I’m pretty sure there may still be some MS Tax Lien Auctions still going, but for me it’s a wrap for 2021. Although, I had planned on winning 6 bids, I won 3.
I almost feel like I have to watch the auction live because I would have missed out on winning the three bids, I did place if I wasn’t watching some of it.
Overall, I think I did pretty well and I’m looking forward receiving some mailbox money after the first of 2022. Why after the first of 2022?
Well, because we are almost into the holiday season and some people are going to be too busy shopping for presents, taking trips, etc, not thinking about those property taxes until tax season which is what I’ve come to love about bidding on tax liens in August.
I honestly don’t know how other long distance real estate investors handle work orders from their tenants.
I wrote a blog previously about how valuable having a property manager has been to my team.
Today, I received a text from my Property Manager. I’m thinking a bunch of things like is the tenant okay, was there storm damage from Hurricane Ida, etc.
Low and behold, it was about the stove. The stove wasn’t connected properly and a part burned out. Go figure!
No one was injured. The property is still standing. The stove has been repaired and I reimbursed her the amount that she paid for the part. Luckily, I purchased warranties on all the appliances I purchased or that may have hurt my feelings and my pockets. 😂
My advice to anyone who is considering buying long distance real estate rentals or just investing in rentals in your neighborhood, try looking into getting a property manager. The service they provide to you is worth the money.
From September 2018-March 2019, I was an Airbnb Host. I rented out a room in my home that I lived in.
Did I like it? YES and NO
I didn’t like it because I was booked 3 out of 4 weeks every month and it was exhausting. It was exhausting because I failed to create a system that would allow me to take breaks in between guests. Doing laundry almost daily was no fun for me and having guests book who weren’t tech savvy was a struggle for real. I get it! Everyone isn’t up to date on smart locks, thermostats and Google Assistants.
On the positive side, I enjoyed it because I met people from all walks of life including a Doctor, a PGA Golf Director, an Insurance Adjusters and other nice people.
Would I do it again? YES!
If the opportunity should arrive again, I would do things differently. Here is what I would do.
I would want to have a small apartment or tiny home for the guests away from my personal domain.
I would create a dedicated schedule that worked for me.
I would hire a Co-host to assist with check-ins and cleaning.
Being an Airbnb host was just one of the many things, I plan to try on my real estate journey. Some things I’m sure I will be great at and others not so great and that’s okay with me.
With any tax lien auction, I’m always planning ahead of time. I try to give myself a few weeks so that I can research properties and perform my due diligence.
I refuse to repeat the same mistake I did last year so I stay on top of deadlines and check the website daily just to make sure there are no new updates. Most platforms will email you if there are changes or updates so no worries if you don’t have time to check the website daily before the auction starts.
There is a tropical storm headed towards the gulf coast area soon. I received an email from the company that is in charge of the auction stating to take advantage of the pre bidding feature because the auction is happening whether they are affected by the storm or not.
I was already planning to pre bid anyway, but it’s nice to have that reminder. With that being said, I’ve already completed my research and I’m ready to start placing my bids tomorrow.