Real Estate Investing the right way with Jack Bosch

The Standard Operating Procedure (S.O.P) is a technique in guiding you to be successful in your tax delinquent investment business. It does not only protect your interest and goals, but also, the budding transaction. Now after getting the entire pertinent datum after a phone call, let me share with you the easy standard procedures that you should learn to perform to update your data spreadsheet to be more efficient. You should learn how to document everything properly to make your system more organized and goal oriented.

After the phone conversation, start to look for the original record of the property to deepen your research about property. This will add to the information you currently have from the phone conversation with a tax delinquent property owner. Check every detail on your spreadsheet. Update it as frequently as necessary. Try to probe the legal description and get as much information you can in researching the tax delinquent investment property. The more info you have about the property the easier it is to complete your research regarding that property. Also, try to probe more about the assessed value of the said property. Knowing if it’s feasible or not to turn a huge profit. Know the size of the property to determine if it’s a fair transaction or not. Validate it from the previous conversation you had with the seller. Researching more about the property gives you solid information about it. It saves you time, effort and money. Validate the information you acquired from the seller and contact the seller again if something becomes confusing for you. A good research yields a good transaction. Observing these easy steps will help you in your research about the property.

It would also be convenient if you make an updated spreadsheet of the properties you have researched after phoning. By doing this, it’ll let you know what the property value of this specific property so that you may be able to start formulating a price when you are ready to put it back in the market. The value of the abandoned land will become more apparent if you have sufficiently researched about it. With more complete knowledge of the properties you invest your money in, the better your chances are to get a high value for them when it comes auction or selling time. Time is GOLD and when you spend the time to research your properties, your Tax Delinquent Investment can bring you the GOLD. So in turn, proper execution of the Tax Delinquent Investment SOP equals G-O-L-D.

A lien, in its extensive logic, is a legal claim upon a piece of property to secure the payment of a debt. A lending company, for example, has a real estate lien of a home that somebody has mortgaged. A mortgage allows an individual or business to buy property without paying the full value upfront. With a mortgage contract, the lender is given the legal title of the property, the lien, while the borrower retains the equitable title. When the debt is eventually paid, the lien is removed.

Remember not all counties are lien theory states. In a lien theory state, the borrower retains both the legal and equitable title on the property, with the loan being a lien against the property, to secure the debt. Should the borrower default on the loan, the lender must go through formal foreclosure proceedings to obtain legal title.

The formal proceedings normally include placing the property for sale on a public auction, to pay off the balance of the debt. Some states allow the defaulting buyer to buy back the property within a specific timeframe after the completion of the auction. The good thing in most counties is that the tax lien a higher priority lien then a mortgage. But if a property has a mortgage and is going up for a tax lien auction chances are that the lender will pay off the taxes before the sale. Also it is very unlikely that an owner will pay their property taxes before they pay their mortgage, so chances are that the lender will foreclose on the note long before the property goes to a tax lien sale.

Everyone has to start from something small. In the Tax Delinquent Investment Business, it would be wise to start out small during the beginning.

On purchasing tax delinquent properties you’ve decided to focus more on lower dollar value properties. This is great since, the lower the value of the property the lower it’s back taxes are, and adding up both won’t get you off your budget.

Usually the Assessed value is a percent of the actual market value of the property. If they say that the assessed value is 5% of the actual property and that 5% is at $500 then the estimated property value would be $10,000. Basically you would want to focus on delinquent properties that are assessed at perhaps $50 to $500. Eliminate the higher dollar values because chances are all of those are going to get redeemed and that’s not what you’re looking for. Remember you’re on a budget and its best to stick to it.

After eliminating properties with high and very low assessed values, next thing to do is to get the addresses of all the property owners that are on that list. You would want to know if the owner lives in state or out of state. If the owner lives nearby chances are they’re not that willing to give up the property soon but are just waiting out for the right deal, which is high as they would hope. But if they leave out of state, most likely they show little interest on the property and are willing to give it up.

Sometimes counties send letters to property owners who weren’t able to pay their property taxes and if they send it out to a bad address or the owner doesn’t respond to such letters, the county put a mark on these properties. You can ask the county for that list if they have one.

Out of state owners are those you have to put your eye on because they are the ones who are more than willing to let their properties go. The sooner they want to get rid off their properties the cheaper the deal you’ll be getting. Most of all, you get to stick to your goal and budget.

They say that all good things come from small packages. In Tax Delinquent Investing, starting out small and doing it right will eventually lead to great things. It would be advisable to start small and spend more time to master the craft in the beginning. The great package will come later as a result of all your invested hard work.

