The deal I offered today for assignment sold in less than 6 hours! Here is the link http://www.deangraziosi.com/node/10427

I was able to assign a deal that fast for two reasons.

1.) I created a buyers list first! Then I went out and found property that my investors were looking for. Which is what Dean teaches to do.

2.) It was absolutely a sweet deal. I actually had people fighting over it.

Here are the 10 steps:

1. Research – Consists of identifying areas where tax sales exist and the specifics of each sale.
2. Outreach – Process of determining how to reach the county agencies that hold tax certificate sales in which you want to participate.
3. Contact – Process of contacting the county agencies that hold tax certificate sales.
4. Preliminary information – Consists of gathering data about the tax sale and properties ibn which you are interested.
5. Determining yield – Where you calculate the factors that will affect your return on investment.

Redemption periods vary from state to state as do actual interest rates, yields and penalties. In some states the property owner has two years in which to redeem the certificate for the property. In other states, the property owner is not required to pay it off for a five to seven year redemption period. Using the redemption period to your advantage can significantly increase the yield you earn.

Every state secures the tax lien with the property that it represents and in most states tax certificates are the senior liens against a property. If the property owner fails to repay the certificate, you are entitled to apply for a deed and ultimately foreclose on the property, regardless of any other liens or obligations on the property.

When a property owner is late on paying real property taxes, the taxing entity (county or municipality) issues a tax lien on that property, while assessing an interest accrual penalty. The government could wait for the lien to be paid by the property owner, but in order to meet budget needs, would rather get the money now. In 32 states, a tax lien becomes a first lien on the property, and a certificate representing this can be sold at auction. Investors can then buy the lien (cash only) and receives the following in order: