You’re probably neck-deep in info about the tax sale/tax lien/tax deed investing process, and wondering if you can really make a legitimate side income or even full-time income out of tax sale investing. You’ve run across John Lane’s website offering lists of tax sale dates across the U.S. and are wondering, “could it really be this simple?” Or maybe you’re nervous you might get scammed. Let me put your mind at ease by addressing a couple of burning questions you may have.
Q: Is it really possible to make money investing in tax liens and tax deeds? A: Yes. It’s really quite simple. If you’re looking to make a good return on your investment in the form of interest, invest in tax liens on nice properties. You’ll rarely end up with the deed, as most owners in affluent areas will end up paying off the taxes- complete with your hefty interest. If you’re looking to acquire property for cheap to build up your real estate empire (or just to flip a property or two), bid on properties at the tax deed sale. Depending on what state you’re in, if you are the winner bidder for the tax deed, you’ll usually take possession immediately.
Q: Will John Lane’s website help me out? Is it a scam? A: John Lane’s website will most definitely help you out if you decide to invest at the deed/lien sales. His lists are reasonably priced and will save you a lot of legwork doing research on the sales. I’ve used them personally, and I can’t say enough good things about John Lane and his tax sale lists site, and if you decide buying/bidding at tax sale is best for you, I recommend no one higher.
However…
Quite by accident I stumbled on a better way to invest in tax sale property. The drawback of going to these sales is that you have so much competition that it’s hard to get any really stellar deals. Properties, especially desireable ones, are often bid up to near retail value, which poses two problems: one, if you are trying to acquire property, deals where you make a lot of money will be few and far between, and two, if you are trying to bid on liens, and you encounter the occasion where an owner doesn’t pay you off and you end up with a DEED to the property when you were just looking for interest, you may end up with a property you paid almost retail value for that you don’t really want.
I’ve got a better way… I call it “deedgrabbing.” Basically, we contact owners of tax delinquent properties just before the property is about to be lost- for tax deeds, just before the sale, and for tax liens, just before the property is about to be lost to the lienholder. Most properties are free and clear at this point, since mortgage companies have bailed out the properties that had mortgages. And, most owners are not only dying to sell their properties for pennies on the dollar to avoid losing everything at the sale or to the lienholder- they are overjoyed to hear from us. And best of all- this method is still a well-kept secret- and very few people are doing it. There are so many owners to contact, you couldn’t exhaust your list in most areas if you tried!
Want to learn the secrets of deedgrabbing? Go to deedgrabber.info.
Olliver Kennedy is a successful entrepreneur and real estate expert.
[tags]John Lane, taxsalelist.com, taxlien, rick dawson deed grabber, tax sales, tax deed sales[/tags]
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