Plat maps are important in tax lien property investment, especially when no clear address has been given to the property. As we all know they are illustrations that help us locate certain monuments in the area. This gives evidence of familiar landmarks. This is a way to identify if the property has road access or other rights of way. Knowing that kind of information can help you determine if that property you are looking to invest in has access to a public road, which is a legal requirement imposed by the government.

Plat maps visually provide you with important information pertaining to the property such as: property dimensions, shape and position. Most plat maps also point out landmarks. (like rivers, train tracks, roads, trails, and sometimes elevation). You can use a plat map to locate a street address or find the GPS coordinates if a parcel has none on record.

To obtain a plat map you will need first the APN (Assessors Parcel Number) or the property. This number is the county’s unique identifier for the property. Once you have this number check you see if your county has a website. Most counties allow you to search property records online. If your county does not offer their records online, then you can physically go to the Assessor’s office in your county that you have chosen to invest in and look up documents from there. But for now, let’s assume you can use the internet as your research tool, which I personally think is an absolute necessity in this business. You are well on your way to finding your property. Using the counties plat map search tool, type in your properties APN and pull up the plat map. This is usually accessed in a .pdf or .tiff file format.

The plat map that you pull will show you a bunch of parcels with identifying numbers or letters. Each parcel may have the dimensions printed beside them and may contain outlines of roads, landmarks, rivers, trails or tracks. Each county is different in the way they identify a property on the plat map, so check with your county on this, but as a general thumb rule most counties use the last digits of the APN number to identify the parcel. For instance if an APN number reads 380-477-058, then the on the plat map the property may be marked with a circled 058 number. Also look at your properties legal description if the legal reads “Lot 2 in Block A of the San Fernando River Subdivision” then you would need to pull the plat map for block A of the San Fernando Subdivision and look for the lot that has 2 printed on it.

Plat maps are official recorded documents that give you a visualization of the lots in any given area and they are invaluable when doing your due diligence before an investment purchase. For instance, you will be able to determine if you are investing in a one acre lot surrounded by large 40 and 80 acre parcels or a one acre lot next to one to two acre lots. Another great reason to view the plat map is that the plat map is that it gives you a quick overall view of the area. Properties zoned for residential use next to a train track may not be what you what to invest in and will probably significantly reduce your chances to sell the property later on. By taking a quick look at the properties plat map you should be able to weed out a lot of the parcels that you don’t want to buy. My favorite example though on why you should look at the plat map is that sometimes, although very rarely, you will come across parcels that are 1 acre however they are only 10 feet wide and 4356 feet long. This type of parcel is deceiving and if such a parcel is for sale in a great neighborhood for a very low price you maybe tempted to react in haste. But remember, Always view the plat map… in the above case you will be glad to have caught this junk property before you purchased it.

Properties that are tax delinquents often go to auctions after 3-5 years because the county needs to make back their lost revenue. Auctions are the popular venues for selling and buying properties. But why should I wait 3-5 years to buy properties when I can buy direct? Why should I still participate in auctions?

In auction sales, real property investors can earn pockets of profits with excess proceeds and redemption interest earnings. Moreover, investors like you can gather and check information of properties that you are interested in.

Prefer auction sales in the countryside. Such auctions are less competitive and rural lands are abundantly sold. While metropolitan areas bid properties at 50-80% market value, small county auctions often bid tax delinquent properties at only 10% market value. Moreover, you get to buy more cheap lands in these auctions because there are less number of investors. Real property brokers often are interested in urban properties. With the falling prices of houses upon the near U.S. economic recession, more real property brokers flocked to buy houses especially in the metropolitan.

Bring in hefty deposits in rural and online auction sales. You so you can buy a handful of property. Bring either cash or casher’s check. But always register first even if you do not plan to buy anything. Also try registering online as soon as possible. Auction personnel anyways refund most of your registration fees. They only keep a small fee, afterwards, for processing fee. You have to, at least, pay to participate. If you buy in the auction sale, they will however keep a larger fee.

So, get your bidding card and bid, bid, bid, bid, bid!

Focus on tax delinquent properties, rural lands without houses and properties and especially without mortgages. These properties are cheap simply because they have lesser investment costs.

To check, go online to the county’s website to do a title search if a property has mortgage. Visit the county office if you are not online. Either way you can the appropriate filed documents through the recorder/clerks office. The Recorder or clerk records and indexes every single document in the county, including ownership transfer, mortgage, leans or anything about properties. You can also check them online because some counties post clerk records in their webpage.

