'Buy the roll up in your head': This phrase means to mentally calculate the total cost associated with acquiring a tax certificate before actually making the purchase.
Estimated Selling Price for Buildable Lots: The instructor estimated the selling price range for buildable lots to be between $3,500 and $8,000.
Why Check Comparables: It is advised to check comparables when purchasing land in order to:
Establish a realistic sale price.
Understand market trends before placing a bid.
Properties and Back Taxes: If original owners fail to pay their back taxes, the consequence is that:
The properties may be auctioned off due to delinquent tax payments.
Instructor's Market Value Estimate: The instructor provided a conservative estimate of the market value for the properties discussed, which was $3,000.
Buying 'Every Available Certificate': This strategy indicates:
Aiming for maximum returns by having interests across multiple investments in the same property.
Method of Tracking: The instructor recommends tracking purchases made during the property auction using:
An investment tracker spreadsheet to keep all purchase details organized.
Understanding Financial Terms
'Buy the roll up in your head': This phrase means to mentally calculate the total cost associated with acquiring a tax certificate before actually making the purchase.
Selling Price Range
Estimated Selling Price for Buildable Lots: The instructor estimated the selling price range for buildable lots to be between $3,500 and $8,000.
Importance of Checking Comparables
Why Check Comparables: It is advised to check comparables when purchasing land in order to:
Establish a realistic sale price.
Understand market trends before placing a bid.
Consequences of Non-Payment of Taxes
Properties and Back Taxes: If original owners fail to pay their back taxes, the consequence is that:
The properties may be auctioned off due to delinquent tax payments.
Market Value Estimation
Instructor's Market Value Estimate: The instructor provided a conservative estimate of the market value for the properties discussed, which was $3,000.
Strategy of Purchasing Certificates
Buying 'Every Available Certificate': This strategy indicates:
Aiming for maximum returns by having interests across multiple investments in the same property.
Tracking Purchases During Auctions
Method of Tracking: The instructor recommends tracking purchases made during the property auction using:
An investment tracker spreadsheet to keep all purchase details organized.
Additional Considerations for Property Investment
Understanding Local Market Conditions: It’s important to be aware of local market conditions, including demand, supply, and economic indicators that can affect property values.
Networking with Other Investors: Building relationships with other investors can provide insights and opportunities in the real estate market.
Diversifying Investments: Diversifying your investments across different properties and markets can reduce risk and enhance returns.
Understanding Financial Terms
'Buy the roll up in your head': This phrase means to mentally calculate the total cost associated with acquiring a tax certificate before actually making the purchase.
Selling Price Range
Estimated Selling Price for Buildable Lots: The instructor estimated the selling price range for buildable lots to be between $3,500 and $8,000.
Importance of Checking Comparables
Why Check Comparables: It is advised to check comparables when purchasing land in order to:
Establish a realistic sale price.
Understand market trends before placing a bid.
Compare similar properties for an accurate assessment to ensure a good investment.
Consequences of Non-Payment of Taxes
Properties and Back Taxes: If original owners fail to pay their back taxes, the consequence is that:
The properties may be auctioned off due to delinquent tax payments.
Potential investors should be aware of the risks associated with purchasing tax lien certificates.
Market Value Estimation
Instructor's Market Value Estimate: The instructor provided a conservative estimate of the market value for the properties discussed, which was $3,000.
Strategy of Purchasing Certificates
Buying 'Every Available Certificate': This strategy indicates:
Aiming for maximum returns by having interests across multiple investments in the same property.
Understanding the local demand and potential risks before making the purchase.
Tracking Purchases During Auctions
Method of Tracking: The instructor recommends tracking purchases made during the property auction using:
An investment tracker spreadsheet to keep all purchase details organized.
Regular updates on market conditions to adjust investment strategies.
Additional Considerations for Property Investment
Understanding Local Market Conditions: It’s important to be aware of local market conditions, including demand, supply, and economic indicators that can affect property values.
Networking with Other Investors: Building relationships with other investors can provide insights and opportunities in the real estate market.
Diversifying Investments: Diversifying your investments across different properties and markets can reduce risk and enhance returns.
Due Diligence: Conducting thorough due diligence on potential properties is vital to avoid costly mistakes and ensure informed investment decisions.
Legal Considerations: Understanding legal implications and requirements related to property ownership and tax liens.