Wondering if there is way to cash in on this - Posted by Chris

Posted by jeff on September 21, 2002 at 08:39:48:

when liens are involved there is always a cash in on them. some ways are more effective than others. this has a lot to do with your state? my state of KY uses a tax lien certificate method and it only pays you 12% interest on your held certificate. this doent excite me too much. other states, i beleive texas is one of these, uses auctions, this is where the big cash is.
start doing a little more research into your states tax lien laws to find uot where you sit here.

use your research to figure out which liens are on the properties you are looking for and how much equity these people have. if the numbers look promising try callnig a few of them and see if they may be motivated. this motivation factor can probably be determined by your research also, if auctioning, how far away is the acution, how much are the liens, etc.?

if you get to these people at the right time, they can be very motivated. but the key is to figure out the rules in your state.

your job can find you more leads in a month (maybe a day if your busy) than i get in a year im sure.

Wondering if there is way to cash in on this - Posted by Chris

Posted by Chris on September 21, 2002 at 01:49:03:

Hi My name is chris, I’m a newbie in a sense that I’ve never invested in real estate, but have read all the books published over the past 15 years. I’m trying to find a way to get out of my current profession of being a repossessor. In addition to not having any credit or money I’m also without a vehicle because of a very bad experience repossessing a car. I recently started working as an abstractor for an information company. The job consists of me going to the courthouse and collecting all federal and state tax liens.(this information is then resold to credit bureaus) I’m wondering if there are any ways to profit from the information I’m collecting? Any ideas would be greatly appreciated. Thanx, Chris

Re: Wondering if there is way to cash in on this - Posted by Houserookie

Posted by Houserookie on September 21, 2002 at 10:00:44:

I was 21 and broke one time and decided to repo cars for a living while attending college. It lasted bout two weeks.

On one occassion there were some Christmas toys and a child’s backpack in the back of this car. At that moment I dawned on me that I can’t be a repo man.

btw… if you are working as an abstractor for company
the data compiled by you is owned by them. You can’t sell it.

And even if you could most bureaus and data companies now have their own people on site to do the same job.