You also want to keep in mind the real market value of the property to further assess the marketability of a property. Assessors can specifically give you the current or previous values or sometimes the assessed market value of a property. Sometimes you can calculate the market value of a property by knowing the ratio the county using for their assessments, for instance in Arizona the assessed value is usually 2/3 of the real market value. Say, a property that is assessed at $4000 would mean a ballpark market value of $10,000. So, do not drop the property from the list. Figure however the consistent ratio of assessments by checking ratios in others states. Some states assess at 10% of the market value.

While treasurers give you tax-related information of the property and assessors give details of the properties, clerks also give such information. So, look on files of Mr. A, B, C, etc and what properties each one owns and their respective profiles. Check for mortgages to make sure no investment liability comes up. Also do title search of previous owners or chain of titles and know how this property was sold. Check Mr. A, B, C, etc and how did they transfer the property. Look at other documents. Check for mistakes to grasp the overall picture of the ownership of any property.

What’s the difference between a workshop and a tele-workshop? Actually they are almost the same. There is a speaker, who is definitely the best in the field. In this particular case, a professional whose expertise is in Tax Delinquent investment would be the most qualified to conduct the workshops. There are thousands of people who are willing to learn by listening to the speaker and what they have to teach. These workshops are usually in short time periods, taking only 4 to 6 weeks to complete it. The main difference between the two is tele-workshop is conducted over the phone.

Tele-workshops, compared to workshops is a one-on-one session between the speaker and the attendee. In normal workshops, you could easily find 20 or more attendees all jam-packed I one room or hall. The speaker outlines all the topics needed to teach every time before the tele-workshops begin and the training is live which means the attendee will not be listening to a recorded speech but instead he or she will be talking to the speaker directly. In normal workshop settings, you would usually have to wait your turn to ask questions and you can’t really disrupt the lecture at any given moment. In these tele-workshops the speaker normally imparts their techniques and wisdom, just like what you are used to in a normal setting.

Usually it takes a week to learn the techniques and get the hang of the lessons and teachings but since the speaker is the best in this field, and you are getting a special one-on-one training, you will probably get the teachings in less time and a possible closed deal, particularly on tax delinquent land, before that time runs out. You’re on your way to make a big profit. The speaker will also walk you through the process of identifying a good area to invest in and how to get a list of properties with tax delinquencies. Basically topics like how to make a proposal letter for a certain landowner, to answering a phone call from the sellers, making a quick proposal over the phone and selling the properties you have purchased right away. All these topics are just some f the things that will be highlighted in these Tax Delinquent Investment tele-workshops.

The quality of the tele-workshops you participate in would essentially be a gauge of how well you will do in this business. Sure, you can try and learn on your own, but that would take years to accomplish. You would have lost a ton of opportunities by that time and you might miss a few tricks as well. These tele- workshops do cost money but with the fortune you expect to earn in the Tax Delinquent Investment business, learning how to do it right will have to be one of the most valuable investments you first have to make.

Asking the most appropriate questions during a phone call transaction is very essential in reaching your Tax Delinquent Investment goals. Aside from the fact that you should be courteous, you should also know where to direct your conversation. Asking them these simple yet relevant questions entails you in probing more about the property and owner’s background. By using these simple questions, you will be able to maximize the efficiency of the call. It actually does not make your life harder, but I want to make it easier by applying a more systematic approach when phoning.

When the tax delinquent property owner phones you, initially ask for the caller’s name. Ask them how you should address them, maybe they are more casual and ask you to address them with just a first name, or a more formal approach with a salutation; Sir or Ma’am. If you happen to have a hard time understanding it because it may be foreign sounding, ask them to spell it out for you. It’s way better than constantly mispronouncing their names. It pays to be polite when you ask for their name. The next relevant detail you need to ask is if he or she owns the land or property. By asking that simple question, you’ll know if you’re talking to the right person or not. Very often, it’s not the owner calling. It’s usually somebody that represents the owner who phones. Even if it’s not the direct owner that rings you, you still should consider yourself lucky. Although, when the owner himself or herself phones, you don’t need keep probing, you’ll know right away if they have decided to sell and let the property go. You should also ask what state, county and APN of the property is situated in, as well as, it’s square footage. You may also want to ask how many properties are involved. Sometimes, people get multiple lots or properties in the same vicinity. By asking this question, it gives them an option to sell more properties that they want to dispose of at the same time an opportunity for you to hit more birds in one stone. It will also help you validate the properties they wish to sell.

