Tax delinquent real estate, tax liens, and tax deeds are a great way to invest in real estate. Pre-foreclosure and foreclosure investing is significantly enhanced by Coach Mitch's system.

Coach Mitch’s REFLECTIONS

Starting out is scary

We always feel nervous when starting any enterprise or project. We are full of hope and optimism. We have visions where “only the good stuff” happens; where we come home with that BIG check; mama is proud, the kids are happy and secure, and the wife has an extra special treat for us.

Entrepreneurs know that we fail many, many more times than we succeed. It’s part of the equation. I have read that for stocks, we can handle six losses for each winner because when that seventh stock pick comes in, it will pay off all the losses and make us rich.

The wary survive

This idea, that we should plan for and accept losses is noxious. I have stated that, IMHO, the regular winners in stocks are those who have access to inside information.

I view putting monies into stocks, more like gambling NOT as investing. There are strategies which are expected to give a better chance of winning, but there is no surety of this.

I like “sure things”

As I see it, there is no downside if you are buying at 10¢, 20¢, or 30¢ on the dollar. Even if you are in a down market, you can always sell something at 50% of its current value and still make a hefty profit.

The difficulty is in finding the “deals”

Finding the “deal” is hard to do if you are seeking stock “buys” or anything else. Try to find GE stock at 30% of its current value. Impossible. Try to find oil futures at 30% of its current sell price. Impossible. Try to find foreclosures with high levels of financing and only pay 30% of its current FMV. Impossible. Try to find tax delinquent situations where the owner will sell at 30% of its current FMV – highly probable!

So what’s an aspiring millionaire to do?