Welcome to our 6th episode in our new podcast series in which we talk about all the great ways you can become financially independent with tax sales. We’re husband and wife team, Jack and Michelle Bosch, and we’ve done nearly 3,500 REI deals now and our specialty is tax-delinquent properties.
We’re serial entrepreneurs, investors, educators and best-selling authors and we want to share with you the ways to make money with real estate in situation where homeowners haven’t paid their property taxes.
In order to get these deals, we need to find out who these people are who haven’t paid their property taxes. There are actually lists of these people, whether it’s for land or houses…
So, in today’s episode, we’re gonna to tell you exactly how to get that important list and what information needs to be on the list so you can scoop up those profitable tax delinquent properties before they hit the auction.
So, thanks for tuning into our 6th podcast episode. Here we go…
Listen and enjoy:
- Why we are interested in buying properties from people who are property tax delinquent
- Why you may have to talk to several different county offices and people before landing on the list
- Why you want the tax collector, assessor and IT department to be your friends
- What you should as the IT department for
- Why the Use Code is such important criteria on your list
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Mentioned in this episode:
- Jack and Michelle’s website and their free gift for you Forever Cash Freedom
- Our Tax Lien/Tax Deed U.S. States spreadsheet
- Jack Bosch
- Agent Pro 24 7
- List Source
- Core Logic
- Info USA
- Land Profit Generator
- Flip It Fast Formula
Intro: Are you ready to transform your financial future? Here’s your chance to see inside the mindset of self-made millionaires, Jack and Michelle Bosch as they go back the curtain on secrets that can make you rich. Discover how everyday people are breaking the norms and building empires from the ground up using a little known yet proven and time-tested wealth building real estate strategies. It’s my pleasure to welcome you to the ForeverCash.com podcast and introduce you to our hosts, serial entrepreneurs, investors, educators, and best-selling authors, Jack and Michelle Bosch. Strap yourself in for the ride of your life.
Jack: Hello everyone. This is Jack Bosch and…
Michelle: Michelle Bosch.
Jack: Wonderful. Welcome to the new podcast, tax-delinquent real estate investing podcast with jack and Michelle Bosch. We are very excited to bring you another episode. If you’re brand new to this podcast, what we’re talking about here is multiple ways to make money with real estate where the owners have not paid their property taxes. As you know in the United States there’s property taxes on every property that– whether its land, houses, commercial, residential, industrial, condors, time shares, everything has property taxes and the owners have to pay them. Because if they don’t, there’s multiple ways the government takes those properties away from those people.
There’s actually not just the traditional tax lien and tax deed methods to flush these properties out, and get them back into circulation and back into the hands of owners that pay the property taxes. We actually have right here in this podcast– podcast episodes five and six, or four and five, one of the two, are about tax liens and tax deed investing. If you want to know more about those specific ones you can go and listen to those, but there’s many other ways that you can actually circumvent the auction, and go directly to the owners and buy the properties directly from them. And that’s really what my wife and I – Michelle – what we have specialized ourselves on, or in this as you say. As you can tell from our accents, I’m not from here. I’m from Germany originally.
Michelle: And from Honduras, Central America.
Jack: All right. And we are married to each other since the year of 2001. Oh, wow! We’re getting up there right now in years.
Michelle: And we‘re actually working together for– yeah, since then I guess.
Jack: We’re working together and…
Michelle: A year after that I think.
Jack: And it’s mostly very enjoyable.
Jack: Mostly. So as a matter of fact, we have done over 3000 real estate deals together. And since the year of 2008 we also have been sharing how our unique ways of doing deals, how they work. And into this podcast, what are we going to talk about Michelle?
Michelle: Well, I thought we have given our audience a good foundation on tax lien and tax deed investing, and how they can use that to create incoming wealth. But I also wanted to talk to you about the concrete paths or vehicles or techniques that we have used to create– we call forward cash income using tax-delinquent real estate. And we’ve talked a little bit about the land. And also we’ve talked about using these techniques for homes. But we haven’t gone into details on how for either land or for homes you actually start this process. So…
Jack: Or how actually you go about it. Before we get started though, I want to point everyone. I want to first of all thank you for being on the call here, on the podcast call. And I want to as always, mention to you that if you go to www.forevercashfreedom.com, you can actually get a free gift from us. And the free gift is either it is a downloadable book, or it is a mini-course on the subject of what we call tax-delinquent real estate investing. Basically buying land and houses for pennies on the dollar, without ever talking to the bank, without competition, directly from the owners.
