Hello does anyone know about Carnegie Academy for tax liens? I went to their seminar here in San Diego and purchased their tax lien package. They promise that I will have access to their list of liens and that they will help set me up with an investment account etc. I hope I haven't been scammed. if anyone has any info please let me know.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
8y
@Nicholas Haynes I have never heard of them. i would be wary of any company selling tax liens. If they are good investments why dont they keep them themselves. There are companies out there that sell liens to students, often as a way to get rid of bad or risky liens.
Tax liens are an investment that is easy to make sound good and risk free. It is actually difficult and full of risk.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
8y
@Nicholas Haynes I have never heard of them. i would be wary of any company selling tax liens. If they are good investments why dont they keep them themselves. There are companies out there that sell liens to students, often as a way to get rid of bad or risky liens.
Tax liens are an investment that is easy to make sound good and risk free. It is actually difficult and full of risk.
Ned hit it on the head, and as a lien lender, anyone promising you a lien only has their best interest at heart! A real investor will take the Non-Performing/ Default and flip the land for its resources and or the structure to ensure leverage and growth. Before you even start building a portfolio you should have an accountant, a title company, a general contractor, a realtor if you desire [Do a rent to own - easy to maintain and less paperwork in the event buyer changes their mind.
Go on the web and do searches at the state level. State Tax agencies are public or hire a notary that understands your requests and will do the research for you "virtual assistants. Find a lender that "protects you because you are a steward" - lien ownership is like a kid and his lollipop -" MINE!" A lender understands every nuance of "what if"
I hate that many scam artists have scared so many investors - by promising liens - or doing a Dalby! ( Russ Dalby). On the positive side, liens are not mythological creatures that perform for only a select few. Fear will keep your numbers low!
Also, education is free concerning liens, go to a state tax office and ask for the procedures, and if possible see if the local Community College has RE classes - a degree, a certificate, or a license goes a far way in a world filled with overnight guru's
@Timothy Mulkey thanks for this info because I was going to attend the event tomorrow myself. I want to learn about them and as well and glad you posted this. Are there any REIA events that are not scams that anyone has attended? I don't want to waste my time knowing I'm not going to pay thousands of dollars.
I am at a seminar for Prosource tax lien. They have a 3 day program for $600, which I don’t care for but they have a site that gives you access to the county records in a more readable format. Alleviates the issues of going through the county records and trying to find addresses. I was wondering if any other site does that? This site also lets you buy liens online on their site. NOTE - they don’t own any of these liens, they are just showing them on a site in a more comprehensible way.