Tax Lien Investing - Three Ways To Make More Money

Getting involved in tax lien investing is one thing; making a healthy profit from it is another matter altogether. While thousands of people have managed to successfully make extra money (and some have even made it a career) from these investments, there has been no shortage of failures. It isn't as simple as tossing some money down on a low bid, selling high, and walking away with a fat wallet. As with anything, you get out of it what you put in. You may get lucky your first time out, but if you know some strategies for making more money, you can make your own luck.

Get Paid Quickly

One of the major points of tax lien investing that people struggle with is the fact that there is sometimes a long waiting period between purchasing the document and actually getting paid. Unless you invested a trivial amount (relative to your financials) and can afford to wait as long as necessary, you probably want to get a return on your money as quickly as possible. Here's one way you can do it: send a notification letter to the company that owns the mortgage on the house. This works well in those states in which there is a penalty fee for redeemable deeds. The faster you can get them to redeem, the better yearly return you're going to get for your money. Of course, this means looking for properties that are under a mortgage.

Assignment

Maybe you want to make a quick turnaround on your tax lien investing. Never believe anyone who thinks there is only one specified way to make money from these endeavors. In fact, there are multiple ways to skin a cat and you would be wise to learn all of them. One such way is to assign the document to another investor. This doesn't work in every state, so check with your local laws to see if you have clearance to sell your papers to a third party. There are several websites that exist for the sole purpose of allowing you to list what you have to sell. There may be a nominal membership fee to join these sites, but if it lets you make a quick profit, it may be worth it.

Bring In the Experts

One of the enticing things about tax lien investing is that it lets you take a step away from the corporate world. You can be your own boss, make your own decisions, and succeed or fail on your own merit. But don't let that stop you from bringing in help if you need it. If you can find a more experienced partner, you can gain a foothold in the field and gain experience that might take years otherwise.
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About the Author

If you'd like to learn more about tax lien investing, contact CivicSource. Visit the following for helpful and up-to-date information: http://www.civicsource.com.