The Untapped Goldmine of Struck-Off Properties

My 14-year-old son Nicholas asked me a brilliant question the other day. “Dad, if nobody bought the properties at auction, does that mean the property is not good?” Well, let’s dive into that, shall we?

The Struck-Off List: An Untapped Goldmine
After every tax deed auction, there are always properties that no one bids on. These properties end up on what’s called a “struck-off list” or “over-the-counter list.” Now, you might think these are duds, but you’d be wrong.

The Real Deal with Struck-Off Properties
I once found a property on Montgomery County’s struck-off list that I bought for just $6,342.79. Guess what? I sold it for a whopping $1.5 million! So, why was it overlooked? Simple, not enough investors knew about it.

Why Counties Don’t Help
When you call a county to ask about these lists, you’ll often get a puzzled response. Why? Because county employees are not trained to be your investment advisors. They’re trained to collect payments, period.

The Secret Sauce
The key is to ask the right questions. Instead of asking for a “struck-off list,” ask, “What happens to properties that don’t get sold at auction?” You’ll get directed to the right department, and voila, you’ve got your list.

The Lone Bidder Advantage
Remember my Orange County, Texas story? I was the only bidder in an online auction and ended up buying 15 properties for a minimum bid. I invested about $120,000 and stand to make about $250,000 net. Sometimes, being the lone bidder is a huge advantage.

Your Action Plan
So, next time you think all the good properties are gone, think again. Check out the struck-off list. You might just find your next jackpot property there, just like I did.