Posted by K MCDONALD on November 21, 2002 at 21:38:39:
john beck’s course is the easiest to understand
and to implement on this subject
Tax Lien - Posted by Joe
Posted by Joe on November 21, 2002 at 14:28:36:
Good Afternoon,
Has anybody ever invested in a tax lien on a piece or RE?
How risky is it? Has it benefited anybody?
Good Day, Joe
Re: Tax Lien - Posted by David Krulac
Posted by David Krulac on November 21, 2002 at 18:43:16:
a friend of mine went to WVA and bought a buch of 12% certificates. Never got any property but was very satisfied with the 12% interest.
David Krulac
Central Pennsylvania
Re: Tax Lien - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on November 21, 2002 at 17:46:10:
Joe--------------
I have invested in a few tax liens. I prefer buying houses on tax auctions–getting the deed for the property directly.
“Has it benefited anybody?” Well, one Michigan certificate I bough gave me 50% over my purchase price in 10 months. Would you call that a benefit. I bought a house in Waco, TX, which got redeemed–drat, I don’t like that. Still, I got 25% profit after three months of owning the property. How does that sound to you? I have now several certicates that pay me 8% when Dean Witter pays about 1.4% on the money. Well, they would pay on the money if I had left it in there. I took it out to buy the tax certicates.
Risk. Actually not much. But, that assumes that you are a sensible person, not a bonehead. You check out the properties that are security for the properties. And you study the state laws related to collecting delinquent taxes in the states in which you invest, so you understand what to do and what possible problems there might be that you need to avoid. Every state has different laws. And you don’t make stupid bids when you buy the tax liens or tax certificates. There are some states where people pay “premiums” to get the certificates and, if the delinquent taxes are paid within a few months, the investors will definately lose money.
I recommend my friend John Beck’s “Free and Clear” program on the topic. Check out www.johnbeck.net to order it.
Good Investing**********Ron Starr*****************