How do I learn about tax lien investing?
Wednesday, June 24th, 2009 at
5:44 am
WANTTOTRY asked:
I’d like to learn about tax lien investing. I have no real estate backround. Besides scam infomercials and books, are there classes that might teach me….via real estate courses?. I’d really like to learn form a person who can teach the pricinples and answer questions. does this exist?
I’d like to learn about tax lien investing. I have no real estate backround. Besides scam infomercials and books, are there classes that might teach me….via real estate courses?. I’d really like to learn form a person who can teach the pricinples and answer questions. does this exist?
Tagged with: Backround • Investing • Tax Lien
Filed under: Investing
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It’s a risky venture, and the rules for tax liens vary from state to state. Some states have NO provision for tax lien auctions, and those which do each have their own set of rules covering such investment.
In some states, purchase of a tax lien allows the owner of the property to redeem the delinquent tax up to a year after you purchase the tax lien. Therefore, your money is tied up for a year, and you may get nothing back other than your initial investment.
I suggest that you pick ONE state with which to start, and study that state’s rules very carefully before you move forward.
I am reviewing a book that I purchased several months ago regarding Tax Liens. The title is “Profit by Investing In Real Estate Tax Liens” written by Larry B. Loftis, Esq., published by Dearborn, and the copyright date is: 2005. The book cost me a little over $20. This book has information for all the states that conduct tax lien and tax deed sales. The three best states are: (1) Texas, (2) Georgia and (3) Illinois. The worst state is Missouri because you have to be a resident. One thing that I all ready know is this: Any program that has information leading up to obtaining a piece of property for pennies on the dollar are “bogus”. I am not interested in obtaining property but I want a secured way of obtaining a possible 18% interest on my tax lien purchases. A homeowner can not sell or refinance their homes if they have a tax lien on their property. Tax liens are ahead of mortgages as well. I am about to go to an annual tax lien real estate sale and I have a little over $4,200 dollars. I plan to purchase a tax lien around $3,950. Also, I have to pay the court house filing fees as well. Hope this helps and I am not aware of any classes and I would be very careful on how it will be sponsored (steer clear of infomercial stuff).