How much money do you really need to get started with tax lien investing? This is a question that I get all the time, so I decided to do a quick tip video to give you my answer. Click on the 2 and half minute video below to get my answer and find out if you’re ready to get started with tax lien investing!
Be Prepared To Bid – Did you ever go to a tax sale not fully prepared to bid? Recently I went to a tax sale and was able to purchase a small lien at 7%. I could have purchased one or two more liens if I had been more prepared to bid. I only brought $500 with me, thinking that the sale would be so competitive I wouldn’t get the chance to bid. And that if I did get the opportunity to win more than one lien, I would have time to go to the bank and get the money. I was wrong on both counts.
Although there was competition at this tax sale, it wasn’t as stiff as the tax sales that I had been to previously. Perhaps because this tax sale was at a very out of the way town and there were no large liens for sale, there were less bidders at this sale. Had I brought more money with me and not relied on the tax collector giving investors time to go to the bank afterward I may have been able to get a couple more liens. I used to say that part of the battle is just showing up but now I know that is not entirely the case. It’s not just showing up, but showing up prepared to bid and take advantage of any opportunity that may present itself.
Do you have an experience of going to a tax sale where you wish you were more prepared? If so share it in the comments below.
Right now there are tax lien sales going on in three different states where premium is bid for tax liens. “What is premium,” You might ask, since at many tax lien sales it’s the interest rate that is bid down at the tax sale. Premium or “over-bid” as it is referred to in some states is an amount over and above the amount of the tax lien that is bid in order to get the lien. In this case it is the investor who is willing to pay the most amount of money for the tax lien that is awarded the bid.
The three states that have tax liens this time of year in which premium is bid are Colorado, Indiana, and New Jersey. Each of these states treat the premium bid differently and it’s very important to know what happens to the premium you bid before you bid at the tax sale in any of these states. Each of these states also have at least a few counties or municipalities that conduct online tax sales. Here is a short summary of what happens to the over-bid or premium for tax liens in each of these states. Continue reading
Here’s a quick 2 minute video tip with a couple of websites for the online tax lien sales.
But what online tax sales are coming up now?
Which ones are worth the time and effort for you to bid at?
For more information about the online tax sales that are coming up now and which ones I think are worth bidding at and which are not (and why) listen to the recording of my last free teleseminar at http://www.audioacrobat.com/play/WzBhwKLK.
Our next free tax lien investing teleseminar is Wednesday November 5 at 8:30pm Eastern Daylight Time. I’ll be talking about the importance of due diligence and what you need to know about tax sale properties before you bid at the tax sale. And I’ll be answering YOUR questions, so register now and let me know your question about doing due diligence for tax sales at https://www1.gotomeeting.com/register/714464632. You can listen to the call through your phone or your computer. Don’t worry if you can’t make the live call, there will be a recording, so register and ask your question anyway. You’ll here the answer on the replay!
Because I am of Italian decent, I had to do something very special for Columbus Day!
My father’s parents and my mother’s grandparents both came to the United States from Italy. My husband also shares my heritage. Both his maternal and fraternal grandparents came from Italy. To celebrate Columbus Day this year, I’ve decided to have a 2 for 1 sale on some of my best selling programs. Take your pick, but hurry the sale is from today through midnight Eastern Time Columbus Day only!
Here’s how this special works:
Enroll in the “Tax Lien Profits Group” for 1 year, and get the Build Your Profitable Tax Lien Portfolio home study program for free….
If you enroll in a yearly membership (cost of $955) before midnight on Columbus day and I’ll also give you my 8 lesson “Build Your Profitable Tax Lien Portfolio” program – a $997 value, for free! Just go to www. ProfitableTaxLienPortfolio.com to find out more about the program, but don’t buy it! Instead go to www.TaxLienLady.com/MembershipMain.htm, scroll down to the bottom of the page and get the yearly membership for less than the price of home study program, then get the home study program for free! And don’t forget, you also get 3 of my other courses when you become a yearly member – Buying Tax Liens Online, Online Tax Deed Sales and Tracking Your Liens. This is perfect timing for the Colorado online tax liens sales that are coming up this month and next.
Tax Lien Investing Basics and Tax Lien Investing Secrets…
Get my Tax Lien Investing Basics home study course for $197 and I’ll give you my Tax Lien Investing Secrets II home study course (another $197) for free. Just go to www.TaxLienInvestingBasics.com to order.
2 Home Study Courses for Only $97…
Buy the Online Tax Deed Sales home study course and I’ll give you Tax Foreclosure Fortunes for free! You can order the Online Tax Sales program at www.OnlineTaxDeeds.com.
Just order anytime from now until midnight Columbus Day (Eastern Time) and send me an email letting me know of your order and I will send you your free course for the Columbus Day 2 for 1 offer!
Happy Columbus Day!