Sorting Your List

Sorting lists may not be that easy. In fact, it is recommended to sort your list the best way possible and you do it based on your own criteria. You get information so you can eliminate some properties on your list so it would be more focused on the best ones. In fact, the very first thing you need to do that is part of due diligence is to minimize the list to just contain properties that actually have what you have in mind.

Now, you may ask, how do you eliminate properties? To begin, you must already have an investment plan. If you have decided that you plan on taking a residential for a single family, start sorting your list by using land use code. Remove properties that do not have what you really want. Now, copy the remaining properties that are priorities and paste them in another spreadsheet.

Follow the steps below:

1.)    Sort properties in minimum bid order based on tax amounts the jurisdiction has published.

2.)    Examine the list and check to see if there are properties that don’t fit.

3.)    Divide the minimum bid by total assessed value as this will provide you the percentage of market value. The number will be around 1.5% to 6.0% market value.

4.)    Remember, actual ratio may not be as significant as determining properties that do vary from the average.

5.)    The properties on the list can be deals that are worth it or not.

Next, search for properties that are out of line where the assessment for upgrades or improvements is smaller than your land assessment.

Lastly, remove properties that are way out of your budget. Did you know that it is actually better to purchase 20 $500 liens rather than just 1 $10,000 lien.

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