New Mexico, I don't eversee people doing deals in New
Mexico and so because of that,you guys stay away.
Personally, anytime I see alead in New Mexico, I have only
considered one, because we'vedone deals, we have known buyers

(07:43):
there, we have relationshipsand I also know that the deals
can be moved right.
There's certain locations,similar in population, maybe a
little bit less, like theVermont, the New Hampshire, the
Montana, the Dakotas, wyomingwhere it's a lot more difficult

(08:04):
to dispo deals than it is in NewMexico.
Another benefit to the land ofenchantment is there are zero
wholesale regulations.
It's just the normal thingsthat we have to pay attention to
.
Right, you can't be brokeringreal estate, you're not selling
a property, you're assigning acontract and all of those types

(08:25):
of things, but there's no actualregulations against wholesaling
there, which I know a lot ofyou guys worry about, and so
that makes it a great location.
Now, real quick, here I'm goingto look at my map and share some
of the locations that we'vebeen able to successfully do
deals.
Share some of the locationsthat we've been able to
successfully do deals.
One, starting off with rightwhen you cross from Texas to New

(08:48):
Mexico, is Las Cruces.
Las Cruces is where New MexicoState University is.
You can definitely get buyersfrom El Paso to go to Las Cruces
.
So we've been able to do dealsthere, albuquerque being the
number one city to be able tomove deals.
Santa Fe, the capital of NewMexico.

(09:09):
We have not done as many dealsthere.
Also, I feel like there's alittle bit more money in Santa
Fe than Albuquerque and maybebecause of that, less motivation
.
Some of the more randomlocations that we've done deals
we've done multiple deals inroswell um, including.
I locked up a deal in roswellduring 2023 50, 50, 50 um.

(09:32):
Roswell is also like home ofaliens and whatnot.
It's like kind of the crazypart of new mexico which is kind
of fun.
Um, there's a place called.
I've never done a deal here,but I've always wanted to.
There's a city called Truth orConsequences, new Mexico.
I'd love to know the reasoningwhy it's called that.

(09:52):
If someone knows, drop acomment there.
Don't just Google it, only tellme if you actually know.
Other random locations we'vedone Clovis Socorro.
We've done Alcalde I don't knowif I'm saying some of these
correct Cubro and Grants, newMexico, as well as Carlsbad.

(10:12):
So kind of right in central NewMexico, from north to south.
We haven't done much in thewest.
We haven't done much in theeast, outside of Clovis.
Like I said, you have to avoidthe random rural locations
inside of New Mexico.
One other like just thoughtthat I have when it comes to New

(10:33):
Mexico you can pick up vacantraw land like large tracts of
land for really cheap there andyou could also normally pick
those up on seller finance terms.
So if you're like me and youlike hoarding away vacant land
and you have this big, hairy,audacious goal of owning 1% of
the United States, then maybeNew Mexico could be one of those

(10:56):
locations where you pick upsome large tracts of land for
cheap.
So those are my thoughts aboutNew Mexico.
Again, it's one of my favoriterandom states.
I wouldn't say let's go build awholesale operation primarily in
New Mexico, but overall I wouldgive it a four stars on

(11:16):
acquisitions, four stars ondispo, four stars across the
board.
Lower volume, but theassignment fee should be pretty
good, if not just slightly aboveaverage at times.
And no regulations Good endbuyers, good quality
conversations with the sellers,no regulations.

(11:36):
It's a great location to dowholesale.
I think more people should giveNew Mexico a shot.
Let me know what your thoughtsare about the land of
enchantment.
Have you done a deal there andif so, did you enjoy it?
Make sure you give me a like ontoday's episode and we'll see
you guys, tomorrow.