If there is one thing I would consider to be the best friend of a successful tax sale investor, it is exactly what we’re discussing in this video!
Transcript:
Hey there! Casey Denman here with TaxSaleAcademy.com. In this video, we’ll talk about a tax sale investor’s best friend. And that is “patience,” believe it or not.
Having patience as a tax sale investor is a huge, huge asset. And there are two main situations where patience really pays off. The first one, and most importantly, is learning how to properly and successfully invest in tax sale properties.
Tax sale investing is not something you can gain all the knowledge that you need in just an hour or two. You can’t learn everything about tax sale investing in an hour or two, and then go off and think you’re going to become some sort of successful tax sale investor.
I’ve been in the tax sale business for a very, very long time and I have more experience than just about anyone in the country. And with that said, I continue to learn more stuff each and every day about tax sale investing. So to think that you can just take a day or two out of your life and learn everything that there is to learn about tax sale investing, you are completely fooling yourself.
I have people that join the Tax Sale Academy and they’ll literally join it for just one or two days. They’ll go through all the lessons as quickly as they possibly can and think that they can absorb all this information. And unfortunately, it just doesn’t work like that. There’s a lot of information when it comes to tax sale investing, so you have to be very, very patient. You have to learn the processes and the systems. And with that said, different people learn on different timetables. You might be a very, very fast learner. But still, there’s a load of information that you have to learn before you should consider even starting investing in tax sale properties.
So take your time learning how to properly and successfully investing in these properties before you actually go out there and do it. Have patience when you learn.
The second place patience can come to really help you in tax sale investing is at the auction itself. A lot of investors, especially a lot of beginning tax sale investors, they think to themselves, “If I go to a tax sale auction and I don’t buy a piece of property, I failed. I didn’t become a successful tax sale investor that particular day.”
Well, I look at it as quite the opposite. After all these years, I still go to tax sale auctions and I might sit there 5, 6, 7, 8 hours and walk away empty-handed, walk away not winning a single piece of property. And I don’t look at that as a failure. I look at that more actually as a success. I’m successful that day because I know I did not overspend on a piece of property.
A lot of these beginners, they’ll go to these auctions and they’ll say, “I got to buy something today. I got to buy something today.” And then, lo and behold, sooner or later when they go to buy something, they’re spending way over their budget, which means they overspent. And when it comes down to it, they’re going to lose money.
And they rush into stuff they shouldn’t have. Maybe they rush through their research or they rush into buying a piece of property that they researched, but they didn’t research as much as they should have. And when you do this, you make mistakes. Mistakes, when it comes to tax sale investing, can end up bankrupting you or they could put you in jail. At the very least, they will cause you to lose a substantial amount of money.
So, you must have patience, number one, when you’re learning how to invest in tax sale properties. And number two, while you’re at these tax sale auctions.
So, I hope this has kind of enlightened you as far as the tax sale investing business. If you’d like more information about the very lucrative tax sale investing 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. Again, it will take you to TaxSaleAcademy.com. While you’re there, download your free copy of The Tax Sale Blueprint, and you’ll be on your way to becoming a successful tax sale investor.
Have a great day, folks! Take care! Bye-bye.