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.
Just after I wrote a review of three of my favorite books about tax lien investing, I got a call asking me if I’d like to review a brand new edition of one of them. A second edition of The 16% Solution, by Joel S. Moskowitz, is now in bookstores and I’ve just finished reading it.
You can find out more about my Jet Start personal consultation at www.taxlienconsulting.com.
Update to Tax Lien Investing Book Review: New Edition of The 16% Solution
Just after I wrote a review of three of my favorite books about tax lien investing, I got a call asking me if I’d like to review a brand new edition of one of them. A second edition of The 16% Solution, by Joel S. Moskowitz, is now in bookstores and I’ve just finished reading it. It’s been a while (more than 6 years) since I read the original version of this book, which was somewhat outdated then, so I wasn’t sure just how different the second edition would be from the first.
I was pleasantly surprised! With all of the hype and recent infomercials lately touting tax lien investing as a way to get rich quick, this book is very refreshing. Right from the beginning Mr. Moskowitz sets the reader straight, giving honest and straightforward information. I was really impressed with the forward to this second edition where he likened the chances of someone getting a property for pennies on the dollar from a tax lien to someone winning one million dollars from a one-dollar lottery ticket. Yeah it happens every now and then, but it’s not likely. And then he tells you what you can expect from tax lien investing super-high interest combined with safety.
Part Two of the interview with Kendall Mathews of
In Part Two of this interview You’ll find out:
* Why tax liens are such a great investment
* What you need to know before you bid at
* Reasons not to buy a tax lien
* How to do your due diligence on tax sale
Joanne Musa is a tax lien and tax deed investing expert who helps investors buy profitable tax lien certificates and tax deeds. You can find out more about the excess proceeds strategy of tax deed investing and get a Free mini-course at www.TaxForeclosureFortunes.com
It’s Monday April 20, 2009 and I just got back from a tax sale in New Jersey. Here’s what I noticed at this tax sale. There were more properties available than last year, but there were also more bidders. A couple of institutional buyers showed up who don?t normally come to this particular tax sale. At least they weren’t there in 2007 and 2008. And there were also a couple of new companies that I haven?t seen before, after talking to them I learned that one of these companies just started earlier this year and the other is into tax lien investing again after being away from it for a few years. There were also a couple of new investors just checking on what this tax lien investing thing is all about as well as the usual crowd.
Most of the “good” properties – by good, I mean safe properties, properties that you know are going to redeem and have a decent looking structure on them, went at premium, except for one that went for 1%. There were a few parcels of vacant land and one trailer that went from 17% to 18% and there were a few pieces of undesirable vacant land that went to the township. There was one very large lien (over $60,000) that originally was struck off to the township, but one of the investors got it at 18% after the tax sale. It was a corner lot with some old barns on it.
I went to this sale in order to pay the subsequent taxes on two of my liens to keep them out of the tax sale, and to see if I could pick up another lien. I was able to get a lien on a nice building lot for 18%. The lien was for around $2600. I also have two other liens on properties in this same development (it’s really just a cul-de-sac). The builder has come on hard times and has stopped building and stopped paying the taxes. He’s been trying to sell the building lots, but they aren’t moving in this slow economy. Maybe I’ll actually be able to foreclose on these lots!
Part One of an interview with Kendall Mathews of TheInvestmentRealEstateCorner.com
In this part of the interview the Tax Lien Lady tells about her backgroup and reveals:
- How she got started in tax lien investing
- Why invest with a self-directed IRA
- How much money do you need to get started
Joanne Musa is a tax lien and tax deed investing expert who helps investors buy profitable tax lien certificates and tax deeds. You can find out more about the excess proceeds strategy of tax deed investing and get a Free mini-course at www.TaxForeclosureFortunes.com.