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Increase Profits in the Tax Lien/Tax Deed Business

Using Your NEER to Increase Profits in the Tax Lien/Tax Deed Business

Gaining contacts in the tax lien/tax deed business isn?t as hard as it seems. In fact you already have quite a few?

It can seem like you have few business contacts when first starting out in the tax lien/tax deed business. In reality you have a plethora of contacts available to do business with and to help you earn greater profits. You don?t need to go wine and dine a bunch of people you don?t know in order to find investors, look for someone interested in selling a property or even someone interested in buying a property from you. Instead you can turn to those within your NEER.

What?s a NEER?

A NEER is a naturally, existing, economic, relationship. The concept of the NEER was first created by Walter Haley, a businessman who went on to make millions just by using the connections within his own NEER.

Your naturally existing, economic relationships include; family, friends, other foreclosure investors, home inspectors, appraisers, contractors, etc., anyone in the home business that you might come into contact with in your daily forays. Don?t overlook these highly profitable contacts as a means of success. Your contacts already know you as a person and also as an investor so they?ll be more likely to buy from you than someone else.

Be Active!

It?s natural to have some hesitance to the idea of approaching your friends, family and business associates. Many new investors want to prove that they can make a success of their ventures in the tax lien/tax deed business without as they see it having to approach their family and friends for business. However, the first few sales can be a lot less stressful if you go through them with someone you know, whether as a business partner or selling the property to your fellow NEER participant.

You?ll be surprised at the interest those in your NEER express in the prospect of taking part in the tax lien/tax deed business. They may be interested in purchasing cheap housing or going into business with you. In fact almost everyone is interested in buying a bargain property and making some of the profits that you?ll be making.

When you are just starting out in the tax lien/tax deed business there?s no need to have connections. Those in your NEER are your connections.

How to Approach Your NEER

Most of the time it can be enough to simply tell your friends and family about your ventures in the tax lien/tax deed business. They?ll express an interest on their own and you can offer to let them jump in on a property or two.

Another good idea is to have a standard form letter made up for sending to business contacts. Once you?ve done a few foreclosed property sales you should have made a few contacts with electricians, painters, real estate agents and even other investors you?ve met at the tax sales. Keep their addresses or emails handy so you can send out a letter to announce the availability of a great fixer upper or good deal on property you?ve purchased. After all, everyone likes a good deal.

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