In this week’s segment Marcus asks us if it is necessary to make repairs on tax sale properties.
Transcript:
Hey there! It’s Casey Denman here with TaxSaleAcademy.com, answering your weekly question. This week’s question comes from Marcus. And he asked us, “Are repairs required for all tax sale properties?”
Marcus, great question. There’s a common misconception out there that when you buy a piece of property out of tax foreclosure, whether it’s a structure of some sort, you must go in there, gut the place, spend tens of thousands of dollars and hundreds of man hours, making it in pristine condition before you can sell it. And this is simply not true.
Now, I do have students that do this. I have students in the academy that buy houses and they do invest a lot of money making these houses pretty and making them nice. I’ve been investing in tax sale properties for a long, long time now. I’ve invested in well over a thousand tax sale properties.
And with that said, 99.9% of the time, I’m not going to go in there and spend thousands of dollars fixing this property up and wasting my time and the contractor’s time and everybody else’s time. Inside the Tax Sale Academy, what I teach is to buy properties at an extremely cheap price. And then resell it below market value to possibly another investor who is going to put the time and the effort into renovating a piece of property. But as far as a tax sale investor, get in, get out, move on to the next property.
Inside the Tax Sale Academy, Marcus, we have a lot of different ways and a lot of different methods that you can make money without picking up a hammer, without hiring somebody. And again, without investing any additional money into repairs and renovations for the tax sale properties.
Marcus, I hope this has answered your question. If you’d like to follow up, or if anybody else has any questions about tax sale investing, head on over to my website at TaxSaleAcademy.com. And you can do that by clicking the blue link at the bottom of this video. Again, that’s TaxSaleAcademy.com. Submit your question and it’s very possible I’ll give you a video response just like this one.
Take care, folks! Bye-bye.