Some investors get overwhelmed at this point, but I’m not sure why. To me this is the fun part. First, decide on the type of liens or properties you would like. Why? Tax sale lists are often huge, and your bank account may not be. Even if your funds are unlimited, there are liens and deeds that you should avoid. Therefore, you need to prioritize by screening lists.
The idea with screening is to weed out what you don’t want and come up with a smaller list to research. As an example, liens are categorized into property types, such as “improved” versus “unimproved.” Unimproved property is land (either acreage or a lot or an unbuildable strip of land). If you are not interested in land, then screen out real estate that shows a “0” value for improved property.
If you are concerned about environmental risk, then you may want to avoid commercial properties. Other screens include checking for redemptions before you start, while you are working, and when you are almost done. If you can find a list in a spreadsheet or database format, you can screen out what you don’t like much easier. Screen for taxes owed versus the value. Be sure to look at the legal description and see if it is land or only mineral or water rights. Make sure the land is not a green space. The most important screen is for redemptions. The last thing you want to do is research on a property that was redeemed (aka, taxes were just paid by the property owner).
Happy Investing,
Gus and Mike
Authors/Investors | https://taxforeclosuresales.com/training/
P.S. It looks like the Stock Market is in a roller coaster phase again. You should be happy to learn more about this category of investing where the rules are completely different—where the rules are set by state law, run by local governments, and not affected by markets. At the end of our lessons, I’m going to make you an offer you can’t refuse for lifetime membership, mentoring, and support. For now, let’s keep learning.
