Transcript:
Today’s topic is something extremely important but frequently overlooked. I’m talking about tax sale laws.
The fact is that I can sit here and records a thousand videos, which I nearly have, but until you take the time to review your state’s laws then you’re missing the entire boat and you’ll never be successful in this business for the long term. Every single state, even the states that have similar tax sale systems, have different laws that impact us as tax sale investors. The state statutes are what dictate how the systems operate, how the counties handle the sales and how us as investors can potentially benefit. You’ll sometimes hear me say things like in most states, or in some states, or it depends on what state your in. The reason is that there are no blanket answers that apply to every single state. Each state is different . . . because of the laws.
A large portion of the questions I get can be answered simply by reading state statutes. I plead with everyone to take the time to read their state statutes as they relate to tax sales. Yet, so many people don’t for whatever reasons. The laws are the very playbook that allow us to operate as tax sale investors. They are so extremely important and crucial to your success.
So, as you dive into this business and you become comfortable go to Google, search for your states laws, make sure you have the newest versions of those laws then read and analyze them making notes as you go along. Depend on the state this might be a two or three hour undertaking, but it will be worth every single second you spend doing it.
They’re everything to us as tax sale investors. So, again, please . . . take the time to read them!
Hope this helps!
I’ll see you next time on our tax sale starter series.