Did you know it it possible to bid on tax sale properties from the comfortable of your home many miles or even states away? It sure it! In this video we discuss how this is possible through absentee bidding!
Transcript:
Hey, folks! It’s Casey Denman here with TaxSaleAcademy.com. In this video, we’re talking about Absentee Bidding. A lot of people ask, whether it’s other investors or students or even just friends, they say, “How can you possibly invest in so many different counties?”
It’s true I invest in hundreds of counties across our beautiful country each and every year. As much as I’d like to be able to say I have some sort of super power, well, the fact of the matter is I don’t have any super powers. The reason I can invest in so many different counties is because I use Absentee Bidding a lot of times.
Here are a few different benefits of Absentee Bidding. Number one, of course, is that you can invest anywhere in our country. I’ve literally been sitting at an auction before, holding up a bidder number, sitting at a live auction. Then I have a laptop on the chair next to me, bidding at another tax sale auction a few states away. So I’m actually in two tax sale auctions at one time.
Another benefit of tax sale investing through Absentee Bidding is that you can invest without traveling. If you’re only interested in one or two pieces of property, it’s not cost efficient a lot of times to spend $500 or $1,000 on an airline ticket, rental car and hotel and everything else just to go and invest on those one or two types of property. So through Absentee Bidding, you can save a lot of money here, which will increase your profit at the very end.
Another reason is that you can invest on your timeline when you invest using Absentee Bidding. I’ve literally been sitting at a dinner before in a restaurant, investing in a tax sale auction. I’ve been placing bids right then and there. I’ve also done it on vacation and I’ve done it while I’m a passenger in a vehicle before. There are a lot of different benefits through using Absentee Bidding.
Now, there are two main types of Absentee Bidding. The first one is like an online auction platform. It can be almost compared to eBay, more or less. You’re bidding a lot of times real time against live bidders in a different state. Basically, you’ll submit your bid through a bidding console. The auction company will have somebody that represents all the Internet bidders and who will bid against all the people in the room. So the auctioneer in the room might have somebody that bid $100. Then the auctioneer online, the one representing you, will say, “Listen, I have an Internet bid for $200.” They go back and forth kind of real time.
The second way is through submitting an absentee paper bid or even an absentee online bid. A lot of people know it as a “Proxy Bid.” What this situation will do is you’ll say, “I’ll pay up to $300 for that piece of property.” Then the auction company will work on your behalf to get that piece of property as cheap as possible.
So the two main types of Absentee Bidding is through an online auction platform, and then you have an absentee proxy bid. So, when it comes to investing in tax sale properties, Absentee Bidding is a huge, huge benefit compared to going to the actual tax sale auctions.
Now, with that said, don’t be afraid to travel because, of course, there are a lot of benefits to traveling to the auctions. But if you aren’t able to travel or if you’re just starting out, definitely consider bidding absentee.
I hope this has helped you learn about tax sale investing. If you’d like more information about the very lucrative tax sale business, head on over to my website at TaxSaleAcademy.com. And you can do this by clicking the blue link right here next to my head. Again, it will take you to TaxSaleAcademy.com. And while you’re there, download your free copy of my e-book, The Tax Sale Blueprint.
Have a great day, folks! Take care! Bye-bye.