If you have had a few successful tax lien investments, then you were likely impressed by the profits they created. However, is it possible to build a business around TLC investing? Yes! This course will talk about what steps you need to take to turn your hobby into a proper business that produces reliable cash flow.
Hi there and welcome to this next mini-course in our series about tax lien certificate investing. This one is going to be about building a business around tax lien investing. In other words, if you want to just do this as a hobby that’s fine, but if you want to take this seriously and you want to make money consistently with this investment method then you’re going to need to know a few things and make sure you have the proper framework in place. And that’s what were going to go into in this course. My name is Michael Decker, I’m a contributor to myopenpath.com. Hopefully you’ve heard me on some of the other courses here and hopefully you’ve enjoyed the courses that I’ve been putting together for you.
Now, what are we going to go over in this course, Building a Business Around Tax Lien Investing? First off, in module number one, we’re going to talk about the permanency of tax liens. In this instance, this is something you should build a business around. This isn’t like the cupcake stores that were popping up for a while and now no one wants cupcakes. It’s not like buy a Krispy Kreme franchise which oversaturated the market. This is something that has been around for a long time and will be around for a very along time, and I’ll go into some of the specifics on that.
Module number two, we’re going to talk about staying appraised of local laws. This might be a little intimidating for you, if you’ve never really dived into state statutes, but I’m going to hold your hand through the basics of it and you’re going to see it’s going to be well worth your while to make that special effort.
Module number three. Even if something changes, how can you use the skillset that you’ve built to stay profitable and keep creating earnings in the face of change?
Module number four is the importance of consistency. That’s obviously rule number one for any business. A lot of businesses fail within the first few years. I think the statistic is something like 80% within the first five years. But the thing is a lot of other businesses in that same industry do well. What’s the difference? Well, there are a host of factors of course, but one of them is just that the owner doesn’t stay consistent.
How many websites have you gone to that haven’t been updated in years? How many times do you see a local pizzeria get taken over by a chain because they were not willing to adapt. They weren’t willing to change their prices or change their marketing strategy now that they had competition. So that’s the idea. It’s not only being adaptable, module three, module number four, just being consistent. That’s really going to be a key.
And module number five is going to talk about the business idea of dying tax liens for other people. This is an awesome course, I think you’re really going to enjoy it, we’re going to dive into a lot of real meaty information and help you shape the structure that you’re going to need to turn this into a permanent business.
All right. Thanks a lot. I’ll see you in the next video.
