Proven Due Diligence when Investing in tax lien certificates and tax deeds.
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Hi, its John Lane from TaxSaleLists.com…if you do know about taxsalelists.com we are the website that has provided tax sale lists, over 10,000 a year, for the past eleven year and also provide the only tax sale training done by somebody who has been a major buyer of tax liens (over 77,000 tax sale properties acquired over the past 20 years).
This will sound silly at first…but make sure you learn it. ALWAYS KNOW WHAT YOU ARE BIDDING ON.
More money is lost by people who bought the wrong property than any other error. Why does that happen…there are a number of different reasons.
Let’s assume the address is 101 Main Street…in that county there may be five or six different Main Streets…each little town may have a Main Street.
How do you determine which 101 Main Street you are looking for? There are a couple of ways…first, if possible, get the zip code for the one you are looking for.
If that is not possible, the go to the assessor’s office and check the parcel number on a plat map so you know which town the one you are looking for is located in.
Keep in mind that street names often will be repeated within a county.
Another way to make sure is always have the assessed value for land and for improvements available when you are looking at a particular address (whether in person or online). There are a couple of reasons for this.
1. There are some places where the address they use is the “nearest” address to the property…meaning that the property does not have its own address…often because it is a vacant lot.
2. If you have the assessed values for land and improvements and the address you are looking at has a really nice house on it, but the assessed value says there is no improvement…then look for the nearest vacant lot!
To sum it all up.
There are a number of ways you can determine that the property you are looking at is the correct property. We spend over three hours in our workshop going over the due diligence procedures. It is absolutely critical that you know what a property is that you intend to bid on.
As an example, let’s assume or 101 Main Street appears three places in the county. One is a beautiful house. Another is a junk yard, and the third is vacant lot that is part swamp…don’t guess, make sure you know which is the correct property.
If you would like to learn more about tax sales, we regularly hold a free webinar about tax sales that will answer all your questions about tax sales.To register for it, just go to http://www.taxsalelists.com
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