Every now and then, you have to switch it up and do something new or different.
Real estate investing is no different. I don’t know many investors who only do one type of investing. Most have done at least two types of real estate investing.
This year, I’m going to try something while bidding on tax liens. In the past, I’ve been afraid to bid on land because I didn’t know what I would do with it should it come to me foreclosing on the property.
However, today I’m feeling like land is exactly what I need because we have entered into a time where people are starting to grow more food inside and outside their homes. Not everyone is going to have that space and owning land for a community garden or to house someone’s animals could be a good investment.
It’s the Fall Annual Tax Lien Sale in Mississippi. I’m going to list the basic steps I went through to bid in the August 2020 Mississippi Tax Lien Auction. I’ve already discussed why I participate in tax lien auctions in a previous blog post. This year, I’m excited to be bidding in the state that I invest in.
NO, I’M NOT LEAVING THE COMFORT OF MY OWN HOME TO BID IN MISSISSIPPI!
It took me a while to find the website that is used by the state of Mississippi and sure enough, I soon realized the process of bidding was not going to the be same as it is in Florida or Arizona.
I’ve broken down the main steps below:
Step 1. Register with the tax auction website
Step 2. Complete the W-9 Form
Step 3. Contact the specific county I registered for to find out additional requirements of bidding.
*I recommend sending any information they require in step 3 with a signature required.*
Step 4. I checked the website every few days to see if the properties were loaded.
Step 5. I imported the entire list of properties into Excel and begin to weed out the ones that I didn’t meet my criteria.
Step 6. Once pre-bidding begin, I entered the max bid amount for the properties I was interested in.
Step 7. I chose to watch the live bid since this was my first time bidding in this state, but you certainly don’t have to.
Overall, it was a good experience, I won on a few of the properties, I was interested in.
More details will be presented in the Tax Lien Buying Course!