DeedGrabber Mini Course Day 5

"Getting Paid"

I hope you've learned a lot the last few days - it was as much as I could cram into a short mini-course. But we're not quite done yet.

Over the last four days, we went over the "DeedGrabbing" process:

1. Read our state's tax sale laws and get an idea how they work - either lien or deed.

2. Research the next tax deed sale for owners about to lose their property, or look at past tax lien sales to see who is almost to their redemption deadline. Eliminate those who have paid.

3. Get a list of owners about to lose their property

4. Mail to, and call the owners on your list.

5. Determine their situation, and make an appropriate proposal, in which your cash outlay may be as low as $50.

6. Redeem the property from sale, and/or try to sell prior to the sale/deadline.

If you have some real estate experience, you have now made a bargain purchase and probably have some idea what you would like to do with the property (rehab, sell, rent, etc). Don't forget, in some areas vacant land is also an excellent vehicle for making money.

Sell With A Realtor in Most Cases

Personally, I find I make the most money overall by selling the property as-is to another investor. At most maybe I'll clean out the property and the yard. Always list on the MLS for best results - investors shop there too.

This way I spend more time making deals, where the money is made, and get more deals done, even if the average deal makes less.

Here are some of the finer points about why this process works so well, that you may want to consider:

-The properties you acquire through "DeedGrabbing" will usually be free and clear of mortgages. This is because a mortgage holder will usually have redeemed the property from the sale to keep their interest before it got this far along.

-Most investors are focused on mortgage foreclosure investing. For some reason most pass up tax sale foreclosure investing. There is MUCH less competition in most markets.

-You are more likely to find "Don't Wanters" with tax sale property. A tax sale foreclosure almost never goes on the owner's credit, so they're less likely to worry about taking care of it if they don't want the property.

-You don't have to waste time doing a lot of research. The tax sale buyers have already done that (if you're in a lien state) because they have bid on the lien, indicating they would like to own the property. Only do heavy research on properties you're about to pay a significant amount for ($500+)

-You'll find a very high number of irresponsible people who have inherited a free and clear property who cannot even make the tax payments on it. This will be a major source of your deals.

-Sometimes you'll run into a rentable property with a lot of non-mortgage liens against it. If you can get the deed for cheap and the tax amount due is not very high, just rent it out with the liens intact. Of course you will have to redeem the taxes immediately, but you can usually make your initial investment back in a number of months. Eventually the liens will drop off.

-Don't expect to be a tax lien buyer's favorite person - you'll be costing them a lot of juicy properties that they thought they were so close to getting for pennies!

If you like what you've seen, get the details with my ebook, "Go Ahead, Be a DeedGrabber!".

Here's what you'll discover:

1. Details on how to research your state tax sale statute, with examples.

2. Making or obtaining your list of property owners to contact

3. Enhancing your list with updated addresses and phone numbers

4. Sending mail to owners (including a way to do it over the
internet in minutes)

5. Making a deal with the owner

6. Contacting owners by phone or in person

7. Structuring your offers (including a copy of the offer I use)

8. Researching properties before going through with a purchase, including title

9. 5 case studies where I explain my errors and victories

10. Using mobile notaries to sign up owners

11. Selling your properties

Get it now!

Sincerely,


Rick Dawson
The DeedGrabber

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

The DeedGrabber Ebook

DeedGrabber Ebook

Yes, I'd like to get the DeedGrabber information NOW!

Choose your version (click one):

Ebook Digital Download: "Go Ahead, Be a DeedGrabber" in digital format for immediate download. Takes you step-by-step through the process of DeedGrabbing, from getting your list of owners, to contacting the owners, what to say to them, and how to research the property for value and title issues before you buy. Then, how to sell the properties you get for big paydays.

DeedGrabber Study Course: Immediate download of the ebook PLUS the ebook in written format shipped to you free by UPS. Additional materials include Legal Forms CD which itself can save you thousands of dollars developing your paperwork. Also includes seminar DVD, Quick Start CD, and Introduction to DeedGrabbing CD with Jackie Lange of CREWealth.com.

 

{ 20 comments… read them below or add one }

joe jackson July 13, 2011 at 11:52 am

i`m interested in getting more info about how the tax lien sales work, after the sale the free and clear titles with no unexpected surprises...........thanks, joe jackson

Reply

Rick Dawson July 14, 2011 at 4:57 am

Sure, make sure to subscribe to my five day mini-course to the right.

There are a lot of surprises with tax lien sales - legal fees (reimbursed, but still additional capital), waiting many months or years, and not receiving any property from your purchases.

Tax lien investing requires education and IS NOT the road to easy property acquisition. It can be a great investment of your money.

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kristy August 2, 2011 at 11:47 am

I was just wondering what the best way to go about doing tax deed grabbing when the 2 counties i am closest to (summit and portage county ohio), they have tax deed and tax lien sales every week. How can i contact the owner in such a short period of time? The auctions are every friday. Thank you. Kristy

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Rick Dawson August 10, 2011 at 5:58 pm

I would have to assume that they put out the schedule/list of properties a lot more in advance than one week, correct? That is the list you'll go from.

If you only have one week the way things are set up, then you'll need to get a complete listing from the county of ALL delinquent properties. Then work on the ones that are the most severely delinquent. Also find out how they determine which properties will be on a particular weeks' list. There must be a process you can tap into sooner, to see what's headed for the sale perhaps 1 month from now.

