DeedGrabber Mini Course Day 5
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,
Everything You Need to Know to Profit From
Tax Property Before the Sale -
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.