Tax Liens and Tax Deeds

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Tax Liens and Tax Deeds

Kendall Bond
Lien Investor · San Diego, CA · Member since 2014 · 25 posts · 13 votes

I am looking for the best book/manual that you may have purchased regarding Tax Liens and Tax Deeds. The 'how to' in this industry changes from time to time so they may not be exactly up to date but the general rules explained would still apply.

I have not purchased any of these and just dove right into purchasing Tax Deeds. I have an extensive title background which allowed me to better understand the process. Still there was a pretty sharp learning curve. I know enough about tax liens (again from my title background) but I am always looking for more info.

Here are some titles from Amazon, if you have read any of them I would like to know what you thought.

  1. Real Estate Tax Deed Investing: How We Made Over One Million Dollars in Two Years by Matt Merdian and Laurence Samuels (Jan 14, 2008)
  2. Zero Risk Real Estate: Creating Wealth Through Tax Liens and Tax Deeds by Chip Cummings (Oct 12, 2012)
  3. Tax Lien and Deed Investing Quick Start Guide by Dustin Hahn (Apr 11, 2013)
  4. The Complete Guide to Investing in Real Estate Tax Liens & Deeds: How to Earn High Rates of Return - Safely by Jamaine Burrell (Aug 11, 2006)
  5. The Little Tax Lien Tax Deed Book ("They" Don't Want You To Know About): High-Interest Alternative Real Estate... by Alexander Franklin (Oct 15, 2012)
  6. Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days: Investing Without Losing Series... by Don Sausa (Feb 1, 2007)
  7. How To Research Tax Sale Tax Deed Properties: Reduce your risk prior to bidding on these property types by Sindelar (Sep 24, 2013)
  8. The 50 State Guide to Tax Lien and Tax Deed Investing by Rich Putnam and Julie Putnam (Dec 6, 2012)
  9. Profit by Investing in Real Estate Tax Liens: Earn Safe, Secured, and Fixed Returns Every Time by Larry B. Loftis (Nov 6, 2007)
  10. The Ultimate Foreclosure Kit: The Complete Beginner's Guide to Real Estate Tax Lien and Tax Deeds by Don Sausa (Jan 8, 2007)
  11. Deed Profits Today-Your Guide To Florida Tax Deed Investing by James Mikel (Jan 21, 2011)

Any others to add that you read and found to be great or horrible?

Thank you in advance.

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Rick H.
Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
10y

I don't think that a gateway product is necessarily a bad thing if it informs you about something new. After all, if its new to you and the author has told about it, they've provided value. 

Then the question becomes, 'What value is that info to you?'

It's like REIA's where you cannot educate listeners in 60-90 minutes about a topic that takes thorough study and application. The mist you can expect to get in an evening is the "what and why" of a topic.

This being said, there are authors who, for their own reasons, will write and publish a book containing their life's work for $20.00 but others won't spend the money because they they don't value information. 

Poor people have big TV's. Rich people have big libraries.

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  • Mark Rios
    Los Angeles, CA · Member since 2014 · 11 posts · 6 votes
    12y

    You only need one book. Zero Risk by Chip Cummings is good and more recent. Then go to http://www.rogueinvestor.com/ and buy the package. Every month Rogue sends out an update with links to that month's Tax Cert sales, Online auctions and Over The Counter liens.

    Try not to over analyze tax cert buying or get analysis paralysis. There are plenty of online practice auctions. Instead of more books or courses spend your time learning how to navigate and search the various assessor and treasurer websites. That's where most of your time will be spent.

    Then start putting your money out there and to work for you.

    And remember your money WILL be tied up for potentially a long time. It's not very liquid but it pays.

    3Reply
  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    12y

    My suggestion is skip the books. Go directly to local sources of information like: local tax sale attorneys and the laws in your state and your county website.

    You have said you already get the principals of tax liens. The books won't give you much more than that. The laws vary by state and in some cases local jurisdiction.

    My experience has been that Gurus learn from other gurus and spread misinformation. For example I bet many if no t most of those books will tell you that Maryland has up to 24% interest. Well not since long before I started tax lien investing a decade ago.

    I see investors from out of state get their clocks cleaned becuase they don't know MD rules. It is vital you learn the specifics of the jurisdiction that you choose to invest. You need to know those rules in detail.

    Rather than buying a book, take a tax sale attorney out to lunch. Your learn a lot more about the local rules than you will in any book. The attorney will be glad to talk as he or she would love a new client.

    Al that being said if you still want to buy a book (probably a good idea anyway) avoid ones that suggest no risk. Tax lien investing can be risky. One that I have hear recommended highly regularly is the 16% solution.

    Good luck - Ned

    4Reply
  • Susan Sindelar
    Coeur D Alene, ID · Member since 2014 · 1 post · 4 votes
    12y

    Hello Ned

    You are making some very broad assumptions about a book that you have never read. I am the author of book #7 on the list. The information provided in the manual is from direct experience. It details information on how to research real property documents prior to investing money on tax deed/certificate sales.

