Every investor has their own style of bidding at a property tax sale. Also, each sale has its own rules of bidding. It is important to know which one works for you and keep doing it to get more properties. Here are some tips that can make an impact in your bids:
- Avoid confusion by labeling the properties you’re interested with all bid sheets and maps. Utilize various color schemes and highlight those you like best. Reference them with a name or tracking number for easy identification.
- Before going to auction, ready your bid list because things happen quickly in large tax sales. Be organized in order to get your favorite properties before other investors do.
- It is best to know in advance how much you’re willing to spend and the maximum bids on each property in your list.
- There are auctions which are held outdoors or in large rooms that would require you to speak loudly. Everyone should be able to hear you if you’re going to do this.
- On each property you bid on, a well crafted strategy is needed on what to do next with it once you’ve won. Do you flip it afterwards or plan on owning? Have a sound decision.
Each has its own strategy. It is up to you which one works best that guarantee of getting dirt cheap yet good looking properties.