Transcript:
Hey Everybody, Casey Denman here from Tax Sale Academy.com and today, we’re talking about drivebys. Tax sale drivebys.

So you’ve found a property coming up for either tax lien or tax deed. The value is there according to the research you’ve performed. You’ve looked at comps, you’ve checked out the aerial view and the street views and you’re ready to buy.

But first . . . you need to see it in person. Or at the very least, you need to train and hire a scout to help you do the driveby for you. So, once you get there, what exactly are you looking for?

Well, this is something that we go in depth on inside the tax sale academy because it’s obviously a very important topic.

But let’s talk briefly about ten things to lookout for. Now three of these apply to structures but be sure to keep all of these in mind at all times.

1. The area on the drive in. Don’t get tunnel vision watching your GPS to wait for it to tell you that you’ve arrived. Get your head up, look around, see what’s going on in the area. Is it a good area, bad area or something in between? Do you even want to invest in that area?

2. The area immediately around the property. When you reach the property, look at the neighbors first. If one neighbor is a drug dealer and the house on the other side was just burned down, you can probably just keep on moving. Remember, these are the folks that will be helping you sell and/or lookout for your property.

3. The property or land around any structures. What’s on it – anything of concern like trash or tires? How’s the slope? What kind of condition is it in – is it muddy like people drive over it daily? Is it under water? Any liability issues?

4. The Building’s Roof – My eyes tend to gravitate towards the roof first for whatever reason. How the roof? Is their missing shingles, algae, or obvious damage? If you buy the property, be prepared to have your checkbook ready – the roof is primary layer of defense to the elements. Keep this in mind.

5. The building’s walls. – Do they appear to be in good condition? I’ve seen numerous tax defaulted homes where the walls were leaning 2-3 feet out of alignment. Are they uneven anywhere? Again, this can be big money type stuff.

6. Windows/Doors – Besides the roof, another concern to keep the elements out are the windows and doors. Not only do they keep the weather out, but also animals, including those pesky human squatters we sometimes encounter.

7. Trees – Depending on where you’re located, trees can be the ultimate enemy. In Florida, we have these things called water oaks. And if you have one near your house and a hurricane is anywhere near you, you better be prepared for it to come through your roof. Trees can cause major damage – are there any that could fall on your house, or maybe even your neighbors house? Are there are large trees close to the house where the root system might impact the foundation? Be careful if so.

8. Notices – Believe it or not, those little white papers taped to the windows are probably not going to be welcome letters for the next owners. Read these notices and figure out what they are for and how they apply to you. Maybe it’s the bank saying the house is being maintained and winterized by them – wonderful. Or maybe it’s the county saying the house is about the be demolished – not so wonderful.

9. Inside – Most tax sale homes won’t be available for a typical showing where you can walk inside. Understand this and budget accordingly. If you can walk inside, or peak through some windows . . . legally . . . of course, then do so. Figure out what’s there, what’s missing, what needs work, what doesn’t; that kind of stuff. Even if you have no intention on remodeling it yourself, you must adjust your valuation of that property accordingly. The more you know about the property, the more accurate your valuation can be.

10. Your comps will be the last thing we discussed. Just because a comp is two houses away, it doesn’t mean it is truly the best comp. A model home compared to a tax defaulted property that has been abandoned for ten years isn’t an accurate comparison. Take the time to drive by and checkout your comps, to make sure they truly are comparable and/or make adjustments as needed.

So, there’s ten things to look for when you do your drivebys. Obviously, there is so much more that goes into this list. Much more than we can explain quick little YouTube video so keep in mind that this is just here to help you get started.

To get the step by step driveby process as well as the rest of our training, head on over to TaxSaleAcademy.com. While you’re there, don’t forget to grab your free copy of Tax Sale Playbook and take our completely free webclass by clicking the link below or the link at the top of the page at TaxSaleAcademy.com.

Have a great day!