I am looking into tax lien investing. I came across United Tax lien and Market Place Pro software. Has anyone here used this company and this software platform?
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
5y
I have never used any service that costs money. I get an excel version of the list from the county where I want to buy tax liens. You can then sort and filter the list. You can look online with Google Street view and check county records.
Once you have eliminated what you don't want, you drive by whats still in your list. I do not ever bid on a property that I have not seen with my own eyes.
I don't see how any software can help with proper due diligence.
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
5y
I have never used any service that costs money. I get an excel version of the list from the county where I want to buy tax liens. You can then sort and filter the list. You can look online with Google Street view and check county records.
Once you have eliminated what you don't want, you drive by whats still in your list. I do not ever bid on a property that I have not seen with my own eyes.
I don't see how any software can help with proper due diligence.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
5y
@Jomon Kannala I am NOT familiar with wither United Tax Liens Nor their software. I did take the time to look at two of their sites.
Apparently United tax liens offers coaching. I am skeptical of all tax lien coaching. It is too easy to make tax liens sound good and risk free but they are by no means risk free or "Government Guaranteed" etc. as many sites claim. The laws are extremely complex and varied from state to state. I don't know how 7 coaches could know enough to cover all states.
Market Place Pro software gives you little that you can't get online for free now. The question is,"Is it worth $375 a month for the convenience?" The examples of leftover properties that you can buy now at face value are not at all typical of what is available. Tax sale is extremely competitive right now and returns have been driven down by the competition.
@Jomon Kannala I am NOT familiar with wither United Tax Liens Nor their software. I did take the time to look at two of their sites.
Apparently United tax liens offers coaching. I am skeptical of all tax lien coaching. It is too easy to make tax liens sound good and risk free but they are by no means risk free or "Government Guaranteed" etc. as many sites claim. The laws are extremely complex and varied from state to state. I don't know how 7 coaches could know enough to cover all states.
Market Place Pro software gives you little that you can't get online for free now. The question is,"Is it worth $375 a month for the convenience?" The examples of leftover properties that you can buy now at face value are not at all typical of what is available. Tax sale is extremely competitive right now and returns have been driven down by the competition.
Hi Ned Carey. I was researching Market Place Pro and came across BP (glad I did). I have seen your post and interested in Tax Liens as well, particularly in Maryland. I'd like to know more about Maryland's tax lien process and eager to get started.
@Jomon Kannala I am NOT familiar with wither United Tax Liens Nor their software. I did take the time to look at two of their sites.
Apparently United tax liens offers coaching. I am skeptical of all tax lien coaching. It is too easy to make tax liens sound good and risk free but they are by no means risk free or "Government Guaranteed" etc. as many sites claim. The laws are extremely complex and varied from state to state. I don't know how 7 coaches could know enough to cover all states.
Market Place Pro software gives you little that you can't get online for free now. The question is,"Is it worth $375 a month for the convenience?" The examples of leftover properties that you can buy now at face value are not at all typical of what is available. Tax sale is extremely competitive right now and returns have been driven down by the competition.
Hi Ned Carey. I was researching Market Place Pro and came across BP (glad I did). I have seen your post and interested in Tax Liens as well, particularly in Maryland. I'd like to know more about Maryland's tax lien process and eager to get started.
Vipul
Vipul, Most of the Maryland tax lien auction are hosted by Real Auction. Prince Georges county and Baltimore county do their own auctions. Go the the county website for more info on them. Prince Georges county is coming up very soon and may be to late to register.
Each county sets their own interest rate they range from about 8% to 20% in Prince Georges county. however most counties use the "High Bid Premium' method. This means you are reducing your effective interest rate if you bid over 40% of assessed value.
In Maryland the amount you bid is the amount you will pay for the house IF you eventually foreclose. The day of the sale you pay the taxes and any High Bid Premium if applicable. At the time you record your deed you pay the rest of the bid price and any new taxes and water bills that have come up since you bought the lien. The cost to foreclose is about $3,000 in legal fees.
I should add there are many tax sale experts here on BP. Many specialize in specific states and can give very detailed information. If you ask a question about tax sales it is important to mention what states you are considering investing in.
My expertise is in Maryland tax liens. Outside of MD my knowledge drops off quickly.
PS I see these are your first posts so welcome to BP.
Federal Way, WA · Member since 2017 · 5 posts · 0 votes
5y
@Jomon Kannala
I too have came across United tax leans services .
And have been wanting to ask this same quetion but didn’t get to it yet. Very interested in answer, if u find some confirmation one way or another in a different source, I would appreciate if u give us update on this thread.
Investor · Orlando, FL · Member since 2013 · 837 posts · 316 votes
5y
I have bought a Tax Deed (vs a tax lien) to control a property and then seller finance to create a real estate note. That was found through the county as mentioned by @John Underwood I see the cost is $367 per month for the software you mentioned. It would be good to hear from someone that has used it and felt the cost was justified. I'll follow this post to see if anyone chimes in with feedback.
Investor · Arlington, TX · Member since 2015 · 4 posts · 1 vote
3y
I have recently come across the United Tax Lien software Marketplace Pro, now patterning with Awesome REI LLC and charging $97.00 for a basic overview and then want $298 up front and $97/month for software primarily for tracking portfolio of liens. Did you ever find anyone using it? i'm interested in Tax Liens primarily in TX or FLA. I'm assuming on line auctions have increased since Covid?
I am looking into tax lien investing. I came across United Tax lien and Market Place Pro software. Has anyone here used this company and this software platform?
Hi Jomon. I would like to caution you on listening to replys you're getting from certain people below. Firstly, the Marketplace pro (MPP) software is not $375 a MONTH. That would be an absurd price to charge for any beginner/intermediate software platform. Secondly, although you can find some of the info MPP provides online for free, it allows for it's users to access all the necessary/needed data in one easy to find place. I don't know about you (or John Underwood), but I neither have the time nor desire to search thru tens of thousands of county websites and hard to read excel spreadsheets to find what I'm looking for. If anything, a platform like MPP is worth it just for the ease of access and use alone. It also allows its users to save, organize, and track certificate and deed purchases all in one... again, ease of use.
I recommend you go to www.awesomerei.com and do more research on UTL and www.marketplacepro.net on MPP before taking the word of these individuals below, whom admittedly never used the platform. I have done my research of UTL and seen the videos of how MPP works and all its features, so I am speaking from experience.
I went thru all the channels one goes thru to purchase the UTL program; and though I "chose" not move fwd w/ it, unlike many others in this forum, I can tell you it's worth your time to do the research of the company before taking the advice of non-users, and determine for yourself if it or isn't right for you.
And personally... I've researched other similar tax lien softwares, and even paid for a different company's software. Once my annual membership expires w/ them, I'm definitely going to purchase MPP. It's shown to be much better than other softwares in the industry. I just went w/ a cheaper software; but like they say, 'you get what you pay for'. And cheaper was definitely not better in this case.
To conclude, just take the time to do your own proper research. Read thru their entire websites, listen/view all the videos, and even call and speak w/ the company contacts to have all your questions/concerns addressed. These programs and softwares can be pricey, but if they end up having what you're looking for OR need, then it may be worth investing in it for YOUR future/financial goals. Remember it's your money & time. Do what's best for you; b/c guaranteed all these other people taking smack about UTL/MPP are either trying to discourage you from entering the industry (to minimize competition) or are just straight haters.... but that's my two sense. Hope this helps & I wish you the best. Happy Investing!