Tax Deed Sales - Preparing for Success

Author：Brent Crouch Source：none Hits：44 UpdateTime：2008-7-15 22:35:00

　
There's something about the hypnotic singsong of an auctioneer which has the power to divulge the intensely competitive side of you that you never knew you had. But after the excitement of a tax deed sale auction has come to an end, you don't want to find yourself stuck with a worthless piece of real estate you'll never be able to sell. So before you set out for the nearest upcoming auction, do your research and get the facts.

There is no substitute for careful research when it comes to investing. You have the potential to earn fabulous amounts of wealth through tax deed auctions-don't sabotage yourself with skimpy research. You can thwart many a bad investment with a simple phone call, visit to a website, or drive-by of a property.

Bidding Limits, the Internet and Other Insider Tricks

When you attend a tax deed sale, decide on a fixed and educated maximum-bid for each particular property you are interested in. Inclinations and hunches are unlikely to get you very far in the tax deed business. Let the background information you have gathered via your preparatory research guide your bidding-not the depth of your wallet or the sense of competition. Don't get caught up in a bidding frenzy-just because your competitors keep upping the bid doesn't mean the property is valuable. They may have failed to do their research. You, on the other hand, are always prepared to make smart investments.

The easiest way to get information on auctions and property is on the internet. Hit up the county website for property appraisals, dates, and other useful information. Sites like www.naco.org will steer you to lesser-known counties where the competition may not be so stiff.

Here's another secret of savvy investors-pursue tax deeds for vacant lots. Many investors don't even give these lots a second glance, bidding only on houses. Unrivaled, you can snap up these lots at absurdly low numbers-often for a little over $100.00. Your earning potential for a decent-sized lot you have paid so little for is incredibly high.

The truth is, only a fraction of your competitors at a tax deed sale auction will have conducted the responsible, thorough research that is required to consistently make great investments. Don't be numbered among the ignorant masses-put the effort into becoming an informed investor and your reward will be success, wealth, and an exciting new career as an entrepreneur.