A lot of people think they are only able to invest in properties in the state they live in. This is far from the truth. In this video we go into further detail why.
Transcript:
Hey, everybody! It’s Casey Denman here with TaxSaleAcademy.com, answering your weekly question. This week’s question is from Alfonso, and he asked, “Do I need to live in a tax deed state in order to invest in tax deeds?”
And Alfonso, first off, thank you for your question. I get this question or a variation of it very often. A lot of times people ask me, “I live in a tax lien state. Does this mean I can’t invest in tax deeds?” Or another one that I get is, “Does the information that you teach work in my state?” And I always respond to this with a rebuttal question, and that question is, “Do you need to live on Wall Street in order to invest in stocks?” Of course not. That is completely silly.
And Alfonso, technology has come a long, long way over the years and there are a number of counties that offer tax foreclosure auctions online. And quite literally, I see a new county every week that is following this trend of offering these properties where you can bid in a very, very convenient setting just through your computer while you sit at the coffee shop or your house or your office, wherever it may be. This would make it very, very beneficial for you.
There are other ways that we discuss in the academy where you can submit absentee bids for those counties that aren’t quite yet following that trend of offering the online auctions. And there are still some that do only offer in-person auctions, but there are ways for you to place absentee bids and there’s all sorts of other ways to get your bid in there without actually attending these auctions, and we talk about this inside the academy.
On another note, Alfonso, once you do start investing in tax sale properties and once you realize just how lucrative it is, I’m sure you’ll probably be more than happy to travel around to some of these auctions that don’t offer them online. But the short answer to your question is no, you don’t need to live in a tax deed state in order to invest in tax deeds. I have students that are in my academy that invest in 5, 6, 7 and even 8 states. I, myself, invest in a lot of states throughout the country.
Alfonso, I hope this has answered your question. If you need to follow up, or if anybody else has a question about tax sale investing, check out TaxSaleAcademy.com. That’s “TaxSaleAcademy.com.” Submit your question to me and it’s very possible I’ll do a video response just like this one. Have a great day, guys! Bye-bye.