I am new to bigger pockets and real estate investing in general. I listed to a podcast by Ross Budrakey about Tax Liens and I want to start buying tax liens right away. I was considering buying a 2 year subscription to rougeinvestor.com ($147). Can anyone vouch for this site? Is it worth it?
@Hobart King While I am not an advocate of gurus charge huge fees for their programs, $147 does not sound like an absurd amount of money. At some point as an investor, you have to be willing to take some risk. A quick glance at the website tells me there may be some valuable information there for you. But you can find books on tax lien investing on Amazon too. You need to start somewhere.
Thanks for the reply. You can actually download the first 8 chapters from Amazon of Michael Williams book (He runs rogueinvestor.com) and it's great! Lots of detailed examples and what to expect at an auction. I am probably going to do it and I will let everyone know how it goes!
Ned's Rule of Gurus
The quality of a real estate investing program in inversely proportional to the price.
Some of the best stuff is relatively inexpensive. Some of the most expensive programs are crap. As REI stuff goes this is on the low end of the price scale so it's probably pretty good.
@Hobart King Back in the 90's, in the early days of ebay (before they even went public), I bought a used guru course on tax liens. I had already bought liens locally in the late 1980's, but I wanted to learn about other states. Also, by buying used, I wasn't subjected to the calls from the course company trying to sell me more expensive upgrades. The main thing I got from the course was all the county offices in the country that held tax lien certificate and tax deed sales. Plus I bought the course for something like $25 instead of the $200-$300 original cost.
@Ned Cary - That's an awesome rule.
@Jerry K. Thanks for the info. I decided to use that money to be a bigger pockets pro member instead. I bought a book zero risk real estate by Chip Cummings and that is enough to get started. I figure once you've read a few books on the subject and online material (@Jerry K. - your blog is great by the way), there is no substitute for actually doing it.
@Hobart King Thanks for the nice comment on my blog. You'll find you're going to learn a lot as you look at different states and counties. I still make mistakes on the statutes in the states/counties I invest in! People here on BP will correct me - and I'm thankful for that.
If you are good in spreadsheets (and as a bank statistician I bet you are), you will find online tax lien and tax deed auctions addictive for the spreadsheet analysis you can do. Just remember to take action at some point.
@Jerry K. I decided to take a day off from work and drive to Indiana to participate in an auction next month. Haven't yet decided on the county. But I've already been compiling stats from the auctions over the last few years - and yes it's addicitve! I just wish I had a windows computer at home like I do at work - excel on Mac makes me want to pull my hair out. Will begin due diligence phase after I decided on a county.
Also an update: Decided to head to the library and check out Zero Risk Real Estate by chip cummings instead which is a fantastic book instead of rogue investor.com. I feel like I know enough to get involved now.
Welcome to BP! Let me know how i can be of help to you.
My two cents: I bought a book by Chip Cummins from Amazon "Zero Risk Investment" . That was one of the best RE books I have bought so far. He is was giving a Bonus thru that book and in that bonus he recommended join rogueinvestor.com. I am not sure why. Because he runs or ran his own membership on that matter and i'd rather join his. I'd love to hear some outputs on both programs. Thanks
I also read the Zero Risk Real Estate book by Chip Cummings, and found that it covers the topic pretty completely. He's been in the business awhile, and makes it easy to understand. Never heard of the other outfit, but have made some money in tax liens using Chip's book.
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