Real Estate Investor · Portland, OR · Member since 2014 · 10 posts · 0 votes
Hi all,
Just went to a seminar and signed up for Tax Lien University and My Company Core. Does anyone have experience with these programs? We have a 3 day opt out clause, figured we would give it a shot.
Working in a tax office, I see and talk with people who attend these seminars. You can learn a lot more for a whole lot less by just going and talking with the clerks at the assessors office. I've written a few post about the topic.
@Chris Friberg , I just signed up for this as well. I figure it will at the very least be a lot of information that I would otherwise never know and can't be the worst investment I've made for education. I am interested to see where you are now in this program and your current experience.
Flashback! For years I watched late night info commercials and went to free seminars, but stopped there.
Flash forward, walked into tax office and clerks office and asked how it worked...they answered a few questions and told me to come back anytime.
So, for the next year and every year beyond I have been at the tax lien and some certificate sales. Can you lose, yes, can you make interest, yes, do you get properties at pennies on the dollar, yes...this year lots of interest and 38 properties.
Seminars and training are good, but meaningless until its applied, so if you want to do this, get off your bum, go ask a few questions, and try it with a small amount and see what happens!!!
Working in a tax office, I see and talk with people who attend these seminars. You can learn a lot more for a whole lot less by just going and talking with the clerks at the assessors office. I've written a few post about the topic.
My contacts with the assessor's office here in Dallas, they fax me all the tax liens for sale and the ones that they have not listed yet so I will be the first one to look at them and see if I want them. You can make money and lose money.
Our Investors have been asking about investing in Tax Liens and deeds and based upon our initial review of this opportunity, the reality is that it is a very complex investment and there is a big upfront commitment to due diligence.
There is also the fact that the average timeline for investment maturity seems to be around 18 months if we're reading it right.
All real auctions such as these are run on a caveat emptor basis (buyer beware) and you certainly need to know what you're doing with these tax auctions. all it takes is one mistake to wipe out a small investor. Not for the faint of heart or inexperienced Investor, that's for sure.
I agree with David T. there is a lot of up front research, and if your intent is to flip or expect for owners to redeem the property, you may get left holding the bag.
I look at your website, and you are offing services to investors who want to buy tax deeds, and you said that you would screen them through law enforcement can you shed some light on what you're trying to gain from that. Because anyone can buy tax deeds.
I screen the people I use to bid and process payments, because I am only 1 person, and there are over 200 tax sales each month in Texas. I cannot be in all those places at one time.
Ok I understand and the next ones coming up are not worth biding on. The 10 that is higher dollar proprieties that they are holding back I am looking at might be a worth biding on.
Attend a freebie tax lien seminar if you want, but before purchasing a course on tax liens, why not start by reading "The 16% Solution" by Joel Moskovitz. It's a little dated, but the basics still apply. Pick up a copy at your local library. It's free. Tax liens aren't that complicated. Google "tax liens". Look for a free e-book download from companies that have links to tax liens. Things to consider with tax liens include the reinstatement period and redemption period. If you're thinking that you can pick up a piece of property on an unpaid lien, think again, it's not that simple. You may end up with a piece of land in the middle of nowhere that now you will have to pay the property tax on, or a lien on a property that the owner has file bankruptcy on. Most will be redeemed anyways. For those that pick up a good property, that's great! Look for properties that are near "free & clear". Tax liens are good investments, some states offer better opportunities than others, but do your research. Research here on BP for comments from other tax lien investors.