‘How soon will I make money if I start investing in tax liens? What about tax deeds?’ As the old saying goes ‘If I had a dollar for every time I am asked those questions…I would be wealthy!’ The fact is, there is no real way to accurately answer those questions. For liens I suppose I could answer with, “as soon as the property owner redeems.” As for deeds I could respond by saying, “as soon as you sell or rent the property.” While I always appreciated the ‘how soon’ questions and see them as a sure sign of enthusiasm, this type of enthusiasm most commonly disappears when challenges are faced in the investing process.
Enthusiasm is not a substitute for motivation. Proper motivation is a result of understanding the why’s behind your desires. When a person is properly motivated they will also enjoy the characteristics of consistency and patience that play a major role in obtaining successful results. Early on in my career, I took part in several sales training programs. Regardless of whom the instructor was or the program they were teaching, they all agreed on a couple of points. Point number one; sales are a numbers game if you see enough people you will make the sale. Point number two; every no you receive brings you closer to a yes. I believe that this simple philosophy, which is part of the salesmen’s creed, applies to a number of other areas in life as well – including tax lien and tax deed investing.
Tax lien and tax deed investing is a numbers game. If you consistently obtain lists and evaluate the properties on them, you will find great properties to invest in. Every time you review a list, evaluate the properties, and place bids. If the bids are not successful then you are one step closer to finding the right opportunities with the right bid. One of our coaches is named Julie. She consistently warns her coaching clients that speed kills. I agree with her. It is important to exercise patience and consistently follow the process that we have taught you. Your reward for doing so will be financial success.
In conclusion, I would like to share a story with you about a client that I have been working with. I believe it illustrates the points I have been making. I’ve been working with Lisa since September 2012. She is and was very enthusiastic about the program and was very excited to get started investing in tax deeds. In fact, prior to my working with her, she had already listened to all of the cd’s and project protégé calls several times. I was highly impressed with her level of knowledge. We started working through several lists and reviewing several opportunities. To make a long story short, Lisa participated in a number of sales, some online and some that required travel. For numerous reasons including canceled sales, limited investment budget, properties redeeming at the last minute and other bidders paying crazy prices – she was not able to obtain a deed. Lisa remained positive, patient, and consistent through the entire process. Lisa’s reward was the purchase of a great tax deed property in Florida. A renter that pays Lisa rent monthly occupies the property while it is on the market. Congratulations to Lisa on her successful investment! I believe that all of you will find the financial success you desire by being consistent and patient in your pursuit. There’s another saying I like a lot; “don’t quit five minutes before the miracle.”