Hey everyone and welcome to the next mini course in this series about tax lien certificate investing. You know, we’re trying to go into as much detail as possible to help you have a good foundation, to feel confident about investing in tax lien certificates, while at the same time not overwhelming you with too much information and not leaving it clear how you should start. So, at each step of the way we’re trying to leave you something practical you can do, that you can, after watching the course, get out and put into practice. So this one is all about filtering the tax lien list. You understand how this works, you understand how to pick an area, you understand how to get a list. You understand the main exit strategies that can be used, so once you get your list, you don’t want to waste your time buying liens that are garbage. Buying liens that will never be redeemed and the underlying real estate is no good, you’ll never want to foreclose on it. We don’t want you to fall into the mistake of just buying up too many tax lien certificates and not focusing on the quality. That’s what we’re gonna go into.
My name is Michael Decker, I’m a contributor to myOpenPath.com. As always, everything I’m going to be sharing with you is a mix of my own experience and the experience of some of my investor friends, who are incredibly successful. You know, I’ve used these same methods myself and I’ve been very pleased with the results.
So what are we going to be going over in this mini course all about filtering the tax lien list? Remember there’s two main branches of this tree, right? The road forks and you can go either left or right. You can go either after interest or after the underlying property. We’re gonna take both of those methods and break them down into three categories. So in module number one, two and three, it’s all going to be about collecting the interest.
First, what are the owners that you should focus on? Because you’re going to be buying a tax lien certificate at auction or over the counter. Of all of the ones that are available, which owners should you be paying special attention to?
Second, when collecting the interest, module number two, what sort of value should the property have? What numbers are we looking at and that’s going to have a direct bearing on how much interest you collect, obviously, but also whether or not it’s likely to be redeemed.
And then three goes even into a little bit more detail into the likelihood probability. How can you improve your odds? What are some little giveaways about certain properties that tell you, “You know what? I think this one is going to be part of that 99% that’s always redeemed.”
Then in the next three modules we’re going to focus on getting the underlying property.
So module number four. If you want to keep the property, what are the owners you should look at? They’re not the same owners as the previous one about collecting interest, if you want to keep the property. Remember one, two and three all hover around the idea of the person’s likely to redeem, right? They’re likely to redeem which means you’re likely going to get your money back with interest. Modules four, five and six, when you want to keep the property, they’re not likely redeemed. It’s likely that it’s going to go all the way to foreclosure, and that’s how you’re going to get a deed to the property.
So, module number four, what sort of owners are not likely to redeem?
Number five, property values. What sort of property values should you be looking at that are not likely to be redeemed, which means you can finally get and keep the property?
Module number six, if you want to keep the property how can you check for a mortgage? This has to do with the probability, it has to do with improving your odds a little bit. We’re going to walk you through a little bit of the process for checking for a mortgage against a property so that you can be as successful as possible.
This is going to be an incredible, practical mini course. If you don’t have your list now you might want to wait. Don’t go through this course quite yet. Go get your list. Once you have it, go through these modules with your exit strategy in mind, whether collecting the interest or keeping the property, and use these steps to filter down your list, and you’re going to find that out of a big giant honking list of 10,000, you might not be left with a ton at the very end, but they’re going to be the most quality tax lien certificates and it’s going to be the best use of your money.
So let’s move on to the next module where we’re going to talk about collecting the interest, the owners that are more likely to redeem.
