Hey there, it’s Casey Denman here with TaxSaleAcademy.com. Thanks so much for joining me for this week’s quick tip. Before we answer this week’s tip, don’t forget to hit that red subscribe button to subscribe to our channel if you’re looking to learn more about investing in tax defaulted real estate.
This week I wanted to address something that tends to frustrate me a little bit. And this is probably the number one piece of advice when it comes to looking for your first tax sale property.
Here it is: Don’t overcomplicate things unnecessarily . . . you should look for a property that is, well, SIMPLE. By far, this is the best advice I can give someone on choosing a property. Now, simple might mean a ¼ acre vacant lot. Or maybe it’s that cookie cutter house. But it’s something you know you can buy, then very easily sell and it won’t be a huge headache. You want the norm. You want something that doesn’t require crazy amounts of effort.
I mentioned this on my podcast earlier this week. I get emails from people who will come up with crazy and extravagant ways to work the system. It’ll be four paragraph strategy that are incredibly complex for their first investment. And if one little tiny piece of their extravagant strategy goes wrong, then the entire deal blows up. It’s such an extremely wreckless way to operate.
Instead, as you start focus on that simple, easy, boring stuff. Now, you might not make ten million dollars on it, but that’s ok. You’re gaining experience and hopefully making a few bucks at the same time. It’s definitely not as exciting as some crazy as that million dollar plan that you might be able to think up. But it’s manageable. It’s doable. It’s something you can handle.
If you’ve never picked up a hammer before, you probably don’t want to go out and start building a house today. Instead start by hanging a picture or something. Do something manageable.
If you’ll always keep this in mind, you’ll do just fine in this business. Just constantly ask yourself, is this simple? If not, skip it and move on to the next property. There are thousands of properties sold every single day and it’s important for yoru first few investments to be as simple as possible. That complicated, risky, crazy effort involved type stuff can come down the road if you want it to. But for not, keep it simple.
I truly hope this has helped you as you’re working on investing in your first tax sale property.
For more information on Tax Sale investing, there are a bunch of helpful links in today’s video description. Including one that will take you to our primary site at TaxSaleAcademy.com when you can join the academy for our most advanced and step by step training.
Take care folks and make it a successful day. See ya!