How much money you need to invest in tax liens depends on where you live, where you want to invest and what your goals are. It might be more than you think. Listed to this audio that I made for to find out more.
Some of the changes from 2020 will remain in effect this year. Although a lot of these tax deed sales have been online before last year, they were also conducted as live auctions. This year, as in 2020, the auctions will be online only with no live component, and even some counties who have not had their tax sales online before 2020 will be online this year.
Some of the Michigan counties make it very easy for investors to bid online. They post the property information, along with pictures for each parcel in the sale on the online web site. A few counties give descriptions of the properties in the sale, with the condition of the property and whether it is occupied or vacant.
Most of these tax sales will open for online registration in July. The sales will conclude from August 2 this year through September 3, according to which section of the state they are in. You can find a calendar with the county sales listed on www.tax-sale.info. You’ll also find all the information you need to register and bid at the auction.
You can register to participate in the auction for free, but you must use a credit card to put up a deposit in order to bid. Your card will not be charged unless you are the winning bidder for one of the properties in the auction.
What you need to remember if you’re bidding at this sale for the first time is that many of these properties have been vacant for a long time before they’re sold in a tax sale. They are distressed properties. Some of them have been trashed by the former occupants. And if you win a bid on a property that is occupied, it’s up to you to evict the occupants! Even if the house looks like it’s in good shape, there’s only so much you can tell from pictures. If the house has been vacant through the winter, it’s likely to have water damage and broken pipes, and will need a lot of plumbing repair and a new water heater.
You’ll also want to be particular about where you buy. There are hot and cold markets in Michigan. Some markets are very hot, and may be very competitive. Cold markets will be less competitive, but property will be tougher to sell there. So check out the areas before you bid!
Last year I hosted a 2 hour live virtual workshop on the Michigan Tax Deed Sales. In this workshop, I demonstrated how to get all the information you need to participate in the Michigan tax sales. I let you know how to find out where and when these tax sales take place, which are the better counties to invest in, and what you need to watch out for. You can purchase the recorded workshop which includes the recording of the live training, a workbook, and a copy of the slides for the workshop, plus a due diligence checklist just for the Michigan tax sales! And registration for the workshop includes a one month trial in the Tax Lien Profits Accelerator™.
Find out more about the Michigan Online Deed Sales 2020 Workshop at https://www.taxlienlady.com/michigan-online-tax-sales-2020-virtual-workshop-2/
There is no shortage of tax sales this summer! Last year some tax sales were cancelled or postponed due to COVID-19, but this year they are going ahead as usual, except that many of them are online….
Last year even some online tax lien auctions were postponed because county offices were closed. Some tax sales that would have happened last spring were postponed until summer. And because they were held later last year, a couple of these sales were held over this year as well. Maryland tax sales are usually over by now, but this year there are still a couple of counties that will have an online tax sale in August and September. New Jersey, and Louisiana, also have tax lien sales both online and live in the coming weeks.
There are plenty of tax sales coming up in Kentucky from now through October. The state of Montana has live tax sales throughout August into the first week and half of September. Wyoming tax sales have started and will also continue through the beginning of September.
Three Rhode Island municipalities have tax sales in August, and they each use a different bidding procedure. One of these auctions are online. Two Vermont municipalities have tax sales in August and both of these auctions are live. Mississippi and Missouri have their tax sales in August. In the past there were a few Mississippi counties that had online tax sales but this year most of them are online. And 3 of the Missouri county tax sales will be held online this year as well.
There are a couple of counties in California that have online tax deed sales this summer. There are a quite a few Florida tax deed sales coming up in July and August and many of them are online. Some of these counties may have tax sales as often as once a week! There are a handful of county tax sales coming up in New York from now through September and a couple of them are online. The state of Wisconsin also has some counties that have sealed bid or online tax sales this month, but they typically do not have many properties in their tax sales. Sometimes there are only 1 or 2 properties in these Wisconsin tax sales.
There are a few Louisiana parishes that have online tax deed sales in August, and a handful that have live tax sales – all on August 4. There are Ohio county tax deed sales from now until the beginning of September and a handful of those tax sales are online, although most of them are live. Franklin City and 3 Virginia counties will have tax deed sales this month.
There are plenty of live tax deed sales coming in Arkansas in July and August. The state of Idaho has a hand full of tax sales coming up from now through August. Illinois is a tax lien state, but they also have tax deed sales in July and August and at least one of them is online. Three municipalities in Massachusetts have tax sales coming up but like the state of Wisconsin they typically do not have much available in these tax sales, sometimes only 1 property. Unlike Wisconsin, they do not have any tax sales online.
