We’ve got a quick video for you today discussing what exactly I take with me to tax sale auctions. I have been to hundreds of auctions and although the list might be basic, every item is definitely a necessity!
Transcript:
Hey there! Casey Denman here with TaxSaleAcademy.com. In this video, we’re talking about what you should bring with you to a tax sale auction.
I’ve been to hundreds of auctions across our beautiful country. And to be honest, I take just about the same things to each and every auction. The first thing I take is a binder. Now inside this binder, it will have a tax sale list. You have to remember that a lot of counties and a lot of auction companies won’t provide you this list as you register. They won’t have it for you, especially if it’s a larger auction. If you’re talking 400 or 500 pieces of property, that’s a 70 or 80-page document and they’re just not going to take the time or the effort or the expense to print this list out for you. So the list that you go off of and the list that you follow as the tax sale auction progresses will be up to you to bring from home.
Now also in this binder, I include my notes on the properties that I’m interested in. My budget on these properties, any notes about what properties that I might like or might be more interested in than other properties. So this binder has just about all my pertinent and major information inside it. So of course, you need to get your own binder. And also, it helps to be professional. The last thing you want to do is walk up there with a stack of papers like this, flipping through the papers, trying to figure out what property they’re on and this and that. Just get a binder and be organized, be neat and be clean with it.
The second thing I take is two pens. I always take two pens. What I do this for is I’ll take one pen, of course. And then, what I’ll do is I’ll go down the auction list and I’ll mark off the properties as they sell. That way, I can keep track of where we are as the auction progresses.
The reason I take the second pen is well, let’s face it, pens run out of ink. And you don’t want to run out of ink and have to borrow a pen from a buddy or go to your vehicle to get a pen out and miss the property that you came to bid on.
The next thing I take is my identification. I take my driver’s license, or if you don’t have a driver’s license, I take my state ID card. Because a lot of times, they’re going to require this in order for you to register in order to bid.
The next thing I take is my payment method. It might be cash, it might be a cashier’s check, money order, credit card, personal check. It just depends on what the auction company or the county allows, but make sure you have the payment obviously if you plan on bidding on a piece of property.
Another thing I take is something to occupy my time. I’ve sat at auctions before that are 8, 9, 10 hours and you just sit there. Sometimes, there’s going to be a space where it might be 30, 40 properties in between a property you’re interested in and then the next one. So take something to occupy your time. Maybe it’s your iPhone. Maybe you can just browse the Internet on your iPhone. Maybe it’s a magazine. Maybe you like to read books. Take something to occupy your time.
The next thing I usually take is water, and possibly, a snack if I think it’s going to be a long auction. I used to not do this a whole lot, but I sat at an auction one time from 10 o’clock in the morning till 10 0’clock at night with no water and no snacks. Well, I learned my lesson very, very quickly. So now I take water and some snacks; at least a candy bar or something just to hold me over.
And the last thing – I personally don’t actually take one anymore because I don’t get too cold in these auctions – but sometimes you will get cold in auctions. So if you get cold easily, consider taking a sweater because you don’t want to be uncomfortable for four or five hours because if you’re uncomfortable, you’re going to lose your train of thought, you’re going to lose your focus, and it’s very possible you’re going to miss out on the very property that you came to bid on.
So I hope this has helped you as far as what you should take to a tax sale auction. If you’d like more information on the 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. Once you’re there, download your free copy of my e-book, The Tax Sale Blueprint.
Have a great day, folks! Take care!