Tax Sale

Today I went to my first Constable Tax Sale.  It was boring yet interesting.  I can't say that I really learned anything, however, I do have many questions.  I have already signed up for a seminar to answer those questions. 

There were some people there who took offense to others bidding against them.  I found that humorous.  Say the starting bid was $400.  A guy would bid the $400 then someone would come behind him and bid $500.  The first guy would then take it to the extreme and bid $5000.  It seemed he took it personally and did not leave his emotions at the door.  Another bidding war one bidder told another bidder to stop bidding because he has an unlimited amount of money to bid with.  The guy bid against him anyway.  The original bidder was upset and started yelling at the guy. 

Another lady bought a lot for $400 that was appraised by the county at $148.  I felt happy for her until I came home and researched her property.  Turns out she bought a property that apparently floods a lot.  I felt bad for her but then again that is a lesson to us all, especially us newbies, to do your research before buying! 

Another thing that just blows my mind is the number of people walking around with vast amounts of cash.  Dangerous!  I know no one knows but what if a bad person watches you from a previous tax sale and then on the next one decides to put your lights out? 

I can't say that I won't go to another tax sale but I do know that I will do my research on a property before I hand over that big chunck of change.  It was educational and I am glad that I went.

On another note, I am reading a book, don't know if I can name it by name but I did buy it from biggerpockets.com, about rehabbing, and I am so loving it!  It is very informative and the author does tell you like it is!  I am thinking rehabbing is gonna be my thing!  I love a challenge and I love to see a finished product. 

Until next time...happy investing!