Did you know it’s possible to begin investing in tax sale properties using a credit card? Watch this video to find out more information!
Hey, folks! Casey Denman here with TaxSaleAcademy.com. In this video, we’re talking about how you can buy tax sale properties using plastic. Yeah, believe it or not, your trusty little credit card that you have, you can buy properties using this sucker.
A lot of people have the crazy excuse, “I don’t have any money. How could I possibly get started in tax sale investing?” With this video, you can throw that excuse right out the window.
I also get a lot of people that ask me, “How did you get started in tax sale investing? How did you fund your initial purchases? Did you have some sort of crazy inheritance to get you started investing?” No, I didn’t have some rich uncle that I didn’t know leave me millions and millions of dollars. I basically started off with just a little bit of money of my own, and then a lot of help from my friends at Visa and MasterCard. They are the reason that I funded my initial tax sale purchases.
Now, there’s two ways to use your credit cards to fund your tax sale purchases. The first one is becoming more and more popular, and that is to pay directly at the auction with your card. Yeah, believe it or not, you can actually go to auction. You can bid on a piece of property. And when you go to pay, just as if you would hand them cash or a cashier’s check, you instead hand them your credit card. They slide your credit card. And then, lo and behold, you have a charge in your account for that piece of property.
Now, sometimes they will charge you some sort of surcharge. It might be 2% or 3%. And the reason they do this is credit card companies – Visa, MasterCard, AmEx, Discover and all the rest of the credit card companies – they charge a 2% or 3% surcharge on top of everything else to their merchants. So what happens here is the auction company or the county will pass this surcharge on to you. So you might pay 2% to 3% more, but it is a very, very easy and convenient way to pay with your credit card.
The second method here to help you pay for your tax sale properties utilizing your credit card is through a cash advance. Now, I know what you’re thinking. Cash advances on credit cards charge all sorts of crazy fees and crazy interest rates. And well, yes, that possibly is true. However, if you don’t have any other money, this is not that bad of an option. If you learn how to properly invest in tax sale properties, you can use these cash advances. You can buy the property with your cash advance and sell the properties very, very quickly so that the cash advances, so the interest and all the fees don’t catch up to you. If you sell a piece of property within one month of you purchasing it and within one month of using that cash advance, that interest rate and stuff isn’t really going to have a huge impact on you.
So there you are. There you have it. You have two ways that you can use your plastic to pay for properties. That is pay directly at auction by swiping it or use it for a cash advance.
Now, if you have the excuse where you say, “I have no money,” use your credit card. Right then and there, we debunk that myth that you need money to invest in tax sale properties.
For more information about the very lucrative tax sale business, head on over to my website at TaxSaleAcademy.com. And you can do that by clicking the blue link right here next to my head. That’s TheTaxSaleAcademy.com.
Have a great day, folks! Bye-bye.