That’s also the subject of what we’re going to talk today about. Sorry to interrupt there…
Michelle: No problem.
Jack: I want to make sure the people listening don’t have to wait until the end to get their free gift. They can actually go get it right now too.
Michelle: Absolutely. So…
Jack: However, don’t leave.
Michelle: So basically we want to start at the beginning of the process for either land investing or home investing. And that’s really getting a list. This list, there’s multiple sources to acquire this list. The source that we have traditionally used over the last 12 years is actually the county. The county in which you decide to start working. So you ideally first pick an area, and then you contact the county, and you ask them for this list. And I’ll let Jack…
Jack: Let me actually jump in here, because you just mentioned something that I want to backtrack just a second, perhaps you jumped a little too fast into this here. That is, when we go– just if you have not listened to many of our podcasts yet, if we go and buy these properties, what we do is we do not attend the auctions, we do go directly to the owners. And in order to be able to go directly to the owners, we need to know well, who are the owners who haven’t paid their property taxes? What we need to get, is we need to get a list of all the owners that haven’t paid their property taxes, whether its houses or land or that depends on what you want to focus on. Now most people go after houses, right? Most people go after houses, why do they go after houses?
Michelle: You have higher possibilities for larger checks. It’s usually very time-sensitive, so you can get large checks faster.
Jack: And particularly also because they’re used to it.
Jack: People live in houses, they’re used to houses, they know how house look like, and people often go after land. However, we have done over 90% of our deals on land with…
Michelle: And we love land, because there’s usually no termites, no toilets.
Jack: And no tenants.
Michelle: No tenants. Yeah.
Jack: Exactly. There’s no tenants, termites and toilets. So that’s kind of our tag line why we love land. There’s really nothing that you have to worry about land, because it’s just dirt. There’s no foundation to make mistakes. There’s no foundation issues. There’s no mould. There’s no termites as we already mentioned. There’s no repairs. There’s no broken water heaters, no broken plumbing, there’s none of that exists in land.
I want to just make– before we go into how you actually go about these tax-delinquent deals, I want to keep opening your mind to the possibility that land is actually something very interesting. And if you want to know more about that, you can go to one of our websites, it’s called www.landprofitgenerator.com, again landprofitgenerator.com. And you can watch some videos about that and so on. But now let’s talk back about– let’s go back to what you had already started. They want to go after tax-delinquent people that basically, people that have not paid their property taxes. And why do we go after those again?
Michelle: Well, we have found over the years that there’s a high correlation with their motivation based on whether they have paid their property taxes or not. And if they haven’t, they are more than likely not as attached to their property and probably more motivated to sell.
Jack: Absolutely. That’s exactly right. So they’re very motivated to sell. In many cases they don’t want their property anymore. It might be if it’s a house, it might still have some issues with it, which is the perfect kind of property as a real estate investor you want to go after. You don’t necessarily get the deal at the beautiful, pristinely, rehab house. You get the deal on the houses that need some repairs and so on. And those are the ones that the landlord perhaps can’t rent very quickly. And those are the ones that he therefore falls behind on property taxes.
Whichever way you look at it, tax-delinquent property means opportunity. Yet nobody goes after those because nobody knows how to actually get the list. And that’s what we’re going to talk about today. We going to lift the secret lid and share with you how you go about, and go get that list of properties from the county, in this case. I already gave a little bit away, but where do you get the list from?
Michelle: Yeah. So the county is really the best source, but at the same time, it’s a source where it will take talking to multiple people until you get to the right person. Because you have to understand that people at the county are people that are focused on– maybe they are the county because it’s an eight to five job, maybe they just have two more years until they retire with a pension, from the county. It’s usually people that are not necessarily completely passionate and enthusiastic about helping the customers that are either walking in the door, or calling on the phone. It will take a few people to find the person that is the real go getter, and the driver in that department. And that department is usually either the tax collector, the assessors’ office, or the IT department.
