Monday, December 2, 2013

Advanced Strategies for Accelerating your Success

This is the 8th blog on Tax Liens and Tax Deeds and the final one in this set. If you want to accelerate the process I would chose dual states. The states that are redeemable deed states but make sure it is only 2 states to start out. To begin with I want to say that there are things called over the counter Tax Lien sales and they are called this because most counties have around 30,000 Tax Lien or Deeds they offer and only 15,000 get sold. The other 15,000 which we are using just for ease of use numbers go back to the county for you to buy over the counter Tax Liens. You cab go to any county clerks office and do this well almost any county some counties do things totally different. Lets put it this way all the counties are different and all the states have different interest rates. The county will tell you were they publish the list.

There is another type called Commissioner Sale this is when inventory that does not get purchased goes back into county then they have a second sale which iOS an auction and redemption period gets reduced to 4 months.

  • Understand the market
  • Hire a local real estate attorney
  •  1500 Dollars per property to handle everything
Then there is Redeemable Deed states Texas is most famous for this type of Deed.
  • Send AP form letters to the counties
  • 254 Counties in just Texas
  • Flat penalty interest rate of 25% within 6 month redemption period and it is not your primary home
  • If it is primary it is 25% first year and 50% second year
  • During redemption period you can collect rent and improve property if you want
  • Well you are waiting you can make money
One more example Georgia is a Redeemable Deed State
  • 159 Counties
  • 20% Flat rate
  • 2 year redemption period - You cannot take title like you can in Texas
  • Georgia has a tax sale once a month
  • Assume Title
Well that is my conclusion to this chapter and tomorrow maybe we will talk about Tax Deeds or tell why Tax Lien investment is so much safer than anything else for return on your money.

Calvin

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