What’s Holding You Back?
ByWhat’s holding you back from investing in tax liens or tax deeds?
Leave a comment below and let me know, and I’ll answer your concerns right here in the comment to this post!
A couple of weeks ago I sent out a survey and many of you completed it. Last week I told you about the results and this weekend I would like to explore the results of this survey a little more and find out more about how I can help you.
One of the things that I learned from this survey is that 85% of you have not invested in tax liens or tax deeds yet, and I’d like to help you do that.
Here are the top 10 concerns that you had about investing in tax liens or deeds.
1. Don’t have the time to do the due diligence and bid at the tax sale
2. Don’t have enough cash to invest
3. Don’t know enough about the risks involved
4. Afraid of losing money
6. Getting started – getting the tax sale lists
7. Don’t know what to watch out for
8. Don’t know the process for purchasing tax liens
9. Don’t know where to find the online auctions
10. Don’t know how to choose the right liens
And I could go on and on, but they all boil down to one 3 things
1) I don’t have enough time
2) I don’t have enough money
3) I don’t know enough or have enough education
I can help you with all three of these things, but today I want to start with the 3rd one. Not enough education, because that’s the category that most of these concerns fall into. You don’t know where to get the tax sale information, how to do due diligence on tax sale properties, what the procedure is for bidding at the tax sale and how to protect your investment. These are all things that I have tought in my Build Your Profitable Tax Lien Portfolio course, and now the course is available as a home study course.
This course covers everything you need to know to get started. It consists of 8 Lessons. Lesson 1 teaches you the basics of tax lien investing and lesson 2 shows you how to get the tax sale information. I don’t just tell you how to do it, I show you how to do it right from your computer screen. Lesson 3 shows you how to do due diligence on tax sale properties. Lesson 4 shows you what to do to prepare to go to your first tax sale and includes a checklist. Lesson 5 is all about bidding at the tax sale and includes sample bidding forms. Lesson 6 is all about protecting your investment and shows you what you need to do after you purchase a tax lien or tax deed. In lesson 7: Cashing In On Your Lien Or Deed, you learn how you actually make money from your investment. And in lesson 8 I give you a review and show you some advanced strategies for making money from tax delinquent properties, sometimes without even going to the tax sale.
All of the lessons include a webinar replay, a copy of the slides for that lesson, an audio of the lesson, and a Q & A portion. Most of the lessons also include a handout, bonus videos, sample documents, articles, and resources. And if that’s not enough the course also comes with one hour of coaching, lifetime e-mail, and a 2 month trial to TaxLienLady’s Members Area. – All for just $497.
Plus I have extended the offer that I made in my “Why Smart Investors Are Choosing Tax Liens In 2012″ webinar for a free download of my Buying Tax Liens Online Course for everyone that orders The Build Your Profitable Tax Lien Portfolio course from now until Valentines Day. That’s a $197 course that includes everything you need to know for buying tax liens online including a guide that lists all of the counties with online tax sales. The course is updated annually and once you own the course you get all the updates at no charge!
Get the Build Your Profitable Tax Lien Portfolio course now at
http://taxlienlady.com/student.html.
Remember to leave your comments or concerns about tax lien investing below!
10 Comments
February 10th, 2012 at 11:31 pm
Nothing else is stoping me except, not having the cash to invest even $1000. is difficult for me, I have even tried to run ads offering 12-15% ROI and have’nt got any takers, where can I get the money?
February 11th, 2012 at 2:01 am
Dwayne,
One thing that you have to realize is that tax lien investing is in “investing” not a get rich quick scheme. You need to have money to invest – you are not going to make money overnight with tax liens. It’s a way to secure your financial future. I do not advise that people borrow money to invest in tax liens or invest money for others if you haven’t even done it for yourself. Here’s what I do recommend to people in your possition.
1) Start a retirement account that you can control, whether it’s a self-directed IRA or 401k
2) Start contributing what ever you can afford into that account
3) Start you own business to get more tax deductions and to be able to have a SEP IRA or Solo 401 K – these are accounts that you can need to have a valid business in order to create and contribut to but they allow you much higher contributions than an individual retirement account.