Jack: Right. The thing is why do we go to the county is a question that we always get asked. I want to quickly address that. Why don’t we just go like everyone else to a list service, like there is list service like info USA, Core Logic, ListSource…
Michelle: Agent pro.
Jack: Etcetera, etcetera. Why don’t we go– and even some less well known ones but they are also very good like agentpro247. So AgentPro247.com, they are all very good sources to get lists from, but none of them, pretty much none of them offers as far as we have looked at them, none of them offers tax delinquent information. Because nobody actually goes after them usually because people don’t think about it, as a matter of fact Michelle and I belong to a mastermind of really-really high powered people and that mastermind is called Collective Genius, which basically the average– in order to even be able to be part of that mastermind you have to do at least 50-60 real estate deals a year to be even allowed in that group. And then you have to pay to be part of the group and it’s not cheap.
I stood up in my first meeting when I joined that group, and I’ve known the guy running the group for a while, but he kept inviting me for years, and I finally said, “Yeah let me check it out.” I walked up there and I explained to them what I do what we do, and I asked the question to the room of about 35 people that on average do at least 100-150 deals a year, I asked them, “Who here in the room uses tax delinquent data to go after motivated sellers?” One hand went up of the room and that actually was one of my students, that had I already made a big announcement had joined that organization.
The thing is nobody uses that data, so therefore– so that means that there is very-very little competition here, but if there is– the other thing is– the other reason why people don’t use the data is because the data services don’t have it. Therefore the way to get the data is to go to the county, to go to the source, to go to the actual originating source, where they keep track about who pays property taxes and who doesn’t. And to Michelle’s point, yes the people in the county they’re wonderful people, but yet they’re not motivated to go out of their way to do something totally different that usually people don’t ask for.
They’re very much used to a routine, they’re used to the same 20 questions every day, to the same kind of 20 activities every day, and they’re waiting until they’re 65 and they can take their pension. No, our county offers least offended, obviously there’s certain– there’s a lot of people in the county that love absolutely what they do. But the key therefore is to get that data from the county, and you get that from the tax collector, the tax collector has tax data.
Jack: So what’s coming next?
Michelle: And so the tax collector usually has what parcels are delinquent in their property taxes, the amount of back taxes and the years that they have been delinquent? What the tax collector doesn’t have though is usually the owner name and owner mailing address, and that information usually resides with the assessor. That’s why originally I had mentioned the tax collector, the assessor.
Jack: That’s actually correct.
Michelle: However, there’s one almighty person in the county that actually have access to both of these critical pieces of information about a property, and that is the IT department of the county, so…
Jack: IT stands for Information Technology just in case you don’t know. And in the– and that’s a very-very good and very sneaky point here that Michelle just made. Because most people even if they get that they want the tax link information, they go to tax collector and they ask for what’s called the delinquent tax roll. Now the delinquent tax roll is the list of all properties where the owners have not paid property taxes, and typically the answer from the county is like, “Well, we don’t know what that is, we don’t have it or so.”
Then they offer you perhaps if it’s a tax lien state they offer you the tax lien list, which is only the properties that are coming up for the next tax lien auction, or the properties that came up for the last tax lien auction where the lien did not sell. It’s not what we’re looking for because in the tax lien auction properties come up for, I mean liens come up for auction of let’s say 10,000 liens come up for auction, but there might be 30,000 delinquent properties in there, which are the other ones? The other ones are the ones that the year before came up for auction, and the year before came up for auction.
They’re no longer come for auction because the tax lien holders probably buy the next year liens again and it right away and so on. As a result the tax lien list is always only a fraction of what’s coming up. In a tax deeds state, in the state where they actually sell the auctions, then again if you do not exactly know how exactly tax lien and tax deeds work, go back to that session four and five, they’re the ones that talk about tax liens and tax deeds. You can look those up and then you have the foundation to know exactly what I’m talking about here, but I obviously don’t want repeat the basics in every single podcast.
