Purchasing Tax Deed properties is not for someone looking to purchase an investment property quick and easy – unless you work with TEA Real Estate, LLC. Todd and Tracey spend A LOT of time on the computer searching through county listing after county listing of available tax deed properties for sale. Once we’ve narrowed down potential investment properties, even more time is spent on the computer researching each property, plugging in numbers to determine if that tax deed property has enough income potential. Through hundreds of auction lists available to us at any one time nationwide, we may have 10-20 properties on our radar that we are very interested in. We wish it was as simple as calling a realtor and making an offer. With tax deed properties, we must travel to the properties’ listed jurisdiction tax office to register for their tax sale auction.
Before we sit down at the auction, we have visited the properties to gauge the amount of rehab the property may or may not need. Estimated rehab information is plugged into our worksheet and we discuss what our max bid will be for each property before the auction begins. Knowing what the max bid is for each tax deed property is needed to keep us in check. If you’ve never been to an auction – they can be great fun! There’s a level of excitement as well as a level of competition. Both Todd and Tracey are competitive, so to know when we need to “tap out” is definitely a good thing. This ensures that the properties we purchase will provide the estimated return on investment.
Even after all of our research, homework, and calculating are complete, we may still be outbid at the auction. This tends to happen more than not. But, that’s OK! It’s through much due diligence that we are able to purchase tax deed properties that many investors will be interested in. As you can see, having Tracey and Todd do all of the homework, estimating and attending auctions provides you the tax deed properties you can invest in quick and easy.
If you want to know more or be put on our list of investors to contact when new properties come to fruition, fill out our online form or call us at (703) 623-3719. We look forward to working with you and helping you begin investing in real estate.