Now I Can Relax
Well it is 11:30 PM and I can relax. Last year I was up all night entering bids so this is a welcome relief. I just finished uploading 1200 bids for tomorrow’s Baltimore City Tax Sale. Thanks to a joint venture with other investors, we have a pool of money that is 4-5 times what I have bid in the past, so this is significantly more bids than I have ever done . With the help of some interns and my partner we have inspected over 1500 properties.
A New Strategy
Working with a bigger pile of money has led to a new strategy. In the past I have mainly gone after vacant houses, thinking this would increase the odds of getting a property. I have hit a lot of home runs with that strategy. Having more money to place means we must buy more liens. This has led to less stringent inspections and more bids on good homes.
Baltimore’s Tax Sale
Baltimore City’s tax sale is in 8 batches tomorrow all ending one hour apart starting at 9:00 AM. This year 10,800 properties are going into the sale. That is a couple of thousand less than last year. Perhaps that is a sign the economy is getting better.
If you are bidding tomorrow good luck. If not wish me luck!