The three steps to a successful tax sale investment.
Hi there! Casey Denman here with with TaxSaleAcademy.com. In this video, we’re talking about 3 steps to making a successful tax sale investment.
Now, tax sale investing can be very, very lucrative and extremely simple if you know what you’re doing. The following 3 steps, although they might sound very basic, I guarantee, will lead you to a very successful tax sale investment each and every single time.
The first step is accurate and thorough research. This is by far the most important step, and that’s also going to be the most time consuming step. Basically, what you’re doing here is you’re figuring out everything you possibly can about that specific piece of property before you ever consider investing in it. We’re talking things such as size, dimensions. Are you able to build on it? What’s surrounding the area? What’s the zoning?
You also have to consider doing a site visit to the piece of property. Nothing will ever replace the knowledge that you can gain through doing a site visit. If you can’t visit it personally, consider hiring a scout like we teach in the academy. Additionally here when you’re doing this research, you have to make sure that you are focused and that you aren’t lazy. I research hundreds of thousands of pieces of property, and I guarantee you that there have certainly been times where I have lost focus or I just have a lazy day.
Well, those are not the days you want to be researching properties. That’s when you need to go do some other work or maybe find some new auctions or do this or do that, but that is not the time to research properties because what will happen here is if you’re not focused or if you’re lazy, you’re going to make mistakes and it’s going to impact you at your wallet.
The second step here is to buy it correctly. Now if your research is done properly and correctly and it’s thorough, this is going to be an easy step. We have a saying in the Tax Sale Academy that is “to make money when you buy and not when you sell.” What you’re doing here is you’re buying this property at such a deep, deep, deep discount that you know you can sell a piece of property at less than market value. Maybe 10% less than market value, maybe 20% less than market value, and still walk away with a huge, huge profit. The last thing you want to do here is pay too much for these properties and buy it incorrectly. If you’re only buying it say 10% less than market value, you don’t have a whole lot of buffer. You don’t have a whole lot of room and you have to sell it either at market value or higher than market value. So make sure you make the money when you buy and not when you sell.
And the third and the final step here to a successful tax sale investment is obviously you got to sell it. If you don’t sell a piece of property, you’re never going to be able to cash in, you’re never going to be able to collect the profits. And to be honest with you, this is usually the easiest part of tax sale investing. A lot of people, especially beginners, don’t understand that. They think selling is the hard part. Well, if you’ve done accurate and thorough research and you bought it correctly, selling is the easy part and there’s so many different methods of selling. You can use the old school methods or the new school methods as far as the Internet and the new technologies go. There’s so many different ways to sell a piece of property.
Inside the Tax Sale Academy, we teach ways where you can build a buyers database where you can sell properties within minutes, hours, or sometimes it might take as long as days, but it certainly won’t take months or years like it has using some of the old-fashioned methods; using the methods that a lot of people know about. So there’s all sorts of different methodologies to sell these properties. If you’d like to learn more information about selling these properties, consider joining the academy.
So there you have it; the 3 steps to make a successful tax sale investment. It’s accurate and thorough research. Buying it correctly. And obviously, the last one is to sell it.
I really hope you’ve enjoyed this video. If you’d like to see similar videos, head on over to my website at TaxSaleAcademy.com, which you can do by clicking the blue link right here next to my head. Again, it will take you to TaxSaleAcademy.com. Once you get there, download your free copy of my e-book, The Tax Sale Investing Blueprint.
Have a wonderful day, folks! Bye-bye.