Companion files · The Tax Lien Investor
The Tax Lien Investor: Tax Lien and Tax Deed Investing by the Numbers. Bid-Down Auctions, Redemption Odds, Deed Costs and the Real Yield, With the Models Supplied.
These are the companion files of the book. The sale advertises 18 percent. Certificate C-0412, won at 0.25 percent and redeemed in month 2, earns 20.3 percent a year; held to month 12, 4.4 percent. The investor's sixty certificates are expected to earn 7.54 percent, below its own 8 percent hurdle. Three workbooks follow Calder County's sale and a Wexley County tax deed and reproduce every figure the book prints. Around them sit blank templates for your own certificates, five working forms and forty questions. No sign-up, no email is asked for, nothing is locked. Yellow cells with blue type are inputs; grey cells are formulas.
The archive holds the seven files below, with 00_START_HERE.md at its root. No macros, no circular references, no external links in any workbook. They recalculate in Excel, LibreOffice or Google Sheets.
Chapters 2 and 3 · the premium chapter
Certificate C-0412 line by line: the payoff rule with the 5 percent minimum and the 0 percent exception, the crossover months, the IRR a year for every bid and redemption month, where the 18 percent goes on a one-year hold, and premium bidding with its break-even premiums. Every computed figure is a live formula, and the Checks sheet sets each figure the book prints beside the cell that computes it.
Download the workbook33 KBChapters 4 to 6, 8 and 12 · the worthless-parcel and stress-test chapters
The redemption record by class, the expected cash flow of one certificate month by month from sale day to month 37, the IRR grid by class and bid, the lowest bid for the hurdle, the sixty certificates and their cash by quarter, the lemons and the stress test. Every figure is a live formula, checked on the Checks sheet.
Download the workbook350 KBChapters 9 and 10
The deed branch of one unredeemed certificate, then a house bought at a tax deed sale: the cost stack, the profit, the surplus that belongs to the former owner, the maximum bid for a margin, the sensitivities and the redeemable deed.
Download the workbook24 KBChapters 2 to 4, 6, 12 and 15
A certificate ledger with the payoff and the IRR on every line, a bid sheet by class, a redemption-record tally by class and month, and a portfolio cash calendar. Every input is empty and every output a live formula; the Checks sheet counts what is still to fill in.
Download the workbook24 KBChapters 6, 8 to 10, 14 and 15 · Appendices B and C
Five forms to print and fill in: the statute worksheet, the parcel diligence sheet, the bid sheet, the certificate ledger and the deed-sale checklist.
Download the PDF19 KBChapters 1 to 15
Forty questions across the chapters, numeric and multiple choice, marked by formula as you type. The second sheet counts your faults chapter by chapter; the third gives every answer and the reason for it.
Download the workbook18 KBRead first
What each file is, which chapter each sheet serves, the conventions, and the figures to type into the blank template to check it against the book.
Download the read-me6 KB| One certificate | C-0412, face $3,983.75, bid 0.25 percent, redeemed in month 2: payoff $4,182.94, IRR 20.3 percent a year. At 18 percent held a year: 16.2 percent |
| The portfolio | Sixty certificates, $229,300 paid on sale day, expected profit $20,010, IRR 7.54 percent against an 8 percent hurdle |
| The tax deed | A house bought for $92,000: profit $51,406; the $85,150 bid above what was owed belongs to the former owner and lienholders |
The files are provided as they are, without warranty of any kind. The models are illustrative: Calder County, Wexley County and every party in them are fictional, and the figures are the book's assumptions, not market statistics. Nothing here is legal, tax or investment advice; your state's statute, the county's sale terms and your own counsel decide.
Discover more of Julian R. Sterling's practical library of models, checklists and worked cases.
Browse Julian R. Sterling's books Browse all companion files