Investing in Tax Lien Certificates and Tax Deeds – How To Find the Right Sales
Click here and sign up for one of our educational Tax Sale webinars
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).
A lot of people want to know “How do I find a property I want to bid on?”
This is a subject we spend over three hours on in our workshop so I will just cover the main points in this video.
The process is called “due diligence” which is a fancy term for doing your homework.
It is a two step process.
The first step of due diligence is to eliminate everything you have no interest in…you do not want to spend any time finding out about properties you don’t want to buy. To do this you need your tax sale list to be in either excel or some other software that allows you to sort the list (you can’t do that with a newspaper).
The typical list may have 4,000 properties on it but only 250 interest you. You have to cut down that list quickly. We show you how to cut a 5,000 property list to just 300 properties in less than 25 minutes in our workshop…this is critical.
The second step is to analyze the properties you are interested in and eliminate those that don’t meet your criteria.
There are a number of mathematical clues you can use: lien to value ratio, improved value to total value as well as standard criteria such as square footage, market value, bedrooms, bathrooms, zoning, zip code and finally — eyeball. Looking at the property is important, but it can be done online. Remember, it is the neighborhood that is most important, not the structure itself.
To sum it all up.
The Due Diligence process is a two step process:
Step One — eliminate everything you don’t care about, you can’t afford to spend time on those that don’t interest you.
Step Two — Analyze those you do care about and eliminate those that do not meet your criteria.
As I said before, this is a subject we spend over three hours on in our workshop — it is important to learn all the details of due diligence. Tax Sales are very profitable as long as you do proper due diligence.
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 or click the link below in the description.
How To Find A Tax Lien – http://www.youtube.com/watch?v=4xw8KTyJ0PI&feature=youtu.be