This step is about doing due diligence on tax sale properties. Watch this video to learn why due diligence is so important and to learn a couple of tips and tools for doing due diligence on tax sale properties. I was a little pressed for time when I did this, so I had to shoot this video in between sets when I was working out. Now for a normal workout that wouldn’t be too bad, but if you watch the video to the end, you’ll see that my workouts are a little different than what you might expect.
Just in case you missed the first 2 videos you can get them here:
I also have an audio that you can listen to of some frequently asked questions about tax liens. This audio covers some questions that are not answered in the video course. You can listen to the audio or download it to your computer here:
http://taxlienlady.com/av_files/TaxLienInvestingFAQs.mp3
Happy and Prosperous Investing,
Joanne
By Cheryl October 20, 2008 - 12:05 pm
I learned so much, thankyou. I am interested mostly in liens and I didn’t know how much due diligence I would have to do or even where to begin. Now I do and I am greatful to you. Thank you.
By Darlene October 9, 2008 - 12:49 pm
Hi Joanne,
Tank you so much for all this wonderful information. My boyfriend and I have been looking for a vacation property,for us to take the animals and go fishing, in northern California for a few years. It seems every time we find a place something goes wrong, like the stock market fiasco, etc. He’s an independent screenwriter which means we can’t throw money away. So, I started checking into the tax liens. Maybe you already answered this and I missed it or haven’t gotten there yet, but I was wondering exacting what the bidder fee is (is it refundable if you don’t bid?) and how much does it cost to foreclose on a property you have a deed or certificate on?
Thank you again, and happy lifting (that’s awesome).
By Vincenzo August 31, 2008 - 8:07 am
OK! I have to tell you, I started watching your video and being the P.E and fight instuctor that I am, I instantly started sizes you up as you were explaining due diligence. I said to myself, ahhh thats her husbands gym! once I seen your snatch and lift, I almost fell out of the computer chair! very impressive Joanne, who have my vote for teaching teaching me tax liens and I look forward to buying your course now!
I plan to go to my first auction in feb, here in Los Angeles and the bidders fee is $5000 deposit! since I’m just start out so this fee seems high to me! bit I guess thats just L.A for you. so I’m trying to learn as much as I can before then. this free lesson was very helpful because I didn’t know how to look up whats selling. thanks again, your a real WONDER WOMAN!
By DENISE July 20, 2008 - 7:15 pm
DEAR TAX LADY!
IM GREATFUL TO YOU.YOUR TEACHING ME SO MUCH REGARDING TAX DEEDS, TAX LIENS. I LOOK FORWARD TO ALL 7 STEPS.
THANK YOU
DENISELEWIS@HOTMAIL.COM
By Dan July 9, 2008 - 10:36 am
Hi Joanne,
Thank you very much for sharing this info with us, you are helping a lot of people. I am looking forward to the education you are helping us with.
Dan
By jmusa May 18, 2008 - 10:12 am
Hi Mark,
I’m glad that you are enjoying my free video lessons! You have a couple of options for personal coaching from me. One is my Build Your Profitable Tax Lien Portfolio 8-week training which is going on now. We have already had the first 3 classes, they are held by webinar on Tuesday evenings and each week you get an action list of things to do build a profitable portfolio of tax liens or tax deeds. Also when you register for the course, you get all the materials and recordings of all the lessons. You also get a free trial membership to my members only web site and a private coaching session with me. To find out more about my training course go to http://www.taxlienlady.com/ProfitablePortfolio.html.
Another option is my private consulting with me, to find out more about private coaching send me an e-mail request at joannemusa@taxlienlady.com.
Happy and Prosperous Investing,
Joanne
By Mark May 17, 2008 - 3:27 pm
Hey Joanne,
This stuff is great! Interested in walking me through an actual step by step purchase for a percentage or a fixed fee? In other words, you give me a specific assignment every day (with locations, sites, etc) and I will do it TODAY – I am totally serious. Videos and books are one thing, but a live coach at my side will completely eliminate discouragement and delays. I live in LA and have properties in AZ and TN as well. I will do whatever makes sense and under your direct supervision – that way we both benefit tremendously.
