Now this is a scenario that many real estate investors might be familiar with. Get a list of motivated sellers and send them a letter or postcard. Those that are motivated to sell give you a call and you buy the house. I have done this many times.
Many of us might have worked the pre-foreclosure lists to do short sales, but these take a long time to work out and may not work out if the bank will not cooperate.
On the other hand, people who are about to loose their home for taxes are usually highly motivated. More often than not, they don’t have a mortgage, otherwise the mortgage company would probably be making sure taxes are paid. And they don’t want the government to take their house, you on the other hand, they might be more willing to work with.
So Tom recommends two lists here . . . one a list of houses that have about 30 to 45 days before the redemption period is over. If they don’t pay their taxes and redeem them, they will loose the house. The other list is those that have a lien or deed about to be sold in 30 to 45 days.
Tom’s back end office or command center has the tools to get these lists in the right time frame and has the post cards ready to send. You just tell the staff where and they will send the post cards for you with your return address and phone number. Some of the motivated sellers will call you. Many of the postcards will come back, and then you need to get busy with some sort of skip trace program and find these people or their heirs (the golden sellers if you can find them).
You will then work with the seller to buy their house, maybe for just the taxes owed – and maybe enough to solve their problems and give them moving money. Then you can flip or rent the property. Tom highly recommends the rent scenario.
On his rental scenario he is looking for houses in stable areas, with stable jobs and avoiding the usual properties . . . declining areas, busy streets, weird houses (stick with cookie cutter houses), less than 2 bedrooms. Then he personally dolls them up to the nines to rent out. He can have a $60,000 to $80,000 house for a purchase price of a few thousand dollars (or if he gets via lien or deed a few hundred) and put several thousand into repairs and be all in for $20,000 or less. And in 3 to 5 years he can be free and clear in the property and be making pure cash flow.
And when he does get a house that is just not in his area where he would want to hold, he wholesales it for a profit and can use that to buy more liens, deeds, houses or rehabs. He had many many many scenarios and ideas. And one of the key aspects of his program that was interesting is that his back end office staff helps you find the lists, do the marketing and then once you have a deal, he and his teal will take a look to see the best way to work the deal for maximum profit. And I also note that with in their back end office “dashboard” you can also post that you might like to partner with or flip.
So say for example you bought a lien in hopes of getting the interest in a high interest state and accidentally end up with the house. You can post the house out to the group and find another student who might want to buy the house or partner with you on it to fix and flip.
Note, that Tom is holding a Bootcamp in Tampa this week end – June 21st & 22nd. He offered this bootcamp, along with the home study course, his training and support dashboard and a ton of other bonuses for $2397. He asked $1200 now and $1197 after the event. . . if you wanted to attend this event or find out more about it . . Download Sales Flyer that you can email or fax in . . note that to attend the event that they only have one seat left, or you can opt for a live stream or just the Elite Tax Sales Training Course.