After getting the entire necessary datum from the caller, you now confirm their mailing address. Confirming the mailing address of the seller validates your spreadsheet information where they currently reside. Your records must always be current and updated. Tax delinquent property owners from the Northern states sometimes reside down south during the winter. Remember, it is more likely for out-of-owners to let go of their properties for tax delinquencies. Not only will you save time, money and effort but also, close the transaction the soonest possible time after your conversation.

Now you know what questions you need to ask when a seller phones you, you should be efficient enough to be spontaneous and consistent in receiving one. Making sure all your questions are answered while you got them will help you to be more efficient and organized. You have caught the fish on the hook at this time, now don’t let it go and make sure you get it in the bucket in time.

With such volatility in today’s business markets today, how can you make sure that your investments are safe and earning the type of returns you need to achieve your financial goals?
From the start, you should know where your investments are placed and what your investing on in detail. Second, you should realize that if you ever want to achieve the life you deserve, you need to take action. Knowing your investment goals from the beginning will help you keep your focus in tact and allow you to manage your available funds to its full potential.
So many years before I took a the leap of investing my money, having a nice decent job somehow made unhappy because the work always took me away from my loving wife. I started researching successful business America. I started looking for ways to have more time to enjoy with my family without having to compromise financial security. I found that in Tax Delinquent Investment.
It was in Tax Delinquent investment that I learned how to maximize my earning potential without a lot of risk or stress. It seemed like a better kind of security, more secured than a decent paying job. Through my experience in the world of Tax Delinquent Investing by means of land investing, the most important fact I can share is that investing in tax delinquent real estate is one of the safest ways to invest your money and earn an extremely high rate of return.
I want to invite you to the tax delinquent arena and show how you too can earn huge investment returns from little known investing strategies…
Always remember that county government manages the entire tax delinquent process so it is very safe and fair. The last thing the county wants is an unsatisfied tax delinquent investor. Without the investors, counties would not be able to collect the money they need to keep the county government operating. Each county in the United States has a process they use to remedy situations where property owners stop paying their property taxes. So typically a lien is placed on the property, in the form of a tax lien certificate, this certificate is valued at the amount of the back taxes plus the interest. A property owner still gets a chance to redeem this, if they eventually find means to pay it back but if they fail to pay it back during the given allotted time, called redemption period, they lose their entire property to the investor for the property taxes owed. Even if the delinquent property owners pay their tax bill, you, the investor, make an extremely high rate of return on your money. But investing in tax liens is just a small portion of tax delinquent investing there are more powerfully profitable little known investment niches’ in this field.
The best part is that tax delinquent investing does not depend on the economy, so there is zero investment volatility when you invest.
Riding the Tax Delinquent Investment train is more like a stroll in the part than a roller coaster ride. It does not go up, down and sideways with sharp turns like the stock market. Tax Delinquent Investing is like putting your car on cruise control in an open and wide road, sure to bring you to your final destination, financial security, safe, happy and alive.

When you are in the process of having a contract closed in Tax delinquent Investment you need to consider a time frame. Remember not to make that contract null and void, so give it a very good time frame of about 60 to 80 days. This is for your security, as well as the sellers, so there is still a way to back out of a contract, if you need to.

But, of course, you do not want to wait 60 to 80 days before you close. You want to close much faster. You want to close, ideally, as fast as possible, because the faster you buy it, the faster you can sell it, and the faster you make money. So, therefore if you work with a title company, make sure you send the sale agreement to the title company, once it is accepted. Tell them you expect them to close escrow on or before a specific date. You want the title to be ready as soon as possible, so if it can be ready the week after the sale that would be best. Then they know that they do not have to wait until the close of escrow. Very often, title companies wait until the very last moment. They are trained to wait on attorneys. They are trained to wait until the day of close of escrow comes and they close a day or two prior to that. The title should be ready a month earlier than close of escrow, ideally.

In my experience sellers are ready after 10 days. Then, they sit there and wait, and if you do not remind them. They just let the paperwork sit there for another 50 days before they say, “Okay, let’s arrange for closing.” So, you want to make sure that you are on top of the situation. Remember, just because they have agreed to sell does not mean that they will chase after you, you still have to do some legwork. This is your investment and it is in your best interest to make sure it goes smoothly from beginning to end.

In Tax Delinquent Investing, follow through is just as important as acquiring and convincing the seller. You will be dealing with third party organizations that is used to playing the waiting game. Remember, this is your money we are talking about. Would you leave a wad of cash sitting around? I think not. Make sure you direct the third parties accordingly so that your investment process can go as smooth and seamless as it can be. Your investment is turned around faster and easier.