Zero Risk Real Estate: Creating Wealth Through Tax Liens and Tax Deeds

Chapter 9

Tracking Your Investments

Formal education will make you a living; self-education will make you a fortune.

—Jim Rohn

Don’t miss a date. I can tell you from experience that with so much information coming in on auctions, lists, property research, and notices, it is easy to misplace something, or worse yet, miss a crucial filing or auction date.

Every business model comes with a golden rule. In real estate we know the mantra of location, location, location dominates. If there is anything I cannot emphasize strongly enough for tax lien and tax deed investing, it is tracking, tracking, tracking. It could very well mean the success or failure of everything you set out to accomplish by using this Zero Risk system, because no system can overcome human error.

Even if you decide to use a basic manila folder filing system and a wall calendar, it’s important to establish a workable system for tracking your portfolio to avoid the risk of missing important deadlines, notification requirements, redemption dates, and other actions that could have an impact on your return. In fact, you should establish a system even before you start compiling your tax lists so you can keep track of all available properties. You don’t want to miss out on a great deal just because you misplaced the information.

There is an old carpenter’s saying that goes “measure twice, cut once.” The idea is that once you have made the cut, you can’t go back and redo it, so make sure you have your figures right before ...