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| Coaching Programs for Tax Lien Investing |
By:
Brent Crouch |
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The internet abounds with offers for tax lien coaching programs. Whether via videos, DVDS, e-books or actual classes with tax lien investors, they promise to give newbie investors an edge over the competition with professional strategies and secrets. Sounds great-but in reality, you can find the majority of the information covered in these programs within free online articles such as this one. Some programs may offer state-specific rules and variations. This information is accessible to you at no charge if you just call the prospective county or visit their website. Often times in a class, you get only an hour or two of actual instruction from an investor, who will then direct you to DVDs or books for further instruction.
The typical cost of a tax lien coaching program is about $100.00. Again, most of the topics covered can be found online. If you really feel that attending a class will make you more comfortable with the tax lien culture, investigate your options before you enroll in a program. Look for a program that answers specific questions you may have, rather than general information you're probably already aware of. Few things are as boring as sitting in a class listening to the instructor drone on and on about subjects you're already thoroughly familiar with. It becomes especially frustrating when you shelled out good money to sit in that class.
The Real Secret to Success
Remember, a coaching program can only do so much for you. You still will have to do research of your own prior to every auction if you want to be successful. The instructor is not going to sit behind you at an auction, tap you on the shoulder and point out good deals. You have to develop your own analytical skills and knowledge so you can bid smart every time. Tempo, competition, and types of tax liens available will vary from auction to auction, and you need to be able to adjust your strategies and methods accordingly.
Avoid bidding against institutional bidders-whom you have scarcely a hope of defeating-by pursuing non-homestead properties. Remain in the auction room during lunchtime and stay on after the scheduled ending time of an auction, because oftentimes, unbeknownst to the general audience, the auctioneer will continue on during these periods. Everyone else will have gone to lunch or gone home, leaving you to pick and choose freely from the properties. Follow these tips and you'll be well on your way to fantastic success as an investor, with or without the questionable benefit of a coaching program.
Coaching Programs Can Only Take You So Far
There is no substitute for personal savvy. Lacking a solid strategy and trying to cover for this with a coaching program will get you nothing but an empty wallet. The tax lien investor needs patience, and good grip on reality, and willingness to put the required effort into traveling to inspect properties and researching county websites for appraisals and other vital information. A coaching program cannot teach these things to you. If you do opt for a coaching program, view it as supplementary, not fundamental, to your skill and knowledge. Remember, tax lien investing is not a get-rich-quick scheme. It is a get-rich-smart strategy.
About the author:
Brent Crouch is the owner of TaxLienProperties.net. He has dedicated this site to providing information on how to purchase tax lien properties for pennies on the dollar. http://www.taxlienproperties.net |
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