The other day I was asked a question by a client that took me by surprise. The surprise came from the timing of the question. He asked me the question after purchasing a tax deed on a house in Florida. His question was, I just got a tax deed now what do I do? At the risk of appearing rude, I will share my first thought with you. My first thought was you should have asked that question before you purchased the tax deed. After visiting with him for a few moments I learned that his tax deed investment was the first property investment he had ever made. He had zero previous real estate experience; however he did not let his lack of experience overcome his desire to succeed as an investor.
There are two things I observed from this new investor that I wish to share with all of our clients. The first thing I observed is that he had faith in the knowledge and training he had received. The client had gone through the protégé program and had participated in several of our training programs. He had faith that by carefully following each of the steps in the property evaluation process he would obtain a property that would make him money. I think faith is different than just belief. In my opinion faith is belief to the point of a personal certainty. Since the client had no previous experience he had to rely on his faith in the process. The process we teach at the U.S. Tax Lien Association is not based on theory it is based on real world experience and the application of that experience. Not only have we been successful following the process so have thousands of our clients. I find it interesting that some people that have years of experience as an investor still lack enough faith in the process to take decisive action and make an investment. Lesson number one if the process has worked for thousands of others it will work for you too.
The second thing I observed from our client is that he understood his "why". If you have ever delved into the world of motivation or attended more than one seminar, you are probably aware of the "why" concept. To keep it simple your "why" is the only true motivator that you possess. To say I am doing this because I want more money is not the real motivation. The reason you want more money or the things you will accomplish with more money are the "why". It is the one thing that pushes you past the obstacles that are in your way. Until you determine the real "why" in your life you will not be able to achieve at your highest level. I know that some of you want to know what his "why" is. A few years ago he left a high paying job to pursue his dream occupation. He soon found out that his dream occupation could not provide the lifestyle he desired from a financial stand point. Rather than give up his passion, he determined all that was required was more income. Tax deed investing has become the source of income he needed. I believe that once you determine your own "why" you can use tax lien or tax deed investing to achieve your financial goals as well.
In conclusion, I recommend that if you don’t know what to with a property after you buy it, that you ask us before you buy it. In fact that would be a great topic for my next blog post i.e. what are the first steps you need to take after purchasing a tax deed. Some of you might be surprised; it is a little different than your typical real estate transaction.