Today we are taking a deep dive into buying properties at Huge Discounts through Sheriff Sales and Tax Auctions.
My guest today is Stephen Benedict, an investor in the West Michigan/Muskegon area with over 120 units in his portfolio. Stephen knows all the in's & out's of buying properties at Sheriff Sales and Tax Auctions, and he has agreed to walk us through the process.
Stephen talks about his first Sheriff Sale property, how the process works, why you should buy the first mortgage and not the second, the best & worst deals he's done, mistakes he sees other investors make, and understanding the TRUE costs of acquiring and rehabbing a property.
Stephen will also explain the differences between Sheriff Sales and Tax Auctions, and how Tax Auctions changed with the advent of the Land Bank and money laundering rules.
Stephen makes it clear that Sheriff's Sales and Tax Auctions are a high risk type of investment, but if you do your proper due diligence the rewards can be extraordinary.
Enjoy the show, and please take a moment to give us a review and rating on itunes.
If you'd like to contact Stephen, his email is: