Coach Mitch’s Tax Delinquent Property “Ridiculously Simple System…” – Step 3 Post 31

Coach Mitch’s REFLECTIONS™

Step 3 Select your list of motivated sellers.

The list of your motivated sellers will be constituted of the owners of the type of properties that you want to deal in. You must choose certain property categories because there are simply too many tax delinquent properties for you to market to them all.

Every type of property that you can imagine will be listed in the tax delinquent rolls at some point. If the property type you want is not in one county, then it will be in a neighboring county. At some point, in an area near you, the type of property you want will show up as tax delinquent.

I told a new student recently that if he wanted an orange grove or a horse farm, that they would become available, at some point. Sure enough, the current list of tax delinquent properties showed both types of property were tax delinquent.

To be sure, I am not saying that the two properties are viable for the student or any buyer, but at least there are two leads, where previously there were none.  And they are good, motivated seller leads.

This is a good point. John Dillinger, the famous bank robber was asked, “Why do you rob banks?” The infamous answer was, “Because that’s where the money is.” That answer is right to the point.

This entire exercise is based upon the notion that some sellers will sell for a very low price. To me, price is the most important of all real estate investing considerations. As a group, tax delinquent sellers are the most likely of all sellers to sell cheap. Why do I concentrate on tax delinquent real estate? “Because that’s where the great deals are.”

Only you know what type of property that you like, and why.

Historically, I like vacant lots in certain, select situations. I also like single family houses. Lately, I am suggesting to students that they seek motels for a particular project. Small commercial is very available and can be very profitable. This could be your chance to get into multifamily properties or mixed use properties. They are all open to you, and more than just a few. There are even very large buildings available.

You will view the tax delinquent list, sort for the type of properties that you want to pursue, and using highly selective criteria that I have developed, you would key in on the best of the best leads.

The ideas that I have developed are very unique. Some have said that they are brilliant. To me they are obvious. However, there are only a few doing the kind of real estate investing that I advocate and train. My methods are highly proprietary.

Your home base will have thousands and thousands of tax delinquent properties. Not all property is equal. While it is certainly true that G-d is not making any more land, it is also true that you do not want to own some of the land he has created. You must be selective.

There is greater availability of certain types of properties than others. If you are looking for a hospital, then this database is probably not the best one for you. If you are looking for large apartment complexes, developing relationships with large financial institutions would prove more fruitful.

If you are seeking smaller properties that can be purchased at well below market pricing, then tax delinquent real estate is the main type of real estate investing technique that you should be investigating. No one is teaching the methods that I teach.

The simple fact is: as a group, tax delinquents are the most motivated of all motivated sellers. My system will allow you to locate large numbers of motivated sellers. What happens next is up to you. If you can create a good relationship with the seller, then you are 90% there. Once my “Ridiculously Simple System…” has put you in front of a tax delinquent seller, my Coaching course is then mostly about how to get the seller to want to work with you, over anyone else, and in the way that you want.

See Coach Mitch’s “Ridiculously Simple System…” ™ for details.

That is the Pot Of Gold.