Investing For Success Biggest Challenge

What is your biggest challenge when it comes to investing for success and building your wealth? And how can I best help you to invest profitably in tax liens or tax deeds?

I made this video for you yesterday morning when I was at a 2 day mastermind for entrepreneurs who want to change the world by helping people!! I was there to learn how I can serve my audience – and that means you, better!

My goal is to help you get the results you want when it comes to investing in tax liens. And I’m planning a 2nd Annual Investing For Success Wealth Building Virtual Conference.

So let me know what it is that you want to learn about building your wealth and investing. I’ve already got a couple of experts lined up for you to bring you some excellent investing opportunities. But I want to hear from you…

What is that you want to learn about building your wealth and Investing For Success?

Leave a comment and let me know what your goal is for tax lien or tax deed investing in 2022 and what is one thing that would help you the most to meet your goal!

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Proxy vs. Direct Bidding in the Online Tax Sales

bidding in the online tax salesAre you bidding in the online tax sales?

Whether you’re participating in tax lien sales, tax deed or redeemable deed auctions online, you’ve got to know what you are bidding. It’s important to know 2 things…

  1. If you are bidding premium, does your bid amount include the starting bid or face amount of the lien, or is it a separate amount, and…
  2. Is your bid a proxy bid or a direct bid

What is a Proxy Bid?

When you are bidding in the online tax sales, it’s a little different than bidding in person. Some online bidding platforms will let you see the current highest bid, and some will not. It’s hard to know what to bid when you can’t see the other bids. Some bidding platforms will let you put in a proxy bid instead of a direct bid. What’s the difference? In a direct bid situation, if you are the winning bidder you must pay the amount that you bid. In a proxy bidding situation, you only pay one bidding increment above the next highest bidder.

Here’s an Example…

Consider a $1000 lien in a tax sale where premium is bid as a separate amount. Let’s say you bid $10,000 to get the lien. You can’t see the other bids until the tax sale is over and this is a direct bid situation. After you’ve won the bid at $10,000 you can see all the other bids. 4 other bids on this liens, they were at $1100, $1500, $5000, and $5500. Since you were the highest bidder at $10,000 and now you’ll pay $11,000 to get the lien, (The lien amount plus the premium you bid).

For this same scenario in a proxy bid situation, if the bidding was in $100 increments, you are still the winning bidder. But now you win the bid at $100 more than the next highest bidder. In this case $5,600. So now you pay only $6,600 for the lien.

So you can see why it’s important to know if your bid is a proxy bid or a direct bid when you’re bidding in the online tax sales!

Need help determining which tax sales are right for you? Or researching tax sale properties and deciding which properties to bid on and how much to bid? Tax Lien Profits Accelerator™ members get tools and resources and coaching from me each month. Find out more about the benefits of subscribing at https://TaxLienLady.com/Membership.

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Buying Tax Liens Online Workshop 2021

We’re getting ready for our “Buying Tax Liens Online” Workshop for 2021. During this 2 hour training you’ll find out which states, strategies, and bidding procedures work best in 2021! And get the tools, resources, and knowledge you need to be a successful tax or tax deed investor…

During this training I’ll let you know where and when these tax sales are taking place, how you can register, and bid at these tax lien and redeemable deed auctions, and which tax sales are the easiest and most profitable to participate in.

Join me on Wednesday, November 3rd from 7-9pm EST and get the recording, workbook, and resource materials for this workshop. The workshop will be recorded and added to the Buying Tax Liens Online course – a $497 training. But you can still purchase the 2021 update for a limited time for only $197

Find out more at:
https://taxlienlady.com/buying-tax-liens-online-2021

CLICK HERE TO REGISTER NOW 

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Buying Tax Liens Online – My “5 STEPS” System

buying tax liens online 5 steps

Here are my 5 steps to buying tax liens online. How you follow out these steps is just a little different for the online tax sales. I like to use the acronym “STEPS” to make these 5 Steps for buying tax liens online easy for you to remember…

5 STEPS To Buying Tax Liens Online:

  1. Select where you will invest
  2. Track down the tax sale information
  3. Evaluate the tax sale properties
  4. Prepare to bid at the sale
  5. Show up and bid!

As I mentioned earlier these are the same five steps that you would use to get ready for any tax sale whether it is an online or live tax sale. When participating in the online tax liens sales, however, you may to go about these steps a little differently. Let’s take them one by one and go over what it is you need to do for each step.

