How much distressed property is available and where can you find it?
Today I’ll answer your questions about tax delinquent distressed property, and the topics I’ll cover are:
- What Are Distressed Properties?
- An Example of Distressed Properties in Los Angeles
- Start With a List of Distressed Properties
- How to Get the List of Distressed Properties
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What Are Distressed Properties?
What is a distressed property? It’s a property with overdue taxes or other debts.
For most investors, the safest and most predictable way to invest in distressed property is either by purchasing a tax lien certificate, sold in about half the states, or by purchasing a tax deed sold in the other states.
Newcomers find it hard to believe that there are so many opportunities to profit when investing in distressed property.
They can’t believe the property owners risk losing their property for just the back taxes. Or they think buying a property for pennies on the dollar sounds too good to be true.
An Example of Distressed Properties in Los Angeles
In a recent workshop held in Alberta Canada I describe how Los Angeles, California, a state that sells tax deeds, had an auction where there were more than 7,000 properties on the list to be sold to highest bidder.
So what I have in my hand is the next auction in Los Angeles. Great. And this book is going to give us a ton of information.
Start With a List of Distressed Properties
Let me tell you what we have to start out with. We have a list of distressed property scheduled to be auctioned at the Los Angeles County tax deed sale.
Every property that’s in here is scheduled. It shows the back taxes and a brief property description.
I want you to know how many properties are in this book just so you can get a good idea. Now we’re talking about one county.
I’m not talking about California. I’m talking about Los Angeles County. I want you to understand that. So I’m talking about how many counties? I’ve got one county.
Distressed property number one. I’m starting on page 1. On page 1, all the previous information I’m going to give you in just a minute.
Now, I’m going to go all the way to the back of the book, and we’ll find out how many properties are scheduled for auction in Los Angeles County. I’m now on page 687.
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How to Get the List of Distressed Properties
Now you could call and get this actual book yourself if you want. You could call Los Angeles County or go to their website.
You’d call them, say you want this list of all the properties that are available in that county. And they will send you this. They’ll charge you 12 bucks or 20 bucks, whatever they do for it.
So on the last page, it’s 687 pages, they have a total number of properties in this auction, 7,113.
Seven thousand one hundred and thirteen. Now about 4,000 of these will actually come in and pay the tax. So you’re going to get an updated version of this as often as you can. What you would do is you’d probably update online.
You should get one of these, and you probably should get a Los Angeles County map and so on. Although there is a map in the book, a small one, it’s not adequate.
What I’m going to do now, and I just want to give you a sense for this whole thing, is every county will have some kind of list. Sometimes it’s just a little newspaper.
A great way to acquire distressed property is at a tax sale, where properties are often auctioned for pennies on the dollar.
There is an abundance of properties available. The Los Angeles tax sale list was only one example of one county in one state, and there were over 7,000 properties up for auction in Los Angeles County alone!
Now imagine how many there are in the entire country? Surely there’s a distressed property somewhere out there for you. Let me show you how to find it without making the mistakes that most people make.
If you’d like to know more about distressed property investing, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching with certified coaches.
Learn how to reap huge rewards from tax lien and tax deed investing! Get started today by taking advantage of Ted’s Free Master Class! Act now, it costs you nothing and will give you a big head start!
Ted Thomas is America’s Leading Authority on Tax Lien Certificates and Tax Deed Auctions, as well as a publisher and author of more than 30 books. His guidebooks on Real Estate have sold in four corners of the world. He has been teaching people just like you for over 30 years how to buy houses in good neighborhoods for pennies on the dollar. He teaches how to create wealth with minimum risk and easy-to-learn methods.