Tax Lien Investing Explained (1030)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hi.

Steven Butala:                   Welcome to The Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:                            And I'm Jill DeWit, broadcasting from sunny Southern California.

Steven Butala:                   Today, Jill and I talk about tax lien investing explained. Yesterday we talked about tax deeds, today we're going to talk about tax liens. Jill is just as underwhelmed today about this as she was yesterday.

Jill DeWit:                            They are really good ... It's good. I mean, when you get going, if you're looking for another way to find some properties inexpensively, roll them in, these are all good things and you should, no matter what, know about them. When you see transactions come through, you see a treasurer's deed, you know what it is and things like that.

Steven Butala:                   In our little investing operation, Jill learns about it, once it hits our system. She doesn't know how it gets there. She's more involved in it than that, but she doesn't care I'll say.

Jill DeWit:                            Back in the day, how about that?

Steven Butala:                   If stuff hits the system, hits the CRM and it's in an acquisition process, it could be a tax lien, it could be a tax deed, chances are it's from the mailer. Like 90% of them are from the mailer, but once in a while, a lien foreclosure like we're going to talk about here in a second, or a tax deed hits it. The profit margins on those are extraordinary.r

Jill DeWit:                            Right.

Steven Butala:                   It takes a lot more effort and a lot more time, and quite honestly, a lot more raw IQ score to get through the tax deed and tax lien process as it does to send out mail. The point is, she doesn't care. She just has something to sell and she sees how much it costs and she's like, “Well, yeah. I can sell it for more than that.”

Jill DeWit:                            The last time I checked, because that's your role. It's part of why we have a beautiful thing. That's your thing.

Steven Butala:                   We have a beautiful thing together, Jill and I.

Jill DeWit:                            We do. No, honestly, I know about them. I know how to do them, but I don't do them. That's kind of your side of the sheet. My side of the sheet is all the other stuff.

Steven Butala:                   Yeah.

Jill DeWit:                            Thank you.

Steven Butala:                   Hey, before we get into it, let's take a question, a very, very lengthy question potentially, posted by one of our members on the landinvestors.com online community. It's free.

Jill DeWit:                            Lou asked, "Hi all. I just downloaded my first data set. Yay. The only problem is that there are no mailing addresses on the spreadsheet. Did I do something wrong? Luckily, this county had only 500 people that met my criteria, so I'm only wasting $50, but I would much rather get a list with mailing addresses in the future and not waste any money. Any advice is appreciated. Thank you, Lou." One of our moderators, Kevin, responded right away. "Lou, that is a real disappointment. In the future, you should spot check the data before downloading by clicking on a few of them at random and then copy the APN. You can look up each sample and make sure that the mailing addresses are included in the assessor data. Some counties have really bad data." That's the point here, and some counties may withhold mailing addresses, so it's real.

Steven Butala:                   That's exactly right, and then there's one more comment here, but the fact is this. RealQuest, and DataTree, and everybody else on the ChannelPro 24/7, they're data aggregators. That's what they do. They don't create the data.