Build Your Successful Tax Lien Portfolio Now

Tax Liens Portfolio Real Estate BusinessIn order to establish a portfolio of tax lien or tax deeds certificates portfolio, follow these helpful steps:

Realize the real intention of your tax lien or tax deed portfolio. Do you invest for current income or for future profit? This question will check the kind of investment that will work best for you – you could be better off investing in tax liens, tax deeds certificates, or tax deeds that are redeemable. Whatever you do in order for you to build a worthy portfolio will always be based on your answer to this question.

Learn where to invest. Know more about the areas that you plan to invest in. So if you decide to invest in many areas or in different states, it is recommended to start in one area first and then prove that you can be successful in that area before moving to invest in another. Remember, not all counties have the same laws and ways in tax sales. Make sure you know all about the procedure before jumping into any investment.

Know all about the tax sale details. Research on things like: where to invest, where and when the tax sale is held in that specific county, where and how to get the list of properties that will be put up in sale or auction, and who to call or ask for help to get all the information you need.

Due diligence on properties for tax sale. This is considered to be the most significant step in the process. It is always recommended that before you bid, you have to do due diligence first on the tax sale properties. You might have to spend more time with tax deeds than with tax liens.

Always be ready when going to tax sales. Be ready with your paperwork and other necessary documents when attending tax sales. There are certain states where it is required to register prior to the tax sale before you are allowed to bid. Others need you to register two weeks before while some states accept just minutes before the tax sale starts. Some municipalities need you to deposit around $100 to $1000 to register. Large deposits will be returned to you if you have not purchased anything at the sale while smaller deposits may not be returned. Also, you have to make sure that you do have the funds before you go to tax sales.

Have a bidding strategy. You have to understanding the bidding process and from there; you can create your own bidding strategy. With this, make sure that you know your limit on how much you are going to pay for a property or how low the interest rate you will be bidding.

Always protect your investment. When you have purchased a tax deed or tax lien certificate, think of ways for you to protect your investment and increase your profit. You might want to follow these tips:

1.) Record the lien or deed with the county clerk
2.) Pay taxes
3.) Clear the property’s title
4.) Foreclose the redeeming right

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