Mark
By jmusa April 27, 2008 - 10:18 pm
Hi Cason,
Olympic-style weightlifters do not wear gloves. It would be impossible to hold on to the bar while performing a snatch or clean and jerk.
You’ve been reading about tax lien investing for a long time. Now is the time to get involved. I have different courses that can help you get started. My new Tax Lien Investing Basics course covers the basics of what you need to get started. It will help you understand the difference between tax liens, tax deeds, and redeemable tax deeds and help you pick the right investment for you. And it will tell you how to get the tax sale information. You can find out more about Tax Lien Investing Basics at http://www.TaxLienInvestingBasics.com.
For a course that really covers everything that you need to know and takes you step-by-step through the 7 Step process that I use to be successful at investing in tax liens or tax deeds, I have an 8-week webinar training. The next one starts on Tuesday April 29th, and you can find out more about that at http://www.taxlienlady.com/ProfitablePortfolio.html.
Joanne
By Cason April 27, 2008 - 8:47 pm
Hi Joanne
I’m impressed you REALLY workout! I am surprised that it appears you don’t wear gloves when lifting.
Nice to know you seem to be a regular down-to-earth woman.
I’ve been reading about taxliens and deeds intermittantly for 8 or 10 years. I need to just buy an educational package and get going.
Thank You
By Oliver April 11, 2008 - 10:11 am
Hi Joanne,
Oh, so the tax sale is bidding down on rate not the amount. this then makes better sense to your comment on not taking lien with low rate.
Thanks and look forward to your new video.
Oliver
By jmusa April 11, 2008 - 8:03 am
Oliver,
Let me clear this up for you. What is bid down at tax lien sales is not the amount or the price of the lien. It is the interest rate that the investor will receive on that amount. We will go over this in the Step Five video which talks about bidding procedures. That video should be posted some time tomorrow. Right now I’m still working on getting the Step Four video done for you which talks about preparing to go to the tax sale.
Joanne
By Oliver April 11, 2008 - 1:19 am
Hi Joanne,
Thank you for your prompt reply. As to the discount issue, I believe I was mixed up with the statement you mentioned in your step one video which you said to find out which state has the rate got bid down too low. This, you indicated, is not a good investment. I am not quite get the idea. Say, there is a lien of property tax for $3000, and the bidder (investor) bid it down to $500. So the bidder pays county $500 and I assume, the bidder is expecting to receive the $3000 + interest rate that county is posted initially upon the period that the lien is active. Am I right on this analogy? How does this bid down on rate occur?
Please advise.
Oliver
By jmusa April 10, 2008 - 11:58 pm
Hi Oliver,
Thank you for taking the time to comment on my blog. You are right about checking the value and the condition of the property. There is one thing that you should know though. The property is still belongs to the owner of record. You can drive by the property and take a look at it, but you may not enter the property to do an inspection or trespass on the property.
As for the county granting a discount to the new buyer, I really don’t know what you are talking about. Is this something that you think you heard on the video or the audio?
Happy and Prosperous Investing,
Joanne
By Oliver April 10, 2008 - 11:13 pm
Hi Joanne,
Great information. I am appreciate that you are so kind to share it with us. I am very interested but also am concern about the risk of this tax lien investment. Since you mention that the lien is attached to the above ground property, so one of the due diligence is to make sure the property structures are in good condition with some market values. The other risk, I heard you mention that some county might grant discount on the property tax to the new buyer. Are these correct?
Please advise,
Oliver
By jmusa April 10, 2008 - 3:05 pm
De nada Luis, ( don’t know if I spelled that right, my spanish is not so good )
Thank you, I’m glad that you enjoy my information and my videos, and your English is pretty good.
Joanne
By Luis April 10, 2008 - 2:42 pm
Hello Joanne
I am always reading your articles and they are very interesting and educational. Little by little I am studying and I like a lot. I just communicate to congratulate you and to thank you the for so important information. And as for the weight, you lifting up more than me, you are incredible you surprise me. Continue foward, successes and blessings,
Note: Forgives my English that is not good, I am Also learning.
Muchas Gracias,
Sincerely, Luis