Myths About Tax Lien Investing

Posted on November 23, 2010 by Debby

Do you fall for these myths about tax lien investing?

There are many myths out there about tax lien investing and it’s difficult to know fact from fiction, and it’s even more difficult to know who to listen to any more. Here’s what I’ve come to know and discount about tax lien investing after investing and teaching others how to invest in tax lien certificates for the past 8 years.

Myth # 1: You can buy a house for as little as $200

The truth is that you can purchase a tax lien for as little as $200, but in my experience 99% of all tax liens will redeem and you do not get to foreclose on them. Not only that but most tax liens on decent properties are more than $200. Think about it. How much do you pay for the taxes on your house? If all that is owed in taxes is $200 what kind of property do you think that is? And even if it did turn out to be a good property with a house on it and it wasn’t redeemed and you got to foreclose on it, you would still have to pay all of the taxes from the time that you purchased the lien to the time that you got to foreclose on it, plus any attorney fees for the foreclosure. That still would be a great deal, but it’s not going to cost you only $200. Continue reading →

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Answering Your Questions About Tax Lien Investing

Posted on November 17, 2010 by Debby

I have gotten so many questions for our webinar tonight about how to invest in tax liens. We already have over 100 registrants for tonight?s webinar and expect that we?ll have close to 200 by the time we kick off tonight. I?ve got so many great questions from you already and I can?t wait to answer them. But I know that I may not get to answer all of them thoroughly on tonight?s call, so I wanted to give you an example of the type of questions that I will be answering tonight and answer a couple of these questions for you right now to save us some time and space on the live webinar.

Here is a list of a few of the questions that we have for tonight so far:
? What are the best areas to invest in tax deeds in the Northeast?
? What?s the easiest way to get started with a little bit of money?
? How can I find out if the property is occupied or vacant?
? Can I do this from outside the US?
? How can I get a final list of liens for sale days before the auction?
? Where can I get a Redeemable Deed for under $5000?
? Can you go over how to do due diligence on tax sale properties?
? If I buy a tax lien on a farm can I foreclose on it after the redemption period?
? How do I approach tax lien investing online?
? What are the best states for tax lien investing? Continue reading →

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Don’t Buy Tax Lien Certificates Until You Do Your Homework!

Posted on November 15, 2010 by Debby

Now that I’ve told you what tax lien sales are going on from now until the end of the year, I’d like to remind you how important it is to do your due diligence on tax sale properties. Four years ago a wrote an article entitled “Don’t Buy Tax Lien Certificates Until You Read This!” You can read the article at http://taxlienconsulting.blogspot.com/2006/07/dont-buy-tax-lien-certificates-until.html. Because the information in this article is still very important when it comes to investing in tax liens today, I’ve revised it a little and made it into a video for you. Here it is for viewing pleasure, narrated by my assistant Debby.

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Tax Lien Sales Going On Now

Posted on November 11, 2010 by Joanne

We’re coming up on the end of 2010!

?As I write this post we have only 51 days to go until 2011. So what can you do now until the end of the year to start building your profitable tax lien portfolio?

Although the online tax lien sales are pretty much over for this year, there are still tax sales going in different states around the country and liens are going at decent interest rates! There are still 4 counties in Illinois that have their tax lien sales coming up and I’ve heard from my friends at PIP West (a tax lien agent that specializes in buying Illinois tax liens) that things are going well this year and they were able to pick up many liens at over 30% per annum and a few liens at the maximum rate, which in IL is 18% per 6 months or 36% per annum.

The online tax sales in Colorado are done, but there are still quite a few tax sales coming up that are not online. Judging from the results of the online tax sales these tax sales are worth going to if you live in or near these Colorado counties. The interest rate is only 10% in Colorado with premium being paid for liens, but the premiums paid on the online tax sales were pretty low – about 3% of the certificate amount for the ones that I looked at. And even though you don’t get your premium back, you get the full 10% on your subsequent tax payments. Not as good as Illinois but still beats what you can get in a bank CD by?a long shot.

New Jersey tax sales are also ramping up and will be going strong through December. The default interest rate in NJ is 18% but that can be bid down as low as 0% and premium paid for liens. But you do get a penalty of 2-6% depending on the amount of the liens and you get the maximum rate on your subsequent tax payment. And unlike Colorado you get your premium back in NJ if the lien is redeemed in 5 years.

I always love to hear from you on how you do at these tax sales, so leave a comment and let me know.

Happy and Prosperous Investing,

Joanne

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End of the Year Tax Sales

Posted on November 5, 2010 by Joanne

There are still many tax lien sales coming up from now until the end of the year. There are still tax sales this month and next month in Illinois and Colorado, but only one or two online tax sales left in Colorado, most of the tax sales coming up are physical auctions.

There are also many tax sales coming up in November and December in New Jersey. There are 14 tax sales in New Jersey on December 1st alone!

And there are still a few more Illinois tax sales in January. So roll up your sleeves and get ready to go to work!

Here are 2 things to help you get started:

If you’re new to tax lien investing and are not sure if it’s for you, find out with my Tax Lien Investing Basics program. In this program you’ll learn:

1.???? The difference between a tax lien and a tax deed

2.?????Why a tax lien is such a good investment

?3.????Where is the best place for you to invest

?4.???? How to get the tax?sale information.

Need specific information about tax lien investing in New Jersey and some coaching time with me? Get my Jet Start coaching. It?includes the following:

1.???? Tax Lien Investing Secrets e-book

2.???? State Guide

3.???? 30 minute consultation with me to help you get started.

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