The Complete 13-Step Checklist
If you are anything like me, I like a checklist of things that I can follow to guide me along the path and make sure I keep on track. Here’s a quick recap and checklist of the action steps you need to start taking now. It’s actually pretty simple when you just follow the blueprint that’s been laid out for you.
1. Decide Where to Invest
If you want to invest in multiple locations, begin with one area and hone your technique before expanding. Laws and procedures vary from state to state and even from county to county within each state. All things being equal, start close to home to avoid unnecessary travel expenses.
Whatever you decide to do, I strongly suggest you do not try to tackle multiple jurisdictions at once. There is a learning curve for investing in tax liens and tax deeds, just as there is a learning curve for understanding any new venture. The more jurisdictions you decide to invest in when you are first starting out, you are multiplying your learning curve for each jurisdiction.
Also, as I said in an earlier chapter, you should stay close to home. Learn to farm your neighborhood and know it inside and out. Especially for your first few auctions, you want to have photos of the properties in front of you when you bid, and you should know just what that block looks like. It will give you an edge.
2. Decide How to Invest
Are you going to invest personally or as a corporation? Do you have the capital you need to invest? If not, consider working ...