Tax Lien and Deed investing is a business and you should treat it as such. Make sure to have plans and goals so that you are always on your right track. In this article I will help you make your business start and end it right.
These are the things that you need to remember:
Make sure that you drive your properties. Know if it’s occupied or vacant. It’s easier to close the deal if the property is vacant because most of the times if there are occupants in the property there’s a great chance that it will be challenging because you need to deal with the occupants first before dealing directly with the house. But some cases that the occupants are participative and have a great understanding of what’s really happening.
When meeting a home owner make sure to be cautious but be in a friendly manner all the time. Wearing smiles can brighten the day of just about anyone. If they find you nice in general there’s a great chance that everything will go much more smoothly.
Evaluate for any for sale properties around to have a comparison. By checking another house for sale with in the neighborhood, it will give you a chance to properly evaluate the value of the the property that you have.
Don’t use your emotion when doing the deal. Always remember mind over heart. Don’t attach yourself to the property so that you will come up a rational decision in buying a house.
Always have the deal with A Max Bid in Mind. Don’t go above the maximum bid to avoid over pricing.
Make sure to cut the grass once you bought the property to avoid maintenance liens that can accumulate over time. This is the first thing that you need to do after you bought the property to help you save a lot of money.
Have your property insured if the owner doesn’t have it yet. It is a wise idea to protect your investment from any future possibilities of damages.
Check for the water, make sure it’s not turned on to avoid flooding because it actually does happen. (Sadly, it happened to us more than twice!). Make sure also to check for leaks to help you save big money in your future bills.
Before contacting lawyers make sure to check tax title services to get clear title.
Be organized to have a successful deal. Treat this business as best that you can. This requires your full potential in planning, execution, and management. People with high quality level of organization are most successful people.
Calculate all the back taxes of the property. You have to pay all those back taxes and if it’s worth more than the amount of the property then it’s not a good deal.
Always remember that you can’t foreclose when you only pay for the middle-year tax lien because some counties requires you to pay other years to foreclose.
Always check your parcel number with LandGlide to make sure you are buying the right property.
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