If you go to a tax deeds state, they might give you the upcoming tax deed lists, but that’s only the properties they’re only really delinquent two, three, four, five years, and are coming up for auction. What we want is the list of all properties that are delinquent, whether delinquent a month, a year, two years, half a year, three months, six months, five years, eight years, we want all of them and that’s the only place we can get them is from the tax collector. And as Michelle said the tax collector though they do have the name of the owner, but they don’t have the mailing address, they don’t have the value of the property, they don’t have any– they don’t have the size of the property, they don’t even have to legal description in many cases of the property.
All they have is the owner name perhaps a piece of the legal description, and how much taxes is actually owed on the property. And that’s not enough to write them a letter because our approach is to go out go to — don’t do to the auction, but go directly to the owners by sending them a letter. And as Michelle also said the sneaky department to really go by, is if you don’t have all the information from the tax collector then what do you do? I mean you have to either know– you have two options when we started out that’s what we used to do before we actually got the idea that we could go to the information technology department.
We got the assessor, the tax delinquent roll, and then we went also to the assessor and got the entire assessment list from the assessor. Basically we got the list of all the properties in the county with all the information including mailing address, including property address, including value, including what’s it’s used for, and all those kind of things. Then we had– they all went to the tax collector and got the list of only delinquent one, which only had the owner name, and what’s was in back taxes and perhaps a piece of the legal description and then we had to cross reference these two lists which was a lot of work.
Jack: And then one day I don’t know who came up with it, perhaps it was Michelle, perhaps it was me in doubt it was Michelle she’s the smart one here. We said like, “Why don’t we just go to the people that run or are in charge of all data,” which is the informational technology department, and ask them if they can dip, if they can reach into the assessors database, and reach into the tax collectors database, and combine those two and give us exactly what we’re looking for, and all of a sudden all the problems were solved.
Now when you do that you have to get the actual authorization of both departments, in many cases to do that you get– you’d call them up and say, “I want to talk to them,” or you talk directly to the information technology department, they will sometimes go get the authorization for you, or if not they will tell you who to contact to get the authorization from, and then once you have that authorization, then they will just pull this data for you and send it to you literally by email…
Michelle: Yeah, by email or in a form of a CD and it’s not very expensive.
Jack: No, in some cases it’s free, in some cases it’s $10, the most I think we’ve paid was $300 or so, $350 dollars the most for a really big county, where we got something like 37,000 tax delinquent properties.
Michelle: Records, yeah.
Jack: And where we have done tons and tons of deals based on those 37,000 records. I mean literally, we’ve done like a couple of hundred deals based on that, making hundreds, and hundreds of thousands of dollars based on a $350 expense. Now the question that remains now is what should you ask that information technology department for?
Michelle: Yeah, and so number one is you should ask for this information to be sent to you either in the form of an excel worksheet or an access database, and in either case they could probably put on a CD and snail mail it to you, or they can email that information to you if it’s not a large file.
Jack: If they insist that they send it to you in a text file that’s fine too…
Michelle: That works too yeah.
Jack: Because text files can be very easily imported into Microsoft excel. And now by this point– sorry to interrupt, but if you’re scared of how to process that, if you don’t have excel knowledge don’t worry, there are services out there, people out there that can do that for you, so that you can very simply just go to fiverr.com if you’ve heard about them that’s like the number five F-I-V-E-R-R fiverr.com, or you can go to a place like Elance.com, and juts find somebody.
Put up a project says, “I need somebody that knows Microsoft Excel very well or that knows Microsoft access very well, and who can take this database and give it back to me in very simple excel, or in a format that I can read, or the text document and convert it to excel, give it back in a format I can read.” And by the way you don’t have to write all this all down, you can go to our meeting notes there on forevercash.com/podcast, again you can go to www.forevercash.com/podcast to also get a copy of this– to listen to this podcast again there, and below it there’s a little transcript of the podcast as well as a list of the links that we have mentioned right now here in this podcast. So make sure you go over there to check it out.
Michelle: Okay. So then now that we have a format, the next thing that we want to make sure we have, are all the correct fields for this list. We want this list to contain the parcel number or account number. We want it to contain the side address, you know if it’s a home we want it to know what that– either it’s the side address or it’s the short legal description, either way will work. You will want also a field showing you the amount of back taxes owed. You will also want the owner’s name, the owner’s mailing address.
