How could you earn a LIVING in tax liens and deeds, with $230,000 cash to start??
I'm a former "investor/flipper" from a market where REAL deals have dried up, and need to make a "LIVING".
I know the difference between a tax lien and deed, and all the blah blah blah that the gurus will spend 3 hours telling you trying to rope you in to spending money with them. I know how to do the due diligence of title search, check local RE values, etc, etc, etc.
What I don't understand is, I read here and there in blogs and public internet conversations that the market for tax liens and deeds is dead, due to big institutions buying it all up, OR this crazy crap about cutting the rate you are willing to accept on liens.
Is this true?
I saw a You-Tube demo of bidding on a lien sale in Florida, and instead of it being the rate that is set, seems like you basically have to accept little to no profit in order to get the certificate. If that is the case then why bother?
It's also my understanding all these states with deed sales has redeemption periods that sounds like you'd better not spend one dime on the property and gotta sit-on-it for 1-3 years. That's ignorant! The only good that I can see is if these people pay off quickly and you can find enough sales around the country to keep your money turning in volume.
So back to the question, how can you make a "LIVING" in tax liens and deeds?