Monthly Motivation: Words Can Make You Quit

Posted on July 12, 2011 by Joanne

What we say can slow us down and even make us quit.? How often do we say: ?I can?t? and then 1 hr, one day or one month later we’ve done it? Why say what is not true? It just slows you down because you respond to your words.

Things like:
?This business is not working?
?I can?t go on like this?
“I don?t know what I?m going to do?
?This looks impossible?

“The people who change the world are people who have taken impossible out of their dictionaries.” ? Myles Munroe

Do you want to change your income, your marriage, your level of happiness? Then take that word out of your vocabulary. Everything is possible!!

It may mean hard work and effort but it?s?NOT?TOO difficult.

Don?t let your words slow you down or make you quit.

Affirmations:
I never quit
I persevere until I succeed
I finish what I start

Be all you can be.

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Proposed Tax Lien Legislation

Posted on July 9, 2011 by Joanne

A new legislative proposal in New Jersey could eliminate?the tax lien investors from the tax sale process.

There is a legislative proposal in the New Jersey State Legislature that would end tax lien investing in the state as we know it. The proposed legislation would give municipalities the option to do away with tax lien sales and take over the tax lien. In addition to taking over the lien they would also foreclose the property and own it if the lien is not redeemed within the 2 year redemption period. With this system the municipality would fund tax receivables with a short-term bond or note.

Tax Lien Lady’s Comments On The Proposed Legislation:

Although this is alarming to the tax lien investor because it would do away with tax sales in New Jersey, I think that it would also be bad for New Jersey homeowners and taxing district in New Jersey as well. It would be bad for property owners because without the interest rate being bid down at the tax sale, they will always have to pay the maximum interest rate on their delinquent taxes (18%).? And it is not so good for the municipality because I believe it will take them longer to get the delinquent tax money needed to make their budget.

If this legislation is passed, it does not mean that each municipality has to do away with tax sales. It simply gives them the option to do so. I am hoping that the bill does not pass because I don’t see the benefit here to anyone. If it does pass I hope that most municipalities in New Jersey see the folly of doing away with the tax lien auctions, and do not adapt it, but keep things as they are.

There is one very big problem I see with this legislation. If a municipality has a lot of unsellable property that is delinquent and they take the liens to these properties, selling a bond??to pay the delinquent taxes on these properties, and they eventually foreclose the liens and take possession of the properties.???Who will pay the?interest and the principal on that bond? Where will the money come from?

I am not an attorney nor am I a financial expert, but does anyone else see a problem with this? Most states either sell the tax lien or the tax deed to get the money from their delinquent tax roll. Is anyone familiar with a state that does not do this – that takes over the properties and then either keeps them or resells them? And how is that working?

Posted in Tax Lien Investing, tax sales | Tagged , , , | 5 Comments

Tax Lien Investing Q & A: Types Of Properties To Avoid Bidding On

Posted on July 6, 2011 by Joanne

Question: “Does it really matter what kind of property you purchase a tax lien on if you are only in it for the interest and don’t want to own the property”

Answer: Yes it does matter since regardless of what anyone tells you, you are not guaranteed to get paid on your tax liens. What’s guaranteed by the county is the rate that you will get if the lien is redeemed, but there is no guarantee that the lien will be redeemed. Your guarantee is the property, therefore the property has to be of value. As long as there is value to the property and you would be able to sell it for quite bit more than the taxes and foreclosure costs that you may have to pay if the lien is not redeemed it really doesn’t matter what type of property it is. But you don’t want to buy liens on property that you would have a hard time selling if you did wind up foreclosing on the property. Continue reading →

Posted in Answering Questions, Due Diligence, Tax Lien Investing | 4 Comments

Guest Article: Fatal Tax Deed Mistake to Avoid!

Posted on July 2, 2011 by Joanne

Here is an article from my friend and colleague Dustin Hahn on a very important consideration when it comes to investing in tax deeds or redeemable tax deeds. I realize that some people who read this article are investing in tax deeds online and may be able to able to physically look at the property. If that is the case than I recommend that you have someone look at the property, and even take pictures of the property for you before you bid at the sale. Read this article by Dustin to see why this is so important.

“The Biggest Mistake You Can Make Is To Buy A Tax Deed Without Seeing It!”

A rule of thumb you must live by with tax deeds is “if you cant see it don’t buy it”

Most of the other people who teach tax liens and deeds tell you “look it up on google earth and zoom in!” and that’s all you need to do…..

Wrong!! Continue reading →

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New Low Cost Tax Lien Investing Course

Posted on July 1, 2011 by Debby

TaxLienLady.com announces a new course available for investing in tax lien certificates.

This course covers both the basics of investing in tax liens and advanced strategies to help you profit faster from tax liens and redeemable deeds. It also covers other little known strategies for investing in tax delinquent properties that will bring in cash quicker than investing in tax liens or tax deeds.

This course is good for both beginners and people who have already started investing in tax liens or redeemable tax deeds. Continue reading →

Posted in Online Investing, Tax Lien Investing, Wealth Building | Tagged , , , , , , , , , | Comments Off on New Low Cost Tax Lien Investing Course