Jack: That includes streets, states, cities, zip. And even sometimes the counties give you a CO, meaning that basically…
Michelle: In care of, yeah?
Jack: In care of that if somebody is like elderly, and their property taxes are being paid by their kids, by their children whether the son or daughter, then you want to have that too. Because you want to talk to the person that is basically has all the senses and can actually communicate with you.
Michelle: Yeah, and if you have actually the city, state and zip, you can then later on as we’re going to talk about, you can sort and basically start by mailing to the people that are out of state or that a little bit further away from the actual property site. So you definitely want the owner mailing address not to just contact the owner, but also to serve as criteria to eliminate, or to start focusing on certain records first.
Jack: If I jump in here for a moment, very simply explained, the further away they live from the property often– and that’s called also the absentee owner, the farther away they live from the property, the harder it is for them to go there, the harder it is for them to maintain their property, the less emotionally involved they often are into property. So therefore, given that they already stopped paying their property taxes, the once that are furthest away or further away, out of that state ideally, are the ones that are probably going to be most eager to give you their property.
The ones in state you can also use, but if somebody lives right next door to their property, and they haven’t paid their property taxes that means you probably want to be a little bit careful in that property. Therefore, what you can do if we have the mailing address of the owner, you can sort them by zip code. And just by doing a couple of things like that you can say, if you have let’s say Los Angeles County and if you sort them by zip code, and anything that does not start with 90 is probably a little bit further outside of directly LA. I’m just reaching out on a linear [ph]; I don’t know exact zip codes of LA, but I know Beverly has like this– what is it 90210.
Jack: That’s reminded me if of the 90201. I know my television shows from back when I was a teenager. The thing is basically if something has 95, it’s probably still in California, but it’s not in LA anymore. If something is 93, it’s the same thing and so on and so forth. So by just sorting by zip code, you can easily identify the in state ones that are further away, and then also write to those first.
Michelle: To the out of state you mean.
Jack: To the out of state but also to the in state that live a bit away.
Jack: Thanks for the clarification.
Michelle: No problem. And so then the next key information field that you want to have is the property size. You want to have, like I said earlier, the short legal or the side address. You want to have also the purchase date, if that is available…
Michelle: It’s not– yeah. Ideally, but if you don’t have it, that’s fine. You want the use code. And if possible the assess value, because the assess value gives you a good indication– you could always back into it through the back tax amount, but the assess value gives you a better, a faster indication of what market value is for a specific property.
Jack: Right, because other than in California where through proposition 13, they locked down the assess value to the purchase price of the property, but other than that in the rest of the country, if you have a property that’s worth a million dollars, it’s not going to have a tax bill of or base taxes of $100 a year. It’s going to be a $50,000 a year or $30,000 a year of property taxes or $10,000 a year whatever the number is, but it’s going to be fairly high. On the contrary a property that’s only worth $10,000 is not going to have a $10,000 a year tax bill. It’s going to have a 100 or 200 or $300 a year tax bill. Therefore just by the amount of the base taxes you can kind of make an assumption of what the value of the property is. And that helps you select your criteria there.
Now one of the things that Michelle just flew over right now, was one the criteria, one of the pieces of the list, and that was the use code. I just want to spend 30 seconds on the use code, because the use code is really-really important if you can get it. For example, you might be listening to our podcast because you’re starting to be interested in land. Well, or you might be listening, you might be saying like,” Even though Jack and Michelle love land and they’ve done over 3000 deals and so on, I still want to do house” and that’s fine. We teach both, land flipping and house flipping equally now, because we do it equally.
The thing is, if you know what the property is used for, you can use that to distinguish between the land properties, and the house properties, and it’s another filtering criteria. For example, if the use code is vacant land residential, well then it’s a vacant residential piece of land. And if you’re going after houses, you want to eliminate those. So basically you are going to sort them by use code if you have that, and the eliminate everything that doesn’t please you. It’s as simple as that. It’s another criteria that you have.
