Tax Deed Sale Fail

Video Transcript:

Hey there! Casey Denman here with TaxSaleAcademy.com.
In this video, we’re talking about a Tax Sale Fail.

Usually, I’m here to tell you about how lucrative tax sale investing
can be. But if you’re not prepared or if you don’t know what you’re
doing, believe me, you can fail very, very quickly. Just about every
single auction that I go to, I see somebody buy something that they
shouldn’t have bought. Something that they obviously didn’t do
their research on or something they just didn’t know what it was.
There are a lot of different sectors to tax sale investing, including
one of the biggest ones, which is tax sale research. Then there are
a lot of subsectors of tax sale research. There are lots of different
things that you should research before you go to a tax sale auction.
And one of these, of course, is you need to have an understanding
of how to read Legal Descriptions.

Inside The Tax Sale Academy, I actually just did a huge webinar on
how to read Legal Descriptions which has helped out a lot of my
students. But as far as this video goes, I’m going to show you a
picture here in just a second about somebody that had no idea what
a Legal Description said or they just didn’t take the time to look at
it.

So let me show you this picture. Let’s put it up real quick here. Now
obviously, this is a very, very beautiful home. It’s a lakefront home,
a two-story home. It’s a wonderful, wonderful place. It would make
for a great getaway or even a great place to live.

Now, with that said, that piece of property sold for $30,000. Wow!
An incredible deal, right? The property that you’re actually looking
at, the house there is valued at $250,000. So you’re telling me that
the buyer bought this piece of property for $30,000? Well, not
necessarily. Like I said, the buyer didn’t understand how to read a
Legal Description.

Let’s pull up the Legal Description of this house now. It says the
East 5 of Lot 5 Block 4, Deer Lake Estates. What happens here is
the “E 5” stands for “East 5 feet” of Lot 5 Block 4 in Deer Lake
Estates. So this person literally paid $30,000 for a piece of land this
wide.

Now believe me, I can guarantee his wife probably wasn’t happy
when he went home. And I don’t want you to be in a situation like
this. Unfortunately, it’s a very, very sad situation because for all I
know, that could have been that man’s life savings and he could
have thought he was getting an incredible deal when he only
bought a little sliver of nearly worthless property. And it’s a very,
very expensive mistake and I don’t want you to make that mistake.
If you’d like to learn how to invest in tax sales the proper way and
how to really understand the researching, including, yes, the Legal
Descriptions, head on over to my website at
TheTaxSaleAcademy.com. You can do that by clicking the blue link
at the bottom of this video. Again, it will take you to
TheTaxSaleAcademy.com. Once you’re there, download your free
copy of my e-book, The Tax Sale Blueprint, and you’ll be on your
way to a very successful tax sale investing career.
Have a great day, folks! Take care! Bye-bye.