Tax Lien Certificate and Tax Deed Investing: Gear You Need
Although nearly any person can successfully invest in tax lien certificates and tax deeds because it doesn't necessitate a lot of money, a special talent, or extensive energy, there are a few basic tools you will require to help you find the most desirable deals. Here is a checklist of those that are essential to any tax deed investor.
Fundamental Analysis Tools
What do you desire to know before attending an auction and bidding on a tax lien certificate or tax deed? The essentials are: who, what, when, and where. Finding out those basics will depend upon the following things:
. Tax lien and tax deed county office directory
. Laptop
. Cell phone
. Transportation
. Photographic equipment
. Memo book or Software
. Time
No doubt the most invaluable tool you can put in your toolbox is a directory of compiled tax lien and tax deed county office contact info. You will be utilizing this often.
Much of the info you will require can be found on websites. Many counties are digitizing their info and their requirements. By way of county websites, you can often run across a catalog of parcels up for auction, the date and time of the next auction, the bidding requirements, etc. A computer will spare your time.
When the info you are looking for can't be found on websites, you will either need to call the applicable county office or appear in person. In fact, this is recommended because you can usually obtain all sorts of advice and information this way that a computer can't supply. A phone is a must for this investment.
Transportation is needed, too. You still have to physically appear at most tax lien certificate and tax deed auctions. You will also want to drive by the parcels you are thinking of buying, too.
While you're at the property, break out your camera and take pictures from a range of angles. This will assist you in remembering the positive and bad aspects of a property afterwards. The pictures should also be stuck in a memo book or digital document that holds all your notes regarding a property.
And finally, don't forget to use the required amount of time to fully investigate each parcel you are considering. Generally it's the extra due diligence that prevents a bad investment. You might have to spend hours reading through title documents or researching the history of a property, but it's well worth it if this permits you to stay away from undesirable properties - or find one that is really valuable.
When it comes to profitable investing with tax lien certificates and tax deeds, summon up that old adage, "to be forewarned is to be forearmed." There are a lot of tools handy and you would be wise to use each and every one. The most successful investors are those who do their analysis.
About the Author
Ted Thomas is America's Tax Lien Certificate and Tax Deed Authority. He has helped thousands of students graduate from his investment courses and make amazing profits. Visit Ted's website and receive your FREE copy of the 57-page Start Up Guide now at http://www.tedthomas.com.