Concept 6 - Know the Ground Rules and Pay Attention!

The 10 Essential Concepts Behind DeedGrabbing:

Concept 6

Now we have a better idea of what we're looking for - equity (or "EV" - our chances of profiting from a deal with minimal or no investment). And we're not going to tamper with that equity by landlording, rehabbing, or otherwise fiddling with the deal. After all, EV is not really there if we have to do anything additional to cash out of our property right now.

Sure, we might spend a couple hundred bucks getting a crew to clean the junk out of a house we just bought, or have the lawn mowed. But we're going to sell our toolbox and make money with our pen and the phone.

We also realize that tax-delinquent property owners are the rare group of real estate owners who are the most likely to be indifferent, motivated, and have large equities.

Now, if you made a promise to yourself to commit to this course of action, and be determined to succeed, I'm going to ask you to do a little bit of work. And depending on your disposition, you may find it enjoyable, a royal pain, or somewhere in the middle. It needs to be done regardless.

I need you to become familiar with your state's tax-delinquent property process. I want you to understand what happens to a property from the moment it becomes delinquent, until the time it is lost to foreclosure.

Thus, the 6th DeedGrabber Essential Concept -

"Understand the Tax Sale System for Your State".

Realize that in many cases, the people you send letters to, or contact by phone, will just be learning of their tax situation from you (especially when you work your returned mail). So you really owe it to yourself to know what you're talking about when you contact these owners.

How long will this take you? Maybe a couple nice quiet evenings of study. That's it. I'm not asking you to become an attorney or anything. If you're going to commit to becoming a successful investor, don't take a shortcut here.

Maybe you'll even discover that owners who lose their property to tax sale could be eligible to claim a substantial amount of cash. That's useful to know, and can be a huge profit source for us. I'll let you in on that profit source very soon.

There are several ways you can get this knowledge:

-Visit several counties' tax collector's websites in your state. Look for an FAQ or explanation of the delinquent tax process. These sites are where you can often get a plain-english explanation to get you started. Just get the names of some counties in your state and Google "{county name} {state name} tax collector". If this doesn't work try "treasurer" instead of "tax collector".

-Google "{state name} code" to find your state's laws online. Look for the "Revenue" or "Taxation" section and find the property tax delinquency section.

-Visit TaxSale.net (www.taxsale.net) and choose any state. Here I give a summary of the tax sale system for every state.

I've already done the hard work for all 50 states. You can get the DeedGrabber manual for any state in the union (plus D.C.) and get the inside scoop on obtaining tax-delinquent and tax sale lists for any state. Plus learn the tax sale system from start to finish. Scouting several states? Get the 3-pack at a special price.
Sincerely,


Rick Dawson
The DeedGrabber

Everything You Need to Know to Profit From
Tax Property Before the Sale -

The DeedGrabber Ebook

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{ 4 comments… read them below or add one }

silvino Camacho September 21, 2012 at 1:50 pm

Hey Rick.
Silvino Camacho here in CA, thank you for all your info. I really appreciated I want to buy the Deed Grabber study course. But let me if I ca n send you a money order to your address in Indiana. Thanks.

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Veronica December 14, 2012 at 2:32 am

Hi Rick: I have enjoyed your information on your website. My question is: I purchased a mobile home from the tax sale, last year, it was not redeemed, so now I have a deed. There are gun totting folks in the mobile home. What is my next step, the sheriff? Are similar scenarios and what to do with each in your book?

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Rick Dawson January 5, 2013 at 12:07 am

Yes, usually the next step is to pretty much follow the same process as an eviction. You shouldn't have to do any of the dirty work as far as the gun-toting part.

I only buy with the owner's cooperation before the sale so I have limited experience with this outside being a landlord, and never really had anyone who REALLY refused to leave.

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John Cochran April 10, 2013 at 1:03 am

Something I don't understand Rick, is this: you try to buy deeded property or obtain lien certificates in hope of eventually owning the property. It's expensive getting a title search, but unless you know the property has a clear title you could be investing in something that is eat up with liens or contested title. It looks like an investor has to make sure about the title before bidding or buying, but just how do you go about finding the property's status before you jump in with money?

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