Real Estate Deed Trolling, An Effective Strategy, PT 1

Real Estate Deed trolling is a great investment strategy that works. I am sure that some guru out there will pick this title up and use Deed Trolling as the name of his newest real estate investing system or book. The truth is there would not be a high demand for a system called: get an upcoming tax deed auction list, contact the owners because they are on the verge of losing the property and will agree to sell the property for cheap, once purchased you can resell and put the profit in your pocket.

In real estate deed trolling there are some key things you should know so that this strategy works for you. Much like trolling for fish you will need:

A VESSEL to get you underway "yoho yoho an Auction List indeed"
FISHING POLE AND LINE"shiver me timbers it's an O&E Report, Tax Deed File Data, and Appraisers records you need"
HOOK "fast acting title agent to handle closings"
BAIT "well prepared script and mailer"
And with the right presentation the fish will come forward and sell their property to you.

This article will focus on Florida and be very specific but this strategy can be used in many states.

Number one thing to do for real estate deed trolling is to go to the County Clerk of Circuit Courts website or office, in Florida. They are responsible for auctioning of tax deeds and this where to get your list.

Note: With a 2008 Statute change many counties are gearing up for online tax deed auctions which will make access to information and lists even easier. As of November 2009, there are currently 11 of the 67 counties in Florida which have contracted with auction host, real foreclose, to handle the online sales of tax deeds. Charlotte county is most actively conducting tax deed auctions online.

Follow this progression to see a current list of tax deed properties coming up for auction in this county. Google (Charlotte County Florida Clerk) Once on their homespage see the searches button-click it. Scroll down to find Tax Deed-click it. Run a search by sale date; see Search Results button at bottom-click it. On the returned list click one of the certificate numbers returned. On the next page click, O&E Report. You are now looking at a document within the tax deed file, the Owners & Encumbrance Report.

Continued on PT2