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Excited But Tired

May 18th, 2011 · 16 Comments

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!

Ned

Tags: Tax Liens

16 responses so far ↓

  • 1 Baltimore Bidder // May 19, 2011 at 7:40 pm

    I busted… 38 bids and not a winner. I looked you up and it looked like you didn’t fare so well either. Lots of high bids, I guess people really want that interest, now it be interesting to see how many owners take the bids.

  • 2 Ned // May 19, 2011 at 8:41 pm

    Baltimore Bidder,

    It’s tough. I have been shut out of auctions before. but you learn with every one you do. You’ll do better next time.

    Actually I did better than ever before, over 100 liens. I was not bidding under Crab Properties LLC for this auction. I am also optimistic that we will get some properties from this sale. – Ned
    PS thanks for commenting.

  • 3 Liz Benitez (6 comments.) // May 24, 2011 at 1:15 pm

    Wishing you LUCK 😀
    Liz Benitez´s last blog post ..Rental Property Investment

  • 4 A-1 // May 24, 2011 at 11:23 pm

    Hey Ned,
    Great blog site. Glad to see you did well in the tax lien auction. I took the class given by Tax Sale Attorney Anthony Onwuanibe that I found on your site back in March. He really taught me a lot and how to start off being a small investor. This year I won 7 liens so I’ll see what happens. But Anthony was a great resource to teach me stategy and were to focus my time. Keep up the good work.

  • 5 cyprus properties (1 comments.) // May 25, 2011 at 5:37 am

    Wanted to wish you Good Luck on bidding but I believe is too late now. I hope you are right for the economy but I personally believe that unfortunately economic crisis is not going away in 2011 we had budget deficits during 2010 🙁

  • 6 Ned // May 25, 2011 at 4:48 pm

    A-1,

    Congratulations on winning some liens. I see a lot of new/small investors that don’t get any liens. How many did you bid on? – Ned

  • 7 A-1 // May 25, 2011 at 5:17 pm

    I bid on 11 but researched 100. I took strategies from class and added some of my experience to figure out how much to bid. The question is how many will be redeemed. Thanks A-1

  • 8 A-1 // May 25, 2011 at 5:25 pm

    Ned
    I would be interested in learning about your intern program would you geta moment. But I do work full time so I’m not sure if it is an option for me. A-1

  • 9 Yury // Jun 3, 2011 at 1:47 pm

    Ned – best of luck and thanks for the insights!!

  • 10 Sire (6 comments.) // Jun 11, 2011 at 2:46 am

    Hey Ned, great to see you were able to knock off a little earlier than last time mate, and even though I may be a little late I wish you the best of luck.
    Sire´s last blog post ..The Bellagio- The Jewel Of Las Vegas

  • 11 Kevin Hughes (1 comments.) // Jun 13, 2011 at 9:54 pm

    Those are some impressive numbers… It seems like it has turned into a numbers game. To do due diligence on that kind of volume would make anybody tired even with good systems.

  • 12 Ned // Jun 14, 2011 at 2:34 pm

    Kevin,
    It is a numbers game. Just about all investing is.

  • 13 East Bay Homes (1 comments.) // Jun 24, 2011 at 11:45 am

    This reminds me of the old RTC days of the early 1990’s – except real people are snapping up these real estate deals instead of large corporations.

    Good luck to you!

  • 14 Josh // Jul 17, 2011 at 5:01 pm

    Did you start receiving any redeemed liens from the city yet? Curious how your making out now that redeeming started….

  • 15 Ned // Jul 17, 2011 at 11:51 pm

    So far I have received one check. But I know others have redeemed and I just haven’t gotten the money yet. I also know a few of my liens were voided.

  • 16 Yury // Jan 9, 2012 at 12:27 pm

    Ned – last week I have gotten a check for the property that was redeemed in August 2011. I guess the City found a new way to borrow money short term interest-free. I was told by the tax sale people that I (emphasis) have to check the website and keep my eye on the redeemed properties. How do you deal with this if you have a bunch of liens?

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