Get started with tax lien investing. When property owners do not pay their property tax bills, tax lien certificates can be a safe, collateralized complement to a balanced portfolio — but only if you have…. Who will feel the pain if there's a government shutdown?
Should I invest in tax liens? Is it really Real Estate best kept secret?
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That meat seem like a simple question, but if the property is trashed or in a terrible area, you may jot want it. Naturally, you will also have to pay an attorneys to complete the foreclosure for you.
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I am not trying to dissuade you from doing it, but it is not a " can't miss" proposition. You suggest I look into tax deed instead?
Should I invest in tax liens? Is it really Real Estate best kept secret?
If you want to own it, how much will you have to put into it before you own it? Is the property currently occupied?
Is someone maintaining the property. What is the likelyhood that the lien will be or not be redeemed? If it is redeemed you can make a good return depending upon the interest rate. I am not suggesting that you do or do not invest in the tax lien. I am just suggesting you consider these questions prior to doing so. Many people don't invest in them because it's playing the lottery in terms of snagging a property for pennies. Tax Deeds are better for getting a property but you're going to need a larger cash pool to invest than if you went after Tax liens.
I use Liens mainly as a supercharged CD. That's right - a boring Certificate of Deposit. I barely call myself a Real Estate investor when it comes to liens. Those are the rules of the game and you need to learn them. Florida is a hybrid state for Liens and Deeds. In most states if you own the lien and the owner never pays the lien back in the period the statutes specify, then the lien holder may be able to foreclose and get the property. In Florida, as Rick Stein mentioned, the lien holder can cause a tax foreclosure, but that just puts the Deed property up for auction.
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The lien holder does not automatically get the property. There are many rules you need to learn. I suggest you read through the Florida statues first - for both liens and deed auctions. This will help you determine if you have the fortitude to learn the rules and follow through to understand what is going on. Florida Tax Lien Statutes is the link.
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You'll have to follow those to other pages where they are spelled out. Here is another possibility. Make contact with a tax lien buyer, prefab ly a corporation as they will have a godly number if them and see if they are willing to assign a lien to you that is at the twn year period or at OST order setting time which is the deadline the judge gives the property owner to come up with the money. Even if they assign the lien to you at a small premium, you can still make money on it depending upon some of the criteria I have mentioned.
Jerry is correct, I live and work in NJ. You absolutely need to know your state laws so you don't get burned. I do not invest in FL much. In this course Thomas and other property investing professionals discuss their tricks and strategies for investing in and selling property. This course is called Ted Thomas Introduction to Quickstart. It includes a page manual, a tax lien directory, a manual to operate by mail, six audio CDs and two DVDs.
The date on this is The last one I found was conducted in May in Connecticut.
Who is Ted Thomas?
This was a seminar hosted by a real estate investment association. This is a searchable database—supposedly the largest of its kind—on tax lien certificates, foreclosures, tax auctions, tax sale lists, bank owned property, bankruptcies and government properties. Apparently this database includes information for all 50 states, counties, and more than 1, municipalities. It also has 10, direct links to county treasurers, tax collectors, tax assessors, marshals, sheriff, and constable sites.
Naturally, on his website there are glowing testimonials about how much money people made in the short amount of time. I know for a fact he is not a scammer. Interesting to see how quickly everything gets labelled scam in here…. He is actually a very wealthy man, and he made his millions investing, and selling information. Selling information is not a scam in itself….
Buy for others
I have looked at liens and tax deeds. It is a valid investment vehicle, and everything Ted says is true. The problem is, like anything else, this approach takes a lot of work, practice and research before you can make significant dollars. The other problem is the competition.
Because there is real money in this, there are others looking as well. There are only so many land titles to go around. Ted is a very smart man, who graduated from Harvard.
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Also the courses in my opinion are too over priced. I ended up investing close to 4, SG at a Success Resources event. The demand for his course was amazing…. It took us a few weeks to get started since there is a lot of information. Several other independent real estate investor review sites had some iffy things to say about Thomas.
I found this on homebasedbusinessreviews. General criticism is that the stuff he gives out is outdated and useless. Whether his material is worth a grand or two is debatable. A lot of it has to do with the sale of his training materials to folks like you.