When I found out layoffs were coming, I was quite un-prepared, and caught off guard. I pretty much was in a state of panic, and I rarely panic. I couldn’t believe I could possibly be joining the un-employed in just a matter of weeks. We really didn’t have much in savings, and would not be able to live off savings and my wife’s income for very long. It came down to “we just didn’t have a plan”. After I was able to calm down and think about things a little, I tried to formulate a plan. Something that could be implemented fast.
After talking to some family members, I decided to go for something else in real estate (I already had a couple rental units, but they didn’t make much), and more specifically, tax lien investing. For the next couple days at work, all I did was surf the internet for information on tax lien investing. There were people saying is was simple and rewarding, but also plenty of people saying it was very complicated. I have to admit, I was getting sucked into what the naysayers were saying, and they were starting to change my mind about tax line investing, and was thinking about trying something else. I found one forum thread though where someone was coming back at what a naysayer was saying, and questioning if they had actually done it. The answer was no, they had never even tried it. All of these people saying it was too complicated had either never tried it, or had bought the cheapest tax lien investing guide on the internet.
Thanks to the person defending his grounds as an investor, I had almost changed my mind. I then started trying to find a good guide to tax lien investing so I could get started. I bought one and read it, just to find tax liens as complicated as I had heard. I knew there were better guides out there though, and I was committed to making this work. I decided I could afford to try a couple more, because the right information was quite valuable, and would get me out of my possible upcoming bind (no income).
I finally found the giude that had everything in it that I needed to get started. It was totally worth the $37 for the proper information. The information was actually worth much more. Ever since then I have never looked back. Thankfully I didn’t loose my job, but I sure have things if I do loose my job, or just decide to quit and do this full time.