My favorite state for online tax deed auctions is Michigan and this is the season for Michigan tax sales. Almost all of their tax sales are in August. Esmerelda County Nevada has a live tax deed sale early in August. There are quite a few North Carolina counties with tax sales from now through September. But only counties that have larger cities have more than a handful of properties in their tax sales. There are also a few counties in my state – Pennsylvania, that have deed sales coming up and thanks to the COVID pandemic, some of them are now online. Some of the PA counties have combined their tax sales with the Sheriff sales and they are held on Bid4Assets.com.
Delaware has only 3 counties and they all have a tax sale in July. There are a few counties in Tennessee that have tax sales this summer, and now some of them are online. Some counties in Georgia and Texas have tax sales every month, on the first Tuesday of the month. Only one GA county and a handful of TX counties have their redeemable deed auctions online. Some Connecticut municipalities have redeemable deed sales coming up this summer. All of these sales are live. The city of Philadelphia has an online redeemable deed sale in July.
Where are you spending your vacation this summer? If you’re going to be in one of these states, why not look into the tax sales?
Need help getting ready for a tax deed sale? Check out the Online Tax Deed Sales home study course – updated for 2020 for only $397!
My good friend and real estate investing mentor Mark Jackson, (MJ), is hosting his next Go Higher Mastermind in San Juan Puerto Rico July 22-24. I’ll be there because I’ve been wanting to visit Puerto Rico and this will be my 3rd Go Higher Mastermind in the last 5 years. And because MJ’s mastermind events are the best for learning the strategies that work in the current real estate market, and connecting and networking with powerful people that can help you invest profitably in real estate.
You don’t have to leave home and get on a plane to meet me at the Go Higher Mastermind in Puerto Rico, because it’s also virtual! I’ll be there in person, and so will a couple of my students, fellow investors, MJ, and his team in Puerto Rico. But you can attend virtually!
Day one is all about creating wealth with valuation-based real estate. In other words, you make your profit when you buy, not when you sell. You’ll learn how to locate deals virtually and how to avoid the biggest mistake that new investors make. You’ll learn how to pick the right market and get access to the tools you need to easily evaluate deals.
Day two is all about keeping your wealth. You’ll learn about asset protection as well as tax strategies that let you keep more of the money you make. On this day you’ll meet the attorneys on M.J.’s team in Puerto Rico.
Day Three is for networking and having fun. Those of us who are in Puerto Rico will be going on a Catamaran Cruise for the day.
Find out more about what we’ll be doing at this mastermind in Puerto Rico on Tax Lien Lady’s® next Wealth Building Webinar with Mark Jackson (MJ) on Wednesday, July 14th at 7:30pm Eastern time. Get the details and register for the free live webinar at www.TaxLienLady.com/live-free-webinar-registration
Already know you want to attend the mastermind? Don’t wait, register today at https://www.investorcomps.com/virtual/
Don’t lose money on your tax lien investments! Tax lien and tax deed investing, can be very profitable. Tax Lien investing is a way that you can save your money at interest rates that you just can’t get in a bank CD anymore, or even with savings bonds. And it’s more secure than the stock market because it’s not a speculative investment. There is real property backing it up. But did you know that you can lose money on your tax lien or tax deed if…
There are different reasons that people come to me for mentoring or coaching to invest in tax liens or tax deeds. Some just don’t know how to get started and want to learn the ropes and do it correctly. Others want to find the best places to invest and have access to the tools and resources that help them pick the right properties to bid on without putting in a lot of time and effort. And others come to me so that they can avoid costly mistakes. Mistakes like not following the state specific responsibilities of the tax lien or tax deed buyer after they purchase a tax lien or tax deed.
Protecting your investment after you purchase a tax lien or tax deed is the topic of our next tax lien investing workshop on Saturday, June 26 from 1-3pm Eastern time. Our workshops are live virtual trainings conducted via Zoom. Workshop attendees will get the opportunity to ask questions about the specific procedures that must be followed in the state or states that they invest in. You’ll learn exactly what you have to do to protect your profit and maximize your return on your tax lien or tax deed after you purchase.
This workshop is for investors who have already purchased their first liens or deeds, as well as for newbies who are just getting started and haven’t actually purchased anything yet. By learning what is required of you after you buy a lien or deed, you’ll know the what the real cost of investing is and what your profit will be based on your total investment, not just what you have to pay at the tax sale.
The workshop will include a workbook and handout that you can print out to have with you during the training. It will be recorded and the recording and all materials will be provided on a training website to all registrants. Get all the details and register at https://taxlienlady.com/protect-your-profit.
Need Extra Help?
Follow Us!