I always see these infomercials where they say you can buy houses for hundreds of dolars because thats what was owed on taxes. Too me this sounds far-fetched. I was wondering if anybody has done deals like this and how they actually work.
in theory. it’s possible. is it common? that’s doubtful
The infomercials are designed to get you to buy, but the theory is true. I have been buying for over 10 years recently made a purchase in St Louis for $120.00, but then spent $9,000.00 in Florida on Friday. I have purchased thousands of tax liens over the years and know the averages and how to find a great deal. The best deal so far was a tax lien for $25k on a 6 unit building and sold it a few years back for $540k. That was a great deal.
Tax liens are a great place to start, but tax deeds is where great money can be found. Texas, Georgia and Florida are my favorites.
I actually became interested in tax lien investing when I was watching a John Beck’s Free & Clear infomercial. I assumed it was a scam (http://www.infomercialscams.com/scams/john_beck_free_and_clear) and I’m glad I never purchased his program. Although it seemed far fetched, the concept was intriguing. You can learn a lot on your own if you are hungry to learn about it. There is a lot involved regarding the due diligence required prior to purchasing tax liens and deeds. If you look at a county’s parcel list (especially over-the-counter parcels) you’ll see that about 99% of them are useless vacant lots. I’m still learning but it’s the best investment opportunity available, in my opinion.
Wish you all a great year in 2009. I seem to post info on here that gets me in trouble. oops
Tax Lien and Tax Deed investing will be great in 2009. I have taught this strategy to thousands of investors over the years. As I see it, mortgage foreclosure is rising every day and the tax lien foreclosure is close in its shadows. Watch the sales at the city and county of your state. Do not discount the over the counter because they are not mostly useless land. I just purchased some water front lots over the counter. The “over the counter” properties are those no one purchased, and not always the ones no one wanted. With money tight, investors are not buying all the good ones and some are going back to the tax collector. Do your homework and make alot of money. Buy blind and possibly lose alot of money.