Mark Podolsky skips tax deed auctions in person because of costs and competition. Instead, he hires local agents with limited power of attorney to bid within preset limits, letting him invest in multiple markets without being there.
Hey, it's Mark Podolski, the land Geek from thelandgeek.com let's have another virtual cup of coffee together. So I get this question a lot and it's about the tax sale auction. So I only go to tax deed auctions because I actually want to own the property as opposed to tax lien auctions. So this is for tax deed auctions. And the question is, do I actually drive out, fly out and go to all the tax deed sale auctions in the states and counties that I'm interested in investing in? And the answer is no, I don't. And the reason being it's just not a really good use of my time anymore. Sometimes those rooms are packed and if I go I can't buy anything, the prices go too high. And I've spent time and money on hotel rooms, meals, gas, plane tickets, and to come home with nothing is a terrible feeling. Or sometimes what happens is everyone in the room feels the same way. Hey, I went all this way to buy property. I'm going to buy something and the prices jack up even above retail. So how do I avoid this? And what I do is typically I will go over the tax sale list with a agent that I'll hire. Maybe it's a local broker, local real estate attorney perhaps you know someone like that, someone who's been a fiduciary let's say, and I'll give them limited power of attorney and have them actually bid for me. We'll go over the list, we'll do our due diligence together and I'll say this is the most I want to pay for these properties and if we can get some, great. And if not, don't overpay. And I save so much time, so much money, and it's really been a great system. If you want more tips, tricks, techniques on how to make additional income actively or passively buying and selling raw land, go to www.thelandgeek.com. download for free the Passive Income Blueprint, get the ebook how to avoid the three fatal land buying mistakes. And of course, get the podcast delivered each week to your email inbox. And don't forget to register for the webinar how how you can make more money on $100 land flip than you can on $100,000 house and the five keys to successful land Investing. I'll have a link below. Anyways, this is Mark Podolski, the Land Geek. Thanks for having another virtual cup of coffee with me. I'll see you.
How to find funding partners: How to Scale Land Without Using Your Own Capital
