Tax Sale Investing: Pros and Cons

Have you heard about tax sales?  I was interested in them and the opportunity to get properties for pennies on the dollar.  I decided to attend several sales a few years back.  I even bought a house that went through this process.  No better way to learn than to participate!  I had preconceived notions and learned a lot in the process.  This is a quick write-up on what I learned to give you a perspective of the sale and process here in South Carolina.

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My experience buying a $2500 house

I bought a house for $2500 a few years back at the tail end of the real estate downturn.  I was surprised (as I’m sure you are!) when I found it available.  I bought it directly through the county office, as the previous owner did not pay their taxes.  When you buy a property like this, you don’t know what you are really buying until you own it as you can’t go inside.  When I bought it, I was wondering if I made the right decision.

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