How do you choose the right tax deed properties to bid?

Here is a 10 minute Tax Lien Investing Tip I did inside the Tax Lien Investing Success FB Group on the 5 Tips for Due Diligence on Tax Deed Properties to help you pick the right properties to bid on…

I showed how to do these 5 steps in a lot more detail on Day 2 of the Tax Sale Success Workshop on How to Participate in the Upcoming Online Tax Deed and Redeemable Tax Deed Sales.

It’s not to late to enroll in the Workshop and get lifetime access to the recordings and all resources. And join us for Day 3 coming up next Tuesday, July 25 at 4pm Eastern time.

You can still get 60% off enrollment in the workshop until 6pm Eastern on Tuesday when it goes back up to the regular price!

Get all the details and register at http://TaxSaleSuccess.com.

There is no shortage of early summertime tax sales! Here are the tax sales that you can look forward to this summer….

Summertime Tax Lien Sales

Maryland tax sales are wrapping up and there are only 4 counties left that will have their tax sales by the end of this month. New Jersey and Louisiana, also have tax sales this month and throughout the summer and many of those are online. Kentucky counties have tax sales coming up throughout the summer, but they are all live tax sales. West Virginia counties also have live tax lien sales coming up in early summer. All the Iowa tax sales are held on June 19 this year and many of them are online. The Wyoming tax sale season begins in July. Also in July is the Washington DC tax lien sale. Both the State of Wyoming and Washington DC have live tax sales.

Summertime Tax Deed Sales

There are not a lot of tax sales in the early summer on the west coast. But the east coast is loaded with them and many of those are online.

There are 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! New York counties have tax deed sales from now through September and a few of them are online.

The state of Wisconsin also has a handful of counties that have sealed bid or online tax sales this month and next. 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.

A few Louisiana parishes have online tax deed sales in July, and many of these sales are online. Some Ohio counties also have 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. There are quite a few Virginia tax sales through June and July and many of them are now online.

There are plenty of live tax deed sales coming in Arkansas from July through September. The state of Idaho has 3 counties with tax sales scheduled this summer. But each of these tax sales has only 1 or 2 properties in the auction. And they are all live. New Mexico has 4 counties with live tax sales scheduled for June.

One of my favorite states for online tax deed auctions is Michigan. Michigan tax sales will begin in late July and early August and go through to the end of the summer. There are a couple of live tax sales coming up in June in the state of Kansas. And Wyandotte County has an online deed sale scheduled for 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 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.

Redeemable Deed Sales

Delaware has only 3 counties and they all have a tax sale in June or July. There are also 3 municipalities in Connecticut that have redeemable deed sales scheduled during June or July. Tax sales in Delaware and Connecticut are live auctions. 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. These sales are usually on the first Tuesday of the month. But since this year the first Tuesday of July is the July 4^th holiday, Georgia counties will have their tax July tax sales on the following day – Wednesday, July 5. Texas counties will likely skip having tax sales in July, so look for them on the first Tuesday of August. Only three GA counties and a handful of TX counties have their redeemable deed auctions online. 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 investigate the tax sales?

Want to invest in tax liens or tax deeds, but having trouble choosing the right place to start? Here are 3 things to consider when choosing where to invest…

1.Which tax sales are happening in the next couple of months? 

In many states tax sales are seasonal. They don’t happen all the time. There are a couple of redeemable deed states with counties have tax sales every month. But most counties will only have a tax deed or tax lien auction once a year. Ideally you want to pick a state to invest in that has tax sales that you don’t have to wait a few months or even a year to participate in.

2. Where do you live?

Do you live in a state that sells tax liens or tax deeds, or do they sell redeemable tax deeds? It’s always better to invest where you know the property values and know the market. But what if you live in a state that sells tax deeds and you want to invest in tax liens. Then look for the nearest state that has tax lien sales. Or is there a state that you like to visit or vacation in? Or a state where you find yourself frequently traveling to for business?

3. How much money do you want to invest in tax liens or tax deeds?

It takes more money to buy tax deeds than it does to buy tax liens. At a tax deed sale you are actually buying the property, therefore the price can get bid up pretty high. At most of these sales you payment must be made the day of the sale with certified funds. There is no time to get financing. So you do need a lot of cash for tax deeds and redeemable tax deeds.

There are also tax lien sales where premium is bid for the tax lien. Premium is an amount over and above the face amount of the tax lien. The successful bidder in these tax sales is the one who is willing to pay the highest amount for the lien.  In some states interest is paid on the premium amount that is bid and in other states no interest is paid on the premium amount, only on the certificate amount. And in a couple of states the premium is not returned to the investor upon redemption of the tax lien.

You’ll need to have more to invest in these auctions then in tax lien auctions that use other bidding methods, like bidding down the interest rate. It’s imperative that you know the rules and procedures of the tax sale before you decide to participate. I also advise my coaching clients to get results of previous tax sales so that they know just how much money they’ll need. And whether or not that sale worth their time and effort.

Making it easier to invest in tax liens and tax deeds

It’s really helpful if you have access to a resource that let’s you know what tax sales are coming up across the country. Like the resource that my clients and I use to do so. Not only can we find out what tax sales are coming up across the nation, but we can filter that information to find only the tax sales that we’re interested in. Such as only online tax lien sales coming up in the next month, or live tax deed sales happening in the next 3 months.

Once we do that, we can use this same resource to filter the properties in the tax sale to the type of properties we want to bid on. We can also filter the tax sale properties by location, starting bid or amount of the lien, assessed value of the property, or market value of the property. We can go through the filtered properties quickly to find the ones that are worth bidding on.

This is a resource that I make available to all of my clients and to members of the Tax Lien Profits Accelerator™. Find out more about the benefits of being a member of the Tax Lien Profits Accelerator™ at https://taxlienlady.com/membership.