WHAT’S YOUR TAX SALE MOTIVATION?

by Gilbert Bennett, Proprietor
GBENNETT 3 INVESTMENTS LLC
www.gbennett3.com

My Tax Lien Sale Background

I’ve been investing in Tax Lien Sales in New Orleans for 3 years now. I’ve purchased different types of Tax Liens; Tax Liens on occupied residential property, Tax Liens on office condos, Tax Liens on vacant commercial property, and Tax Liens on blighted abandoned residential property. I’ve studied the Louisiana Tax Lien Statutes; I’ve spoken and networked with many other Tax Lien investors and multiple lawyers who handle the title work necessary to quiet a Tax Lien Title. And I’ve conveyed all of this to let you know the following: before deciding on investing in a Tax Lien Sale you must decide on a tax lien strategy.

Tax Lien Sale Strategy

Over the past 2 months, The City of New Orleans has held 2 online tax sales; leading up to these sales, my website started getting more hits, and I started getting more calls and emails from people with questions about how they should go about investing in the tax liens; questions like…what would you do? My answers were really quite consistent regardless of who I was speaking; You need to have a strategy in place to help you accomplish your goal, and to develop that strategy, you need to have a Goal or a Motivation for investing in mind. I’ve dealt with investors in the past who want to sell liens that are matured, but they aren?’ interested in actually taking title; they just want the interest and penalties they were entitled to through the sale; they were looking for a return. And I’ve dealt with lots of frustrated investors who are unhappy because all of their beautiful properties they thought they’d acquire through the liens have been redeemed before the redemption period expires. Once I find out more from these investors, I understand why they weren’t investing thoughtfully; they weren’t strategizing to accomplish their goals. Continue reading →