I was still working on a report of an evaluation that I was finishing up for John Beck?s Free & Clear Real Estate System when I came across yet another website selling a tax lien investing program making some outrageous claims. These claims were so outrageous that I couldn?t believe what I was reading. This site claims that you can buy one million dollar homes for as low at $1995! The program that they are selling is called Tax Liens Made Easy. And while there is a picture of a paperback book with that name on the site, they do not tell you what you are getting for your money, only that you will have instant access once you pay.
Tax Liens Made Easy claims that with their system you can ?Buy and sell homes easily using just your laptop or PC ? Even while laying in bed ? and make $100,000’s without
ever having to leave your home! – Guaranteed!!? They also claim that you can just point and click the homes you want from their ?secret? web site and that you can turn around and sell these homes to banks, and lenders for huge profits. I don?t know about you, but I don?t know of any lenders or banks that are buying homes right now, except for the foreclosures that they?re taking back.
Melford and Concetta Bibens, the originators of this system and the TaxLiensMadeEasy.com website claim that they have made a fortune with tax liens. They claim that they got a house worth $145,000 for $225 and turned around and sold it to a bank right away for $95,000. I?d like to see some proof of that deal. They also have no less than 16 testimonials with pictures of others who have done similar deals using their system, but these testimonials give no last names or states of where these people are from, so there?s no way to check them.
They included a screen shot of property listings for a New Jersey tax sale and said that this is the amount that you could purchase these properties for. As a New Jersey tax lien investor for over 7 years I know that to be false. First of all most investors never get the opportunity to foreclose on a tax lien in New Jersey. I?ve been investing there for a while and the only investors I know that have foreclosed on properties are investors who have been doing this for 10 years or more and have thousands of liens. Secondly New Jersey does not have online tax sales and you can?t just point and click and bid on a property in New Jersey.
Here are more of their outrageous claims:
?It doesn’t matter where you live; you can now point-, click- & grab- these properties!?
?This is so much fun you’ll look at this as a game rather than a business! We do this all day long, and everyone we’ve introduced this to have all said the exact same thing!?
?You can even do this from your laptop while sitting in your den relaxing with your shoes off while having a cup of coffee!?
My advice is buyers beware ? they don?t tell you what you are really going to receive when you make your payment, just that you?ll have access to ?secret? information. They make tax lien investing sound like it?s a piece of cake or a walk in the park and don?t mention any of the risks involved or things that you need to watch out for. Even though they claim to have a 50-day no hassle money back guarantee, you don?t know if you are making a one time purchase or if you are subscribing to their web site. And since the payment goes through ClickBank, it may not be that easy to cancel a recurring payment.
Joanne Musa works with investors who want to reap the rewards of investing in profitable tax lien certificates and tax deeds. Her tax lien investing articles appear all over the Internet. Her no-nonsence, straightforward approach to tax lien investing has earned her the title of the “Tax Lien Lady.” As the owner of Tax Lien Consulting LLC, she has developed a full line of educational courses for investing in tax lien certificates and tax deeds. You can get her free special report, 7 Steps to Building Your Profitable Tax Lien Portfolio at TaxLienInvestingBasics.com. Also sign up for a free e-course and newsletter at taxlienlady.com.икони
By Philip December 13, 2010 - 12:52 pm
Property Tax on a $100,000 house in Nashville Tenn is about $800 per year
In houston the tax would be about $3000 per year.
The only way you could get a house as cheeply as Tax Liens Made easy claims
is to buy tax liens where the tax rate is low.
In the book they admit that buying a nice house just buy paying the taxes
is very unlikely so that claim is just dishonest advertising hype.
By Joanne December 15, 2010 - 11:28 am
I’ll have a new blog post about the realities of investing in tax liens and tax deeds, and buying properties for “pennies on the dollar” shortly, so keep an eye out.