    It also details a whole network of local information resources that will assist the individual investor. Regardless of the state the investor will be buying in, there are uniform research resources that apply to all. This includes their local county records, title insurance companies, real estate agents, law libraries, surveyors, utility and water resource divisions etc.

    I have 100% positive feedback from all sales of the manual on Ebay and they are selling at a good pace on Amazon. My buyers would have a difference of opinion with you on the uselessness of my manual.

    I would like to send you a copy for your review. Perhaps you could then amend your opinion. It is the only one that I am aware of that focuses on research methods and does not contain a bunch of "get rich quick" hype -Thank You,

    Sindelar

    4Reply
  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    12y

    @Susan Sindelar

    I have amended my post above. My appologies to you.

    1Reply
  • Chudi A.
    Real Estate Broker · Jacksonville, FL · Member since 2012 · 31 posts · 5 votes
    12y
    1. Real Estate Tax Deed Investing: How We Made Over One Million Dollars in Two Years by Matt Merdian and Laurence Samuels (Jan 14, 2008)

    I have read this book and it contains a wealth of information.

    1Reply
  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    11y

    Well I stumbled upon this post again. Susan Sidelar never replied to my offer to review her book;  How To Research Tax Sale Tax Deed Properties. Considering she has no reviews on Amazon I thought she would jump at the chance. 

    0Reply
  • Stanley Dean
    Rental Property Investor · Burtonsville, MD · Member since 2014 · 69 posts · 9 votes
    10y

    . What is your review about Dustin Hahn or the Tax Line lady. Which one is the best to go for Tax line or Tax deed. Also are you aware of Tax Foreclosure overage business colleting finder's fee by Bob Diamond. Thank yoy very much for your insight.

    0Reply
  • John Reed
    Vendor · Draper, UT · Member since 2015 · 25 posts · 3 votes
    10y

    @Stanley Dean I have personal experience with all these programs.  I feel that they are all insightful and will give people a good starting point for Investing. In my experience programs success rate are determined based on the follow through of the students.  What specifically are you wanting to know about these programs?

    0Reply
  • Stanley Dean
    Rental Property Investor · Burtonsville, MD · Member since 2014 · 69 posts · 9 votes
    10y

    If they are reliable guidance for a new comer to get into safe investing. Also what is your opinopn about Tax foreclosure overage business

    0Reply
  • Kendall Bond
    OP
    Lien Investor · San Diego, CA · Member since 2014 · 25 posts · 13 votes
    10y

    I would nail down what your primary focus is.  Tax Liens or Deeds and why.  Tax Liens you do not acquire the property but they can be much cheaper.  Tax Deeds you own the property.  Depending on where you are buying, the tax lien process can be very different.  Also, DO NOT PAY a huge amount of money for the 'how to'. I know that many of these groups, not necessarily the ones you mentioned, use a bait a switch.  They tell you it's free then up sell you a few times and before you know it you are out $20k. 

    0Reply
  • Emmett R. McCarthy
    Attorney · Chicago, IL · Member since 2015 · 142 posts · 79 votes
    10y

    I am not familiar with any of the books so comment there, but I do agree with @Ned Carey re: the laws differ so much state-to-state and the procedures county-by-county that you need to find someone who is familiar with the specific jurisdiction in which you plan to invest. If you are looking for information about IL tax sales, let me know and I can send you lots of information. Tax liens are my primary practice area. Good luck!

    3Reply
  • April Littleton
    New to Real Estate · Dayton, OH · Member since 2015 · 37 posts · 12 votes
    10y

    Is Dustin Hahn's system an upsell product?  I stumbled on him and was  thinking about buying the $27 package to  help me with tax lien and deed investing but I don't want to waste my money if all the info is just saying buy something else.

    0Reply
  • Kendall Bond
    OP
    Lien Investor · San Diego, CA · Member since 2014 · 25 posts · 13 votes
    10y

    I can't comment on Dustin Hahn's program but I want to reiterate, decide what your goal is, to own real estate (Tax Deed) or earn interest (Tax Lien).  Many of the so-called gurus's will provide an example that shows they purchased a tax lien for some ridiculous amount, (say $100) and then ended up with the property that is worth $100K. This is so rare that i do not even describe the scenario to those I work with. 

    Once you have decided the type of investment then determine where you can make a purchase relative to your area.  If you live in California you can only purchase a Tax Deed as Liens are not sold there.  

    Last I checked Ohio had Tax Deeds AND Liens, with Tax Deeds going to the highest bidder and the Liens being sold the lowest interest bid which starts at 18%.

    2Reply
  • Joe Mclain
    Consultant · Ball Ground, GA · Member since 2015 · 228 posts · 100 votes
    10y

    Here's a good start for Tax Liens and deeds by State and its free.  http://taxlienlady.com/StateGuide.pdf

    Check it out as a "Getting Started" guide.  She has a lot of useful information.   Best of luck

    Joe

    3Reply
  • Rachel H.
    San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
    10y

    You may also want to connect with Seth Williams here. He's got a good system of finding them before they hit the tax sale. Hope that helps! 

    2Reply
  • Rick H.
    Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
    10y

    I don't think that a gateway product is necessarily a bad thing if it informs you about something new. After all, if its new to you and the author has told about it, they've provided value. 