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Holly September 25, 2011 at 1:20 am

Hello, I am very interested in your tax sale surplus information. I went into my state gov. website and tried to find where overages are listed as you suggested. I looked of specific counties and where they might be listing the overages. I see that the various counties have huge amounts of money, especially in the large counties, but I could not find a specific place where the overages were listed...I live in Utah. Could you give me a hint where I could find those stats and names?

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Rick Dawson October 1, 2011 at 2:26 pm

Most state government websites do not have overage listings. Overage listings are on the county level and most of the time are not listed online.

This is an advantage to working this particular type of funds; the claimants usually can't find the funds on their own and go around you.

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Jean luc January 20, 2012 at 7:49 am

Hi Rick i have asked that question before but never go i reply. Is your approach something we can do in Canada. As any one done or doing it? Please let me know as i would ike to try this in canada thanks in advance for your input

Reply

Rick Dawson January 20, 2012 at 7:01 pm

I'm not sure. It would depend on whether you can get public records in your province the same way we can. How do they dispose of properties with unpaid property taxes? If it's at a tax auction, and the list comes out to the public, use this list to identify and contact the owners. If the state forecloses the property first, then offers it at a sale, you'll have to see if you can get public records of tax-delinquent properties earlier, or some kind of record of the foreclosures about to be performed.

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Jae June 8, 2012 at 1:06 pm

Dear Rick
If I found a owner occupier who couldn't pay taxes and they have a mortgage attached, If I want to buy it from him, what could be my offer to them?
Or what is my possible option?

Reply

Rick Dawson June 11, 2012 at 12:32 am

You wouldn't want to buy it from them unless their mortgage is very small, meaning they have a lot of equity. I don't recommend that beginners offer to let the owner stay in the property becuase of various laes that may be against it.

Offer them some money to move and if their mortgage is small, offer to redeem that.

We don't usually deal with owner occupants because they often want to keep the property and have a high mortgage, and there isn't much we can do for them there.

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ernie schaaf December 12, 2012 at 6:28 pm

Hi Rick,
I'm wanting to know how to get all the info
on your #4 strategy (Tax sale unclaimed funds)
I think this could be a good nitch for me.
I know how to research the tax deed auctions and get all
the info from them. I need to know what to say to home
owners how to set the deal, and how to get paid.
Please respond!!
Thanks
Ernie

Reply

Rick Dawson January 5, 2013 at 12:08 am

Hi Ernie - Get started at special-offer.hookedonoverages.com

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freddy December 25, 2013 at 8:28 pm

hey this page doesnt work . it will not take any of my e-mails to register for the course special-offer.hookedonoverages.com

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Dave Faulkner November 24, 2013 at 2:08 pm

Is it possible to get this in hard copy verses the e-book version. Thanks Dave

Reply

Rick Dawson November 25, 2013 at 11:51 pm
freddy December 17, 2013 at 5:15 am

hello would you please tell me what goes in the blank area of this part of this form . here is the part .

AND THAT, in consideration of the premises and the payment of the said money as herein
provided for, _____________ hereby ratifies and confirms the official acts and deeds of the said County
Administrator, in the aforesaid Tax Sale proceedings.

Reply

Rick Dawson December 19, 2013 at 11:51 pm

Sounds like the person signing the form, hard to say without seeing the whole thing.

Reply

freddy December 20, 2013 at 3:22 am

here is most of the form ..

DESCRIPTION OF PROPERTY: _______________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
THE UNDERSIGNED Affiant, being first duly sworn deposes and says; That her/his correct & legal
name
is _______________________________________________________& is a resident of__________________ county, residing
permanently at _________________________________________________________________________________________;
is one & the same person as ____________________________________________________________________, whose name
appears in said file as being the owner of said described real estate; who was the owner of record of said land on the date of sale
of said land, under Tax Deed Sale held pursuant to Chapter 197, Acts of 1973; and that such ownership of record was continuous
and unbroken from the date acquired title to said property, up to and including the date of aforesaid sale; and that at the date of
said sale and at the present time has the equitable and legal interest, claim and demand in and to the proceeds of said sale, after
payment of the amount necessary to pay to the certificate holder, & any and all cost, interest & expenses, now retained by the
County Administrator, in the sum of $______________________; & that it hereby makes formal demand for & request said
amount to be paid to & mail to
______________________________________________________________________________________________________
______________________________________________________________________________________________________
AND THAT, in consideration of the premises and the payment of the said money as herein
provided for, _____________ hereby ratifies and confirms the official acts and deeds of the said County
Administrator, in the aforesaid Tax Sale proceedings.
THIS AFFIANT further states that the matter, things and statements herein set forth and made,
are true, and are set forth and made with full knowledge of the force and effect thereof, as regards the civil and criminal
responsibilities arising there from; and that said statements were made after full explanation in the premises having been made to
affiant by the said County Administrator.

Reply

freddy December 25, 2013 at 8:38 pm

hello i posted the form that shows most of the info before the area that is blank and area after . so you could check it out and see if you know what they are asking for ?? please reply .

p.s. i dont think its for the ex-property owners name cause the form ask for the names at the start of the form . so what can the be asking for ? also the form is an unclaimed funds affidavit

Reply

Rick Dawson December 29, 2013 at 5:11 am

Hi Freddy, please create a helpdesk ticket at http://deedgrabber.com/helpdesk

Reply

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