Where Is My Mailbox Money??

I refer to mailbox money as money that I receive in the mail from my tax lien investments. It’s a nice surprise to receive money after investing especially if I’ve kinda forgotten about it.

However, due to everything going on today, I’m wondering what’s going on. This time last year, I had received checks for two of the three tax liens I had purchased and I haven’t received any from the ones I purchased last year.

As I listen to the news, podcasts and read FB posts from other real estate investors, I’m wondering if it’s gotten so bad that people cannot afford to pay their property taxes. Will that mean, that tax lien investors will get opportunities to obtain properties at an even lower price than buying them from the MLS or by doing seller financing deals???

I honestly don’t know!

I buy tax liens for the returns they provide because 10 % is far better than the .01% that a bank savings account gives you.

Plus, bidding is not hard once you set your criteria and stick to it. It just takes a little due diligence.

2021 MS Tax Lien Auction Closing

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.

Pre-Bidding at Tax Lien Auctions

She Ready!!

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.

MS Tax Lien Auction is Coming!

She Ready!

Here are the things that I do before bidding in any tax lien auction.

  • Register with the county and mail in any documentation that is needed (Recommend mailing with a tracking number or signature)
  • Review my checklist of what type properties I’m going to be bidding on
  • Update that checklist if I need to
  • Attend the training held by the county auction company (They may have made a change to their app since the last time I used it)
  • Download the list of properties to Excel and sort out by my criteria
  • Research properties that I’m interested to make sure they match my criteria
  • Place Pre-Bids

I don’t always attend the auction while it’s live on the computer. I have, but I find that it’s boring unless you see your bid winning. I do recommend if you are bidding for the first time to watch at least the first day live.