Step 1: Select Where You Will Invest

If you want to invest in tax liens online, you are limited to the states that have online tax sales. Not every state in the US that sells tax liens has online auctions. When I first taught how to invest in tax liens online, there were only five states that had online tax lien auctions, only a few years later there were seven – Arizona, Colorado, Florida, Indiana, Maryland, Louisiana and Nebraska. Then in 2012, New Jersey, Iowa, Mississippi, and Missouri were added the list of states with online tax lien sales. And Tennessee and Texas added counties with online redeemable deed sales.

In the spring of 2020, with the entire U.S. under lock down due to the COVID-19 pandemic, counties in even more states began conducting their tax lien and redeemable deed sales online. Alabama and Georgia were added to the list of states with at least one county with online tax sales. These online tax sales are very different in each state, but they do have a few things in common, which brings us to step 2.

Step 2: Track Down The Tax Sale Information

This part is easy for the online tax sales because most, if not all, of the information you need is usually provided on the online bidding web site. To find out where to go you can call the county tax collector or treasurer or you can go to one of the online tax lien investing platforms listed below that conduct many of the online tax lien sales.

Platforms For Online Tax Lien Sales:

Step 3: Evaluate The Tax Sale Properties

Most of the counties with online tax sales make it easy for you to register and bid online. The hardest part of buying tax liens online is doing your due diligence for the tax sale properties. Unless you purchase a tax sale list from a tax sale list provider, or in some cases from the county, you don’t always get to see the addresses of the properties that are in the tax sale.

Instead, the properties are listed individually or in batches by an id number and you have to click on the property number to get the rest of the information on the property. Some counties do provide a lot of information about the properties on the tax sale web site, but you must click on each property individually to get the information. They might also provide a downloadable excel file with all the properties listed, but this list has very little information about the property.

Step 4: Prepare To Bid At The Tax Sale

You need to register for online tax sales days or in some counties, weeks ahead of the actual sale. You register for the tax sale and bid on the properties online. For some counties that are newer to conducting online tax sales, you may have to register with the online platform and register with the county.

For tax lien sales, you are not actually bidding on the property, but on a tax lien certificate that is issued on the property. The tax lien certificate or tax sale certificate gives the certificate holder first lien on the property and the ability to foreclose on the property if the lien is not satisfied by the state specified redemption period.

These tax sales usually require a deposit, and some of them have a non-refundable registration fee. Payment for any successful bids is required within a day or two of the close of the tax sale for counties that use wire transfers as the method of payment. For counties that use ACH Debit as the method of payment for tax liens, you usually must pay the day of the close of the tax sale. For these tax sales, you agree beforehand to allow the county treasurer to debit your account for the tax liens that you purchase.

Step 5: Show Up And Bid!

Bidding is easy for online tax sales because all you have to do is put your bids into your computer and, unlike the live tax sales, you have plenty of time to do it. The online tax sale web sites are usually open for bidding at least a couple of weeks before the tax sale is over, giving you plenty of time to bid as long as you register and get your deposit in on time. You do have to keep track of the time though, since the properties are usually separated into batches and a batch will close every hour – you must get your bid in before the batch closing time.

A few tax lien and redeemable deed auction have real time bidding, where you can bid online just as you would at the live sale. But thankfully, most do not have real time bidding and do not offer just one parcel at a time – or these sales would take quite a long time. Most will close the bidding on batches of parcels at a given time and do not publish bids until the end of the tax sale.

Many of the online platforms allow you to download an excel file of the tax sale properties and upload your bids all at once instead of putting them in individually. The important thing is to double check your bids before submitting them. If you bid on a property by mistake and you are the successful bidder, there is no taking it back. You will have to purchase that lien or forfeit any successful bids and your deposit and be barred from future tax sales. So just as with live tax sales, it’s important not to have any distractions while you’re bidding.

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Bidding Premium For Tax Liens – What You Need To Know

bidding premium for tax liens

Are you bidding premium for tax liens?

Right now there are online tax lien sales going on in three different states where premium is bid for tax liens.

“What is premium,” You might ask. 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.

That is the topic of this week’s Investing For Success Saturday audio.

And in this 6 minute audio you’ll also discover which 3 tax lien states that have online tax sales going on now use the premium bidding method, and why it’s very important to know what happens to the premium you bid before you bid premium for tax liens in any of these states.

You’ll also find out what we’ll be covering in the 3 Day Challenge, October 20-23. Here’s the link to register for the free 3-day challenge:  https://taxlienlady.com/3-day-challenge

Listen to the audio below…

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