Ward,
Surely you jest about working only 4 days a year. Nope, I now only invest in MS...and truthfully only work the auction 4, maybe 5 days per year. They have on average 6-9 million $$$ in liens every year.
you probably have to eyeball the properties that secure the tax liens before the tax auctions, ...have done it for so long here that I know justs about every nook and cranny of the country and do very little due diligence. ......and...it is almost impossible to checkout 12,992 parcels before the auction. That is what we had this time. Plus 98-99 percent will be redeemed. DO NOT BELIEVE the TV gurus who say otherwise....it just ain't gonna happen.
and you must be involved at those times when your tax liens finally pay off, and alternatively, when they don't........ The county sends me a check every month for those redeemed during the preceeding month nd I just check them off my list on my computer. Was in programming for years and have written all my programs so it really is no big deal to download the list, process it and use it.
At the end of the two yer redemption period,IF I am lucky if I get three maybe four "non-junk" pieces of property. I look it up at home on the computer and if interested will do something with it, otherwise let it go back.
And I'm also told that there's been a sizeable increase in the number of competitors that abound today versus in the "good 'ol days...making you work a lot more for your money now.
WOW! WOW! You are SPOT on here...the "Good Ole Days" of about a dozen or so of us doing it are gone!. We got investor groups. people from Omaha, Tampa, Seattle, St Louis, NYC...you name it...and now the competetion can be outrageous. Last year was very gentlemanly for some reason and this year was BRUTAL.
However, what's really impressive is you netting a 15% return on a 3% loan. And, if you somehow did that via a Roth IRA I'd have to take you to lunch.
Woul love to come out and have lunch, MY TREAT. If my wife's condition improves such that I can, will call and let you know and we will do it.
However, right now my only concern is her health and condition.
Good Luck, God Bless, Take Care.
Bill H