By the way again you don’t have to write all these different pieces of data down. As a matter of fact, as an unannounced gift, we’re going to give that to you, the list of fields that you need to ask for. In the notes there’s going to be an area where you can click on, and actually download this sheet that tells you what the pieces of information that you want from the county are supposed be. So very simply you can go to our meeting notes at www.forevercash.com/podcast. And if you go there, look for podcast number– where are we here now? Number six?
Jack: Podcast session six which talks about how to get the list, and getting a delinquent list, and right there you can download that too.
Michelle: Yeah. And so the next thing that you also want to have is in– it’s something that distinguishes whether the property is free and clear or not is whether there is any other liens against the property.
Jack: And sometimes you not necessarily get that too often from the county. That’s another one of these optional fields. That if you can get it, then great. But the good news is actually something about the tax-delinquent property is that by sheer definition, about 80% of all tax-delinquent properties are free and clear.
Jack: And it’s very simply because if you have a house, and you have a mortgage on that house, typically the bank will not let you pay the property taxes on your own. Instead what you do…
Michelle: It’s part of your mortgage payment usually.
Michelle: And they hold it in escrow, and you send out your payment and they hold it on escrow. Then once or twice a year they pay the property taxes for you. So…
Jack: They’re in charge.
Michelle: Chances are most of the properties in this list are free and clear properties.
Jack: Because the only properties where the owner is actually charged of paying the property taxes themselves are the properties where there’s no mortgage.
Michelle: Where there’s no mortgage. Yeah.
Jack: Exactly. Where there’s no mortgage on the property, and therefore they’re in charge. So really this is another benefit of going after this list, that it’s totally tax– well no, that it’s only mortgage free. That’s what I wanted to say. I’m getting confused and gobbling here my language.
Michelle: So now if somebody decided to go down the land flipping part, what are some — quickly in summary– what are some of the sort criteria? Once they have the list…
Jack: Okay. All right.
Michelle: What are some the things that they need to be filtering the list by?
Jack: All right, cool. That’s a good thing. Now, obviously depending on whether you go for houses or for land, you got to sort. You’re going to go after different kind of properties, I already touched on that. Based on the use code, if you go after houses, you select only the ones that actually say, improved or said, single family residential or commercial or whatever you want to go after. If you want to go after land, you eliminate all the ones that are improved and you go only after lands. Well that’s one sort criteria. Depending on if you want to go after land, you eliminate all the houses.
Then the other area is value. I told you that ideally you want to ask for a list that includes the assess value, or at least a base tax amount, or if you don’t have that, even the back tax amount gives you an indication of how valuable the property is. Because it tells you a property that has $100,000 in back taxes, chances are it’s not a $5,000 property.
Jack: That’s probably a property that’s worth more than $100,000. If that’s one year worth of back taxes, it’s probably a property that’s worth a couple of million dollars or more. Therefore, you want to keep– you have with those pieces of date, you have an indication of how valuable the property is. And you want to use that to further filter your list.
So for land you want to typically stay under $100,000 and for houses you want to typically stay above $80,000 because it’s often hard to get a deal done that’s worth much less than $80,000. That’s just between repairs and between back taxes and between– if you want to just whole sale it to a whole seller and so on, in between all these other things that need to happen for the deal to happen. It’s typically hard, very hard to make a deal happen if it’s worth less than $80,000. So again based on the– what you go after, your filtering criteria have to be different, and there is a few more and I will probably cover those in additional podcasts.
Michelle: And so then once you have the list, you’ve sorted it out, you’re ready, you have your list of records that you are thinking of sending a letter to, the next step is really deciding whether you are going to– what type of letter to use and that’s also a discussion for another podcast.
Jack: Right. And again, if you are doing the land program, we simply use one letter and we are getting a response rate of between 10 and 20%. I’m not kidding, that’s– in a house world, the response rate is much lower. At the same time and because of that, you need to actually send out a series of letter. Now we have all these letters in some of our systems, if you ever want to check into that you can go on our website of Forevercash.com, you can go on our website Jackbosch.com. You can go to the website– I guess I mentioned to the website www.landprofitgenerator.com or you can go to the other website which is www.flipitfastformula.com.
