My primary goal is to uplift and provide affordable housing for the community I grew up in, but I also want a better return on the dollars I make than the traditional bank will provide in order to meet my goals. So yes, I’ve jumped on the Tax Lien buying band wagon.
No, I did not pay someone $97 for a course. No, I did not have pay $300 for a Consult. I simply took a few hours in the evening after work to research and learn how the process works. In the words of Brandon Turner from Bigger Pockets, “I did my own push-ups.”
One day I came across an article that explained the difference between Tax Liens and Tax Deeds. Then I came across a map of all the US states and what months they have their Tax Liens and Tax Deeds sales with the redemption period. I printed all this information and I read it. Then I went to YouTube and did a search on Tax Liens and found the perfect video for me. In the video, the person was actually showing what properties they bid on based on their preferences and goals as well as showing the audience how the bidding worked on the bidding website.
The next thing I knew I was buying a left over Tax Lien from Duval County in Florida. A month later, I got a check in the mail. Yes, I was skeptical and I did not know everything, but I knew enough to know how much I could afford to pay for a Tax Lien and what kind of property I was looking for. So I didn’t spend $1000 nor did I spend $100 on my first Tax Lien. I wanted to get my feet in the game and see how it worked For me, that was enough. To date, I have purchased about 5 Tax Liens in different states. I do this with the immediate thought that I’m going to get a better interest rate on my money rather than thinking I’m going to have foreclose on someone’s home. To date I have yet to have to foreclose on a property.