    Then the question becomes, 'What value is that info to you?'

    It's like REIA's where you cannot educate listeners in 60-90 minutes about a topic that takes thorough study and application. The mist you can expect to get in an evening is the "what and why" of a topic.

    This being said, there are authors who, for their own reasons, will write and publish a book containing their life's work for $20.00 but others won't spend the money because they they don't value information. 

    Poor people have big TV's. Rich people have big libraries.

    9Reply
  • Ed B.
    Real Estate Investor · Sacramento, CA · Member since 2010 · 298 posts · 103 votes
    10y

    LOVE THAT QUOTE:  Poor people have big TV's. Rich people have big libraries.

    4Reply
  • Victorina Evelyn Castillo
    Brooklyn, NY · Member since 2016 · 9 posts · 5 votes
    9y

    Wow --I'm learning tremendously reading the above discussion.  This was a year ago. 

    Any update as of now, November 3, 2016?   I am focused on tax liens and have listened/watched  all the free videos by the UStaxlien association website; Dustin Hahn's; the taxlien lady.  They are all helpful and informative indeed.   However,  Ned's suggestion to learn by navigating assessor and treasurer websites, invite a local lawyer to lunch for discussion seem logical as information is coming from the source. I plan on this move.  There's nothing wrong reading the books for free at the library or bookstores.  

    i was enticed with tax liens first week of October 2016, did our due diligence, kept the momentum, and completed the online auction in Newark, NJ on October 26.  Will see how it goes when we receive the certificates.

    thank you so much

    2Reply
  • Miles Presha
    Investor · Los Angeles, CA · Member since 2015 · 90 posts · 27 votes
    9y

    Victorina...

    I'd love to hear how you do in the auction.  I, too have read all the website info and sent he free videos.  I'd like to take the next step with liens but want to hear what you thought.  Are you going for deeds or certificates?  Are you putting up a lot?

    0Reply
  • Norman Wrensch
    Real Estate Investor · Watertown, WI · Member since 2014 · 24 posts · 7 votes
    9y

    Last year I bought a house from a tax forclosure action, to my surprize some of the counties around here have sealed bids. I had heard from a friend that the house I was going to bid had been actions a coiuple times before with now offers, So I only offed $6000 for it and won it, which is less then what was owed for taxes. It needed a complete renovation but it was good and solid. 

    But these tax deeds sound very interesting It sounds as if it could be simpler and better then auctions

    I'm heading for Amazon to buy a book

    2Reply
  • Roger Wilson
    New York City, NY · Member since 2017 · 21 posts · 10 votes
    9y

    Stumbled upon this post, and can add that I have quit a bit of experience in this arena, and have read most of the books listed here.  The best ones by far are "Zero Risk Real Estate" by Chip Cummings, "Proft by Investing in Real Estate Tax Liens" by Larry Loftis, and Don Sausa's book.  These are guys that actually DO it, and share some of the in's & out's.  Great place to get started if your new, and then attend an auction.  Of course, it never hurts to tax a tax sale attorney out to lunch either....   ;-) 

    3Reply
  • Akash Sky
    Burbank, CA · Member since 2016 · 39 posts · 3 votes
    9y
    Originally posted by @Roger Wilson:

    Stumbled upon this post, and can add that I have quit a bit of experience in this arena, and have read most of the books listed here.  The best ones by far are "Zero Risk Real Estate" by Chip Cummings, "Proft by Investing in Real Estate Tax Liens" by Larry Loftis, and Don Sausa's book.  These are guys that actually DO it, and share some of the in's & out's.  Great place to get started if your new, and then attend an auction.  Of course, it never hurts to tax a tax sale attorney out to lunch either....   ;-) 

    I can confirm your statements about Larry Loftis's book.  I borrowed it from the library yesterday and read through it a few hours.  It's chalk full of useful information presented in a nice story telling fashion.

    My only issue is that the book does not go over how the income from the tax liens are taxed, i.e. short term capital gains, long term capital gains, interest income, etc.

    I plan on giving Zero Risk Real Estate a read and then invest $1-5K in Tax liens later this year.

    0Reply
  • Susan Knight
    Conway, SC · Member since 2012 · 114 posts · 44 votes
    9y
    Victorina Evelyn Castillo any updates?
    1Reply
  • Nikia Watts
    Involved In Real Estate · San Bernardino, CA · Member since 2010 · 5 posts · 1 vote
    9y

    Love this post! 

    1Reply
  • Carolyn Morales
    Investor · Jacksonville, FL · Member since 2015 · 504 posts · 217 votes
    9y

    LOW RISK INVESTING WITH FLORIDA TAX CERTIFICATES on Audible by Jodi Hockinson .it actually walks you through the entire process from delinquent tax bill to tax certificate investing, to tax deed property ownership to buying properties post auction from county land available list for the base tax with no competition. The author worked in the tax collectors office & watched this process for years. She has it on Kindle as well. Anti Guru....verifiable facts on Florida statute 197 regarding tax sales 

    2Reply
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