Dec 22, 2021
Joyce and Danny Price have been together for 33 years and have been business partners in REI for over two decades. Based in Georgia, they have for the past three years concentrated their efforts on Property Tax Lien Investing. For those who don't know the term, a tax lien is a legal claim against an individual or business's property that fails to pay taxes owed to the government. The Prices think this area of investing is a safe way of making your money back pretty easily in the property market and are approaching 100 properties that were purchased via municipal auctions.
Joyce & Danny join me today to discuss tax lien strategies, property investment, and what led them on their 25-year real estate journey. They explain the importance of doing your research on potential prospects and how something as simple as an Assessor's page will really start you off in the right direction. They share tips on due diligence and advise those who wish to search for prospects nationally. They also discuss the value of attending auctions to practice picking your properties, researching them, and seeing how it would have played out for you if you did it for real.
"Research is probably one of the key components to being successful. And there's a lot of information- like Danny mentioned - out on the internet where people just assume or throw around what they've heard and doing that research is important" – Joyce Price
"As long as you do all that research upfront and you have a really good idea of what it is you're buying, then you're either going to get the property, or someone's going to redeem/get the house back, and you'll get your money plus a little bit of interest." – Danny Price
"Even if you're in one County to the next,
don't be afraid to call that tax assessor's office and make sure
that you understand not only the process of buying it at the
auction, but what their expectations are." – Joyce Price
"Don't hesitate to double-check their facts because it's a working instrument. It's moving all the time. The laws change constantly. So make sure you double-check them." – Joyce Price
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