Posted by SteveFL on October 04, 2004 at 08:56:48:
They make it sound easy and sooo good, but is actually much harder and extremely time comsuming. Like Bill said, you must pay cash and are really only buying the right to become the owner in a year or more.
Posted by Natasha on October 01, 2004 at 21:10:25:
I have dipped into many real estate courses over the years. I have recently purchased John Beck’s course on buying homes from tax liens. Has anyone tried this, is it difficult and is his course a sham?
I have been to tax sales and today the competition is from banks. They come in with the intent of making better returns on the money they have. We got into a bidding war on homes with them. They of course have a stopping point that may be lower than yours. In our area you have to pay all cash the day of the sale and have to hold the property for 1 year before you can apply for a deed. This means that the property is not yours and you can do nothing with it during that time. All you purchased was the right to take the property if the previous owner that you have to inform a few times by mail does not come back to redeem the proeperty. WE have made money doing this and it would be a good way to make a good return on your dollars if you have lots of them ot invest. I think it is rare that you will get the property unless is it is a dump or in a bad area or if it is raw land few could use. YOu will find a diamond once in a while though so good luck.