Ontario Tax Sale Property     

Providing free tax sale property listings for Ontario, Canada    


Streamline Your Tax Lien Investing Business




Source: Joanne Musa - United States

If you invest in tax lien certificates, there are certain things that you need to do in order to keep your investment profitable. By automating your business, you wonít miss any deadlines that might reduce your profit on your tax lien portfolio. You must keep track of when you bought your tax lien certificate, when subsequent tax payments are due, and when the redemption period ends. You will also need a system for recording liens with the county, sending out 30 day notices at the end of the redemption period, sending out requests to tax collectors for taxes due and tracking the profitability of your liens.

Letís start from the beginning. Before you even purchase a tax lien certificate, you need to contact the tax collector and get a list of the sale properties. Some tax collectors will give you a list with all the information that you need to do your due diligence, but most will not. You need a system for finding the information that you need, doing due diligence on the properties and deciding on which properties you want to bid on and just how much you can pay and still make a decent profit.

I use a software program to help me with all of this and data from LienSource, a provider of tax sale lists for some of the east coast states, including the two most popular tax lien states, New Jersey and Florida. In my software program I have all of the contact information that I need including the phone numbers and addresses of all of the tax collectors in the state. Also with my subscription to LienSource, I get updates on what sale lists are available and I have a calendar of sales for the state so that I know what sales are coming up. If I buy a list from LienSource, I can import all the data directly into the software program. The software program has itís own calendar that will show all the sales that I import as well as relevant dates for any of the liens I own, such as when quarterly taxes are due and when redemptions periods are over.

My software program allows me to print due diligence sheets listing the sale properties. I can take this with me to do due diligence on the properties. The program calculates how much premium, if any, I can pay for the properties on the list. It also allows me to print out a bid sheet listing all the properties, the way that they will be read out loud at the sale, with the maximum that I can pay for each property so that I know when to stop bidding. This way the emotion of the auction does not carry me away and I make sure that I am profitable. This is very important in New Jersey, where interest is frequently bid down to 0% and then premium is bid. You can easily loose any profit buy paying to much premium for a tax lien.

After I have purchased a tax lien certificate I use the software to track my lien. I keep track of all of my expenses, like recording the lien, and any subsequent tax payments made. I can also print out an affidavit with one click of my mouse to send to the tax collector whenever I make a payment. This is very important, because without that affidavit, you could loose any additional payments and the interest accrued on them. I can also use the software to track my current profit to date on any individual lien or my entire portfolio and it will let me know when I need to pay subsequent taxes and when a lien is ready to foreclose. I can even track the progress of the foreclosure.

I hope by now that you realize that investing in tax lien certificates is not just going to tax sales and buying tax liens. You need to do due diligence on the properties, keep up with the tax liens that you have by paying the subsequent taxes when they are due, and start foreclosure procedures when the redemption period is over. All these things take some time and effort on your part, but if you put in the time now, you will reap the benefits later. Find your own system for doing these tasks to help you streamline your tax lien investing business.

Joanne Musa works with investors who want to reap the rewards of tax lien and tax deed investing. She is the creator of the Tax Lien Ladyís E-books, available at http://www.taxlienlady.com/store2/sales.html. For more information on Tax Lien Manager ô, the complete system for tax lien investing in New Jersey, go to http://www.njtaxliensoftware.com.



Next: Investing in Tax Lien Certificates - Three Ways to Profit

Previous: How Profitable is Your Tax Lien Investing?



Add to Informational Site Network
Report
Privacy
ADD TO EBOOK








Tax Sale Property Listings

Canada:
Current Ontario Tax Sale Properties - EBook Guide

Ontario Tax Sales - 2018
Ontario Tax Sales - 2017
Ontario Tax Sales - 2016
Ontario Tax Sales - 2015
Ontario Tax Sales - 2014
Ontario Tax Sales - 2013
Ontario Tax Sales - 2012
Ontario Tax Sales - 2011
Ontario Tax Sales - 2010
Ontario Tax Sales - 2009
Ontario Tax Sales - 2008
Ontario Tax Sales - 2007
Ontario Tax Sales - 2006
Ontario Tax Sales - 2005
Ontario Tax Sales - 2004

Current Alberta Tax Sale Properties

Alberta Tax Sales 2014
Alberta Tax Sales 2013
Alberta Tax Sales 2012
Alberta Tax Sales 2011
Alberta Tax Sales 2010
Alberta Tax Sales 2009
Alberta Tax Sales 2008
Alberta Tax Sales 2007
Alberta Tax Sales 2006
Alberta Tax Sales 2005
Alberta Tax Sales 2004

Nova Scotia Tax Sale Properties

New Brunswick Tax Sale Properties

USA:
New York Tax Sale Properties
Texas Tax Sale Properties

Sheriff's Sales
Ontario Sheriff Sales Properties

Ontario Tax Sale Research

Listing by Date
Listing by Counties, Listing by Districts, Listing by Regions, Listing by Single Tier

* My Properties *


Latest Discussion Posts

>> Re: Pre Tax Sales by forcantel
>> Re: Pre Tax Sales by Pfm1011
>> Re: Pre Tax Sales by mountainman
>> Pre Tax Sales by forcantel
>> Re: Re: Re: Ramara in progress ... LOSING THE PLOT by mountainman
>> Re: Re: Ramara in progress ... LOSING THE PLOT by Dave2
>> Re: Ramara in progress ... by bee
>> Re: Re: Ramara in progress ... LOSING THE PLOT by mountainman
>> Re: Ramara in progress ... by bee
>> Re: Ramara in progress ... LOSING THE PLOT by Pfm1011
>> Re: Ramara in progress ... by mountainman
>> Re: Did you discover the problem with this property - worse then a CRA lien? by Dave2
>> Re: Ramara in progress ... by Jayz
>> Ramara in progress ... by Jayz
>> Re: Sign of the times by Ernestbidder
>> Re: Southgate results and how much was the lien?? by mountainman
>> Re: Re: Southgate results and how much was the lien?? by Pfm1011
>> Re: Re: Southgate results and how much was the lien?? by mountainman
>> Re: Southgate results and how much was the lien?? by Jack
>> Southgate results and how much was the lien?? by Pfm1011
>> Re: Mississippi Mills Results Please by Pfm1011
>> Re: Mississippi Mills Results Please by Jack
>> Sign of the times by Dave2
>> Re: Mississippi Mills Results Please by Pfm1011
>> Re: Mississippi Mills Results Please by Pfm1011

Visit the tax sale properties discussion boards


Articles

>> Escaping The Affects Of Tax Liens On Real Estate Investors by David Gass
>> Zeitel v. Ellscheid - Supreme Court of Canada by LexUM w/ Supreme Court of Canada
>> The Pros And Cons To Buying Foreclosed Properties by Tim Lee
>> Tax Sale Process by City of Kingston
>> Free Foreclosure Listings - Can You Find Good Foreclosed Homes On Free Lists? by Carrie Reeder
>> How TO Buy A Foreclosed Home by Gregg Hall
>> Cheap Property For Sale - How To Make Huge Gains by sacha tarkovsky
>> Secret of Prosperities - Buying Pre-foreclosure by Shawn Daren
>> Save Big Time Buying A Foreclosure by J. Brian Keith
>> Buy Real Estate Without Breaking Your Budget by Alex Peterson

View more tax sale property articles


Other

Tax Sale Property Books
Kindle

Tax Sale Property Links


Follow @taxsalesont



Privacy Policy