When you get involved in tax lien investing, you will probably be doing this on your own and start a business for yourself. The reason being is that you are most likely to get familiar with every angle of the business, if you deal with it on your own. You are expected to get the tax delinquent list, sort it out, mail the letters and tale the phone calls. You will get familiar with the whole entire process from beginning to end if you do it yourself. Of course expansion will always be in the horizon, especially when you are successful at this. To be a better boss that gives orders and instructions, you first have to know how to do it yourself before handing it over to someone else to do.
You will be going to the County office to secure a tax delinquent list regularly. In the process, you are going to establish good rapport and good relationship with the county office staff. The reason for that is you never know when and where these people can be of help to you in your business.
Then you need to sort out the list and find out which of these properties would be good candidates for investment. Some of the factors that you are going to apply would be the location of the properties and the return on your Tax Delinquent Investment.
After you have determined the properties that you would be interested in, you are going to send out letters to the property owners. This is where you will develop good communication skills in relaying a message in one direct letter, where the recipient, the owner of the delinquent property, will initially be coerced into selling their property to you. You don’t expect that each and every one you are going to send letters to would reply. Direct mailing would normally generate a response ratio of 15% to 20%. So, if you mailed 100 letters, then you might have 15 to 20 replies. Sometimes you get lucky and get the higher percentage of the response rate.
There are several steps you would have to take in securing your Tax Delinquent Investment. I can assure you every step is worth the effort and time put into it. The fortune you are about to earn is well worth every hour you spend working on it. This is the epitome of reaping what you sow, 100 X’s. Being a one man shop in your Tax Delinquent Investment will not only minimize your operating cost as a business but also allow you to gain very valuable knowledge regarding the Tax Delinquent Investment Business.