Transcript:
Welcome to the Tax Sale Podcast, where tax sale investing is made easy.
I’m Casey Denman, a tax sale veteran, expert, and trainer, author of the tax sale playbook, founder of the tax sale academy and your host here on the tax sale podcast.
Thanks for joining me on today’s podcast, and as always, at the conclusion of this podcast, if you’re looking to learn more about investing in tax defaulted real estate head to taxsaleacademy.com. That’s taxsaleacademy.com.
As the premiere tax sale educator, I get a lot of people with excuses that they are looking me to talk them out of. The should, could, would, don’t know how, what do I do type of questions. And I understand the hesitation to get involved in anything new. And the fact is that these excuses might be legitimate reasons. I completely get it.
But first things first, if you’re truly serious about getting in this business you need to be committed. Don’t just say that sounds fun, maybe I’ll do it one day. Instead, make that day…today.
Now it’s time to cue the reason you can’t get started. I can’t make it today, because blank. Push through it and listen to the rest of this episode to see the path you should take to get past these excuses.
Here’s the key to this business and truthfully, probably every other business. Get started. Get involved. Gain momentum. Move forward. Get going. Now. Like, right now.
I’m not Tony Robbins or Ed Mylett and I’m not here to motivate you. But if you want to get that momentum started, if you want to get going, become active, force yourself out of your comfort zone and take action.
What I’m about to do is provide five ways that YOU can take action. Five ways that you can build that momentum. Five ways that YOU can become involved. Have you ever hung around someone that had a certain hobby and it became your hobby? Or maybe you grew up with a parent or friend that had a special skill that you now have. There’s a lot of value in association. There’s value in being around something. There’s value in getting involved.
When it comes to tax sale investing, there are a number of ways you can get involved. And the beauty is that each of these requires effort, they require time, but they don’t necessarily money.
So, let’s discuss five ways you can start gaining momentum as a brand new tax sale investor:
1. Know Your Market. Think about it for a second. A gas station sells gas, a restaurant sells food, a barber sells a haircut . . . as a tax sale investor, what is it that you sell? What is it that you invest in? Real estate. As a tax sale investor your finger should be on the pulse of the real estate market AT ALL TIMES. Not just when you are ready to invest. But right now. Track the activity every single day. Know what’s going on in the community – new developments, new businesses, economic changes that impact real estate, zoning changes, building changes, that kind of stuff. Then know the market in it’s entirety. What do the trends say? Are you seeing more or less properties being put on the market? Prices going up or down? What’s going on with the market. Then know the areas you invest in. Is someone building a new home nearby? Did that one listing ever sell? Here’s your goal. When someone says, how the market, you should know exactly what’s going on at that time. Become the expert in your market! You can do this by being relentlessly active in learning about your market. Read the paper, browse listings DAILY, subscribe and follow Realtors email lists and their social media channels. Determine what’s going on. Know Your Markt.
2. Research Properties. Get on the property appraiser’s site, the GIS system, the building department’s website, use every single site and started researching real estate. What’s this link do, that button, what’s this mean, figure out all the answers to the questions you might someday ask yourself. You can start with properties that are familiar to you. Maybe the property you own or live in. Research it. Find out everything possible about it. Then compare the information you discover to what you know exists. The look at the history of the property and everything else. Then maybe research a friends house or a family member’s house. Then the lot down the street. Start researching properties you’re somewhat familiar with. After that get a tax sale auction list and practice researching tax sale properties. Then do some drivebys. Research equals results. The more efficient, accurate and comfortable you are researching properties, then the better your results will be.
3. Attend an Auction. Nothing beats attending an auction. Take the time to actually attend an auction. Get your notes together, arrive early, register, take your seat, listen to what’s going on, pay attention to the rules, to the process, to the bidders and the commentary. Allow it to be hands on training for you. Focus on what you’re doing and hearing. And even if the auction is online, that’s fine too. If you don’t have the option to physically attend an auction, you can still attend one online. Read the rules, register, go through the process as if you’re going to buy something. Watch the properties get auctioned off. Be there, get involved. Pay attention.
4. Socialize. That’s right, be social. And for us introverts out there, this can be difficult. As much as some people want to be their own one indian tribe, it just doesn’t work like that. You’ll never find success. Talk. Maybe this is easy for you, maybe it isn’t, but whatever the case, get out there and talk. Talk with other investors. Talk to Realtors. Talk to bankers. Talk to appraisers. Talk people that own real estate related businesses, talk, talk, talk. Now obviously, don’t be annoying and don’t just talk to hear yourself talk. Add value to a conversation. Engage with people. Listen to what they’re saying and doing. Pay attention to their actions. Attend auctions and talk there. Go to open houses, chamber of commerce meetings, grand openings, home tours, new construction models, that kind of stuff and be social. Approach it from the standpoint of how YOU can help them, not the other way around. Just by being around other professionals in this industry, you will certainly learn, you’ll make others aware of you and you’ll gain experience through others.
5. Lastly, is to follow us. The Tax Sale Academy. We offer more training on this subject than anyone in the world. We have 500 plus videos on YouTube, dozens of podcasts, lots of resources at TaxSaleAcademy.com. We have a state guide which you can access in the show notes. We have The Tax Sale Playbook, which is an incredible tax sale investing resource we’d like to ship you that you can claim at TaxSaleAcademy.com. If you want tax sale training, we’re your resource. We provide more free trainings than most people offer as paid trainings. If you want to be notified when we post new trainings, be sure you subcribe on youtube and here on our podcast, that you like out social media pages, and you can even follow me personally. You can find links to all of this stuff down in the show notes. And obviously, if you want the most detailed, step by step process to tax sale success, we operate the leading tax sale training academy, at taxsaleacademy.com.
Guys, I can’t emphasize enough the importance of taking that first step. The importance of you actually getting started. Move forward. Get momentum. You can do that by being involved. And again, my suggestions on getting involved include learning about your market, research properties, attend an auction, socialize and learn from us.
And my biggest suggestion of all, is that you take that first step as soon as possible. Don’t put it off. Get started right now.
I hope you found this episode helpful guys.
If you haven’t done so yet, be sure to pickup your copy of my free book, Tax Sale Playbook, which you can get at TaxSaleAcademy.com. The book itself is free, we just ask for your help covering the nominal shipping costs.
And as always guys, if you found this episode helpful it will mean so much to us if you take a few second to leave positive feedback.
Take care guys and make it a successful day.
See ya!