Professional Auctioneer · Baltimore, MD · Member since 2015 · 1k+ posts · 1k+ votes
10y
Forget the competition, go knock on the doors of those in tax sale, ask if they knew their property was subject to foreclosed by tax lien.
Offer then some information that will help them (by giving freely to help others in stressful situations, you'll find that the universal law of reciprocity will return favors to you abundantly)
Suggestions you can render:
pay back taxes now to avoid more charges
sell their home
get a loan
get help from local churches
talk to relatives
you could pay their taxes in return for something
you could take an option to buy their property, paying off the taxes
you could buy their property at a discount and give them an option to buy the property back from you some time in the future. They stay in the property while paying you rent until they exercise their option
Can you think of other ways to be of service to this home owner?
Oh, suppose you find that the house is vacant......opportunity knocks!
Avoiding the competition can be fun and profitable.
Professional Auctioneer · Baltimore, MD · Member since 2015 · 1k+ posts · 1k+ votes
10y
Forget the competition, go knock on the doors of those in tax sale, ask if they knew their property was subject to foreclosed by tax lien.
Offer then some information that will help them (by giving freely to help others in stressful situations, you'll find that the universal law of reciprocity will return favors to you abundantly)
Suggestions you can render:
pay back taxes now to avoid more charges
sell their home
get a loan
get help from local churches
talk to relatives
you could pay their taxes in return for something
you could take an option to buy their property, paying off the taxes
you could buy their property at a discount and give them an option to buy the property back from you some time in the future. They stay in the property while paying you rent until they exercise their option
Can you think of other ways to be of service to this home owner?
Oh, suppose you find that the house is vacant......opportunity knocks!
Avoiding the competition can be fun and profitable.
Investor · Nashville, TN · Member since 2015 · 688 posts · 607 votes
10y
@Autumn Alexander The problem with tax sales in tennessee is there is a redemption period of 12 months for the homeowner to pay you back plus 10%. If your goal is to earn 10% on owning a lien against the property, that is great. I can't tie my money up for 12 months on a property I might not get. There are other ways to find good deals. But you have to decide if that is a good strategy for you.
I have personally never been, I have mailed that list before, but make sure you do your due diligence on the property to make sure it's a property you want, and you have to be able to move really quickly