If you’ve followed us for anytime you probably understand by now how convenient tax sale investing can be using the internet. In this video however, we talk about the two primary advantages of actually traveling to attend in person only auctions!
Transcript:
Hey there! Casey Denman here with TaxSaleAcademy.com. In this video, we’re talking about the advantages of traveling to in-person only tax sale auctions.
Now, it is true that you can bid very, very conveniently sitting in your pajamas, lying on your bed, on your iPhone or your iPad, for the online auction. But this video is all about those auctions that don’t offer properties online.
Now there’s two primary advantages of traveling to these in-person auctions. Number one, it expands your market area. A lot of beginning investors like to focus on the areas that they’re familiar with. There’s nothing wrong with that to start off with. But what happens here, if you’re focusing on just one county – say you have 100 properties that are offered off in that county each year – if you get 2% or 3% of those properties, that’s only, well, two or three properties. Two or three properties is certainly not going to change your life.
So maybe you expand your market area a touch. So I’m going to go one county over. Well, even still, if you get 2% or 3% of those properties, you’re talking four to six properties a year, which again isn’t a whole lot of properties.
Now, what you do by traveling to different auctions around the country or around the state is you certainly expand your market area. Now what happens here is that you see more and more properties being auctioned off, which means you have a higher and higher percentage of winning these properties, which means the more properties that you possibly could win, the more properties you’ll buy, the more properties you’ll sell, and the more money you’ll make is what it comes down to for the most part. So it expands your market area by allowing you to see different parts of the state and different parts of the country going to those tax sale auctions and capitalizing on those auctions.
Number two, the second primary advantage of traveling to the in-person only auctions is that there is less competition. Now, a lot of people worry about competition in the tax sale investing niche. And my thing is that the tax sale investing niche, it is a niche. There’s not a whole lot of people that know about it. So when it comes down to it, you shouldn’t really worry about competition. But if you are worried about competition, then you should consider going to the in-person only auctions.
And the reason for this is the more convenient that it is for you or anyone else to bid, the more bidders will be there and the more competition there will be. I’ve traveled to auctions before in rural parts of the country where literally only three people have shown up and you can pick your properties for the most part. If you want a property, you can buy it for the opening bid. So traveling to these in-person only auctions, while it might not be as convenient for you as just bidding online, sitting in your pajamas, it will certainly lessen the competition, which means that you’ll be able to get more properties. And in turn, make more money. So absolutely, there are advantages of traveling to different tax sale auctions that only offer the in-person bidding opposed to the online auctions.
I hope you’ve enjoyed this video. If you’d like to see similar videos, head on over to my website at TheTaxSaleAcademy.com, which you can do by clicking the blue link right here next to my head. Again, it will take you to TaxSaleAcademy.com. Once you get there, download your free copy of my e-book, The Tax Sale Investing Blueprint, and you’ll be on your way to a very successful tax sale investing career.
Take care, folks! Bye-bye.