4) Once you account is built up to $2000 use that money to invest in tax liens, if you’re investing online, you may have to wait until you have $5000 to invest.
February 19th, 2012 at 2:44 pm
How easy is it for people in Canada to do Tax Lien investing? My husband and I are planning to make the drive to attend your conference in April (we are from Woodstock, Ontario). We are interested in the online tax lien investing.
February 19th, 2012 at 3:31 pm
Hi Joyce
I’d love to have you and your husband come to the conference! Investing in US tax lien is very doable from Canada, in fact I have students from Canada, London, Spain, Australia, and New Zealand. I don’t think any of them will be coming to the conference though so it would be wonderful to have you and your husband there.
As a foreigner there are only 2 things that you need to invest that are easier for people who live here in the US and that is a US tax ID #, and a US bank account. The rest will be the same for you as it is for many US citizens that don’t live in the states that they invest in.
I look forward to meeting you at the seminar.
February 19th, 2012 at 3:46 pm
In the area I live the municipalities sell the tax liens to large firms. I don’t have the time or funds to travel to invest however I am very interested in investing with self directed funds. Are there firms that I can invest through and if so do you have any recommendations
February 19th, 2012 at 8:37 pm
Hi Tom,
Yes there are tax lien agents and tax lien funds that you can use money from your self-directed IRA to invest in. In fact I will have one of the funds that I recommend and the only agent that I recommend at the tax lien investing conference that I’m hosting in April. Find out more about the conference at http://www.TaxLienLady.com/conference and you can find out more about the tax lien investing agent and the tax lien investing fund by clicking on the ‘tax lien agent’ and ‘tax lien fund’ category links on the right side bar of this blog.
March 1st, 2012 at 9:17 pm
Joanne,
As a Canadian from just north of Toronto Ontario, I am interested in buying tax lien and deed certificates in the US.
1) Can I register at the auctions by just having a Canadian Drivers’Licence?
2)With an investment budget of $10,000 which would you recommend:
Tax deed certificates, tax lien certificates or redeemable deeds
such as those in Harris County, Houston Texas.
3)Which states closest to Toronto Ontario would you recommend for
auctions and for over the counter sales for each of the above?
Appreciatively,
John
March 5th, 2012 at 9:26 am
Hi John,
You may be able to register for deed sales with just your driver’s license, but that will not work for tax lien sales. You will need to have a US tax ID # which you can apply for on the IRS website at http://www.irs.gov. With the money that you have have to invest it would be difficult to purchase tax deeds on anything but vacant land. I would advise you start with tax liens, and you will also need a US bank account to participate in any tax sales in the U.S. You should also know that generally I do not recommend over the counter tax liens or deeds because tax sales are very competitive and there is usually nothing good left over. There is not much available in New England. New York state is mostly deeds and Ohio as well. Michigan is a deed state, though they have many tax sales online, however since you are better off starting with liens, you may want to look into the states that have online tax lien sales.
For instruction on Buying Tax Liens Online and a list of all of online tax sale websites see the Buying Tax Liens Online home study course at http://www.BuyingTaxLiensOnline.com. Also you may want to consider coming down to PA for my tax lien investing conference on April 14th, there will be other investors from Canada there. You can find out more about the conference at http://www.taxlienlady.com/conference.
April 21st, 2012 at 1:28 pm
Joanne,
I am quite interested in investing in liens/deeds, but i live in Texas, whre i believe deeds are sold instead of liens. I am 20 years old, and I am saving money so I may invest, but my main concerns are being taken advantage of by the more experiened, or even by the very properties themselves due to poor investing, and also, i do not know what happens once a foreclosure takes place. Do you have to pay even more in some other fees? Or is the property just free to sell away for profit?
April 24th, 2012 at 10:55 am
Hi Nykia,
In Texas they sell redeemable deeds and you need a lot of money to invest because you are actually bidding for the property. You do not need to foreclose, once the redemption period is over you are the legal owner of the property. However you do not have clear title, and right the state of Texas does not allow you to clear the title. I understand that this will be changing in the next couple of years though. So the only other expense you will have before you can sell the property is that you will have to do a title certification process or quiet title process to be able to get title insurance in order to sell the property.