When NOT To Buy A Tax Lien Certificate

Posted on October 3, 2011 by Joanne

Recently someone contacted me with a very “valuable”  lien that they had for sale. They didn’t have the money to foreclose on the lien and wanted either to sell it or partner with someone on foreclosing it. (Have someone else hire a lawyer to foreclose on the lien and share in the profits). When I checked into the property, I found out that it was a vacant piece of land with little value, and the lien holder had already invested more than $16,000.00 into this lien. They had paid subsequent taxes over a few years and when they stopped paying the taxes the lien was struck off to the municipality.

Because this was not a good property the municipality never foreclosed the lien as well. The original lien was purchased back in 1993. The municipality picked up the lien in 1997 and the back taxes owed on this property now are probably more than the property is worth. I had to give her the bad news that her lien is not worth foreclosing on and she won’t be able to sell it. If she only knew when NOT to buy a tax lien, this bad investment would have been avoided.

So here is a list for you of a few reasons not to buy a tax lien. Be sure check the items on this list for tax sale properties before you purchase a tax lien certificate on the property and you’ll avoid taking an unnecessary risk with your money. Continue reading →

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Monday Motivation: How Confident Are You?

Posted on September 26, 2011 by Joanne

Here’s?an audio clip from my friend Arnfried Klein-Werner from Be Motivated Today on how you can develop more confidence by improving your self-image.
You can hear it at http://www.bemotivatedtoday.com/content.asp?pageId=165&refcode=71058

Enjoy!

Joanne

Want to receive e-mails with?encouraging and inspiring messages like this each day?

Register for a 14-day FR’EE Trial of the Daily PEP-Talk at http://www.BeMotivatedToday.com/71058. Watch a short video and download an e-book on releasing your potential and a report on a unique way to help you create a passive income that actually works. Visit http://www.BeMotivatedToday.com/71058.

Posted in Tax Lien Investing | Comments Off on Monday Motivation: How Confident Are You?

Answers To Your Questions

Posted on September 23, 2011 by Joanne

Here’s a question that I got a couple of weeks ago?and I thought it might be helpful for everyone to post the answer to here. This questions was from someone that had limited money and is somewhat disabled, and they asked a question that I think is on a the mind of a lot of people. I often get this question from individuals who have been recently laid off, or who have been without a job for a while.

The question is: “Is it worth it to start investing in tax liens with just a little bit of money, and build up from there?”

My answer to this questions is a whole hearted “YES it is, that’s how I got started.”

Recently I had a lien redeem. It was actually 2 separate liens on one property. I purchased the first lien back in December of 2002. That was the year that I started investing in tax liens. The amount of the lien was $444.62, and I paid $30 to record the lien. The following year I purchased another lien on the same property for $457.48, I paid another $412.88, a $40 recoding fee. Then I continued to pay the subsequent taxes of around $500 per year through 2008. Continue reading →

Posted in Answering Questions, Tax Lien Investing | 3 Comments

New Jersey Tax Sales And Prior Liens

Posted on September 21, 2011 by Joanne

Last week I went to a tax sale in New Jersey. I really don’t attend to many tax sale anymore for 2 reasons, one is that I do half of my investing in a tax lien investing fund, with money from my self-directed IRA. The other reason that I don’t have to go to many tax sales these days is that I continue to pay subsequent taxes on the liens that I have acquired over the last few years.

Even though the redemption period is only 2 years in New Jersey, the lien does not expire for 20 years. So if you have a good lien, that you know will eventually pay off, you can continue to pay the subsequent taxes and get the maximum rate on your these payments, which is 18%. There’s only one problem, for the smaller liens that are less than $1500, you only get 8% on the subsequent tax payments until the total delinquent amount is $1500. Continue reading →

Posted in tax sales, Utility Liens | 2 Comments

Monday Motivation

Posted on September 19, 2011 by Joanne

I have 2 inspiring messages for you this week from my friends at Be Motivated Today. The first message is about keeping your dream alive and the second is a poem entitled “Don’t Quit.”

Your Dream Will Do It!

It is your dream of a better future, of financial success that will give you the strength to push on when you want to quit.

In the last two centuries thousands of men and women have faced long hard struggles to achieve success. Helen Keller, Thomas Edison, Henry Ford, Mother Teresa, Bill Gates, and many more. They worked tirelessly and persevered when others criticized and laughed.

Where did they get the strength? From their dreams. They had a dream and that dream sustained them through it all.

They kept this dream alive by thinking about it often, believing that they would achieve it. They nurtured the dream, when others made fun of it. They let it become an all-consuming force that would not allow them to quit.

Is your dream growing every day? Keep thinking about why you are trying to create wealth. Keep reminding yourself of the lifestyle you will enjoy. Let your dream push you when everything is trying to get you to stop.

Don’t Quit

When things go wrong as they sometimes will,
when the road your on seems all uphill,
When the funds are low and the debts are high,
When you want to smile but you have to sigh.

When care is pressing you down a bit, –
Rest if you must but don?t you quit.
Life is queer with its twists and turns,
As Every one of us sometimes learns.
And many a failure turns about,
When he might have one, had he stuck it out

Don?t give up though the pace seems slow,
You may succeed with another blow.
Success is failure turned inside out ?
The silver tint on the clouds of doubt.

And you never can tell how close you are
It may be near when it seems so far.
So stick to the fight when you?re hardest hit
It?s when things seem worst
that you must not quit.

Author Unknown

Affirmations:
I never quit
I just press on
I am tough

Want to receive these encouraging and inspiring emails?
Register for a 14-day FR’EE Trial of the Daily PEP-Talk at http://www.BeMotivatedToday.com/71058. Watch a short video and download an e-book on releasing your potential and a report on a unique way to help you create a passive income that actually works. Visit http://www.BeMotivatedToday.com/71058.

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