You can check all of those out and snoop around a little bit but the thing is, I hope what you’ve gotten from this message here is that by targeting the tax delinquent property list, you are targeting a list of highly motivated people who the option is between losing their property to tax sale and not getting anything for their properties anymore. If it’s a tax lead for closure, they get zero zip zilch nothing for their property, if it’s a tax deed sale chances are they also get nothing for their property, or selling it to you for a discounted price which is about having cash in their pocket.
They are highly motivated, they already stop paying their property taxes, they are not very attached to these properties. They want to just get rid of them, in many cases they’ve inherited them, they just don’t want them anymore and you now by sending them directly a letter can tap into that vast resource of tax delinquent properties.
There is over two million tax delinquent properties that give and given time in the United States based on analysis I just did with a friend of mine and you can pick those up at pennies on the dollar. And what I also want you to take from this podcast right now is that depending on what kind of property you want to go after, you need to be able to sort your list by specific criteria, by value, by amount of back taxes, by location of the owners, and few other things like that.
And if you understand that, then you start getting an understanding that real estate investment is not just a matter of a treasure hunt. Real estate is not just a matter– is not at all a matter of just getting lucky, is not just– real estate investing is…
Michelle: It’s a process that you can replicate and that you can have it be sustainable, not just entertain you here and there.
Michelle: You know, a deal that happens by luck, but that you can actually turn into an actual business.
Jack: Right. You can make it predictable, you can make it an actual business that you know that if I focus on this kind of property owners and I focus within that based on the criteria which was talked about on a subset of people and I send them a series of letters or just one letter if it’s on land, a certain amount will respond and you actually get to break it down into almost a science that allows you to literally focus how many deals you are going to get from each mailing that you do, and then how much money are you going to make on each deal and it literally allows you to build a business. And that’s why we like Rosette, because of their core.
We are business people, we have multiple businesses, we run a couple of million dollar businesses. We are about to start another one, we have a rental portfolio and it’s all about making it such that’s it’s actually predictable and simple to just follow steps A, B, C, D, E, F but it’s really not more than A, B, C, D, E, F and then you have done it. It’s a simple four, five steps to make money with these techniques because– have I mentioned banks anywhere here, have I mentioned mortgages anywhere here although then there is none. Have I mentioned– no, I haven’t because tax delinquent real estate investing is the simplest way of real estate investing out there, yet it has some of highest margins and the highest profits that you will ever see in real estate.
Michelle: And you get to– on top of it or as an amazing byproduct or side benefit, you get to help really good people that have really bad reality problems and you help them with the burden of property ownership and you are really creating value out there in the market.
Jack: Absolutely. I mean we’ve been invited to weddings from people that sold us their piece of land for $300. We sold the property two weeks later for $12,000 but they were so happy to have gotten rid of that property that they even invited us to their daughter’s wedding. So you are helping them, you are helping people. So with that, we want to conclude the podcast for today.
Michelle: Thank you very much. This was a lot of fun and we look forward to being together on our next podcast.
Jack: Absolutely. So the last request I have for you is just again go to Forevercashfreedom.com for your free gift. Also remember…
Michelle: Give us an amazing review.
Jack: Absolutely. We would love to receive a review from you. So for a review, just go to podcast right there where you downloaded the podcast right now, there should be a review button. I would love to get an amazing review from you listening to this podcast right now and also for your free gift again go to Forevercashfreedom.com, and for the podcast notes and the list of the fields that you want to ask the county for are also available at Forevercash.com/podcast. I know it’s a lot of links but the good news is in a podcast you can rewind, just press the little backwards 60 seconds and you just listen to it one more time. Write them all down and then go take action. Thank you very much.
Michelle: Thank you.
Outro: Thanks for listening to the Forever Cash Freedom podcast. Subscribe now for future content packed episodes on how to push the ejector seat on your financial hamster wheel. And discover our radical way to freedom and wealth through cutting edge real estate investing strategies. To learn more about living the Forever Cash lifestyle, investing smartly and becoming financially free, visit www.forevercashfreedom.com to claim your free Forever Cash starter gift today.
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