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SPECIAL REPORT: Property taxes are stealing our way of life
Vineland Daily Journal Miss a couple tax payments and you could find your dream home on the market in a tax-lien sale. There are no grace periods for those who have lost their … |
By news.google.com
To learn more about Tax Lien Investing, please visit www.TaxLienInvestingGuide.com
Often times the most successful people are the people who keep going, never give up, and are willing to do what it takes to accomplish their goals and dreams.
Many times they don’t even have a clue how they are going to accomplish what they set out to do, they just know they are going to accomplish it…
This has to be you.
You must be willing to fall down, get back up, and keep going no matter what. The winner of any race is not always the fastest person, but the person who keeps running and doesn’t give up.
Safer, Cheaper Real Estate Investing!
By Tax Liens Made Easy
To learn more about Tax Lien Investing, please visit www.TaxLienInvestingGuide.com
If you wish to contest the charges of your tax lien you should still make your payments in case you lose the decision You purchase the tax lien certificate at all auctions however the rules and regulations of the auction change from state to state While most states and counties do not hold these auctions very often therefore you should contact your county to see when the next one will be held if you are interested In terms of security of a tax lien investment the investor is assured to receive either payment or the property at a discounted rate
By freetaxlieninfo.com
To learn more about Tax Lien Investing, please visit www.TaxLienInvestingGuide.com
One thing that seems to catch some people unawares is the interest rate that is quoted for a tax sale. There are two types of interest rates - one is an interest rate and one is a penalty. Why do you care? Because it can make a substantial difference in your return on investment.
Lets assume there are two different tax lien sales, one has a 10% interest rate and the other has a 10% penalty. You buy a $1,000 lien in both sales and both liens redeem exactly 90 days later. Which one was the better investment? Let’s do the numbers.
The 10% interest rate lien will earn the following: $1,000 times 10% for 90 days will earn $24.70 (1000 X .10/365*90)=24.70. A 10% percent penalty for 90 days (or 180, 0r 365) will earn $100.00 (1000 X .10)=100. Which would you rather have? The anualized return on the penalty is 40.6% (100 / 90 X 365 /1000). So, obviously 10% is not always 10%. You need to know if you are earning a penalty or an interest rate.
Some of the penalty states are SC, TX, IL and IN. there are others. Check it out and know what you are getting.
By John Lane
To learn more about Tax Lien Investing, please visit www.TaxLienInvestingGuide.com
Here’s a quicky rundown in case you are new…
The first question most people usually ask is what are tax liens? When someone fails to pay their taxes on a piece of property, the local county government steps in and takes control of the property. They place a lien against the piece of property until the taxes are paid.
They then put it up for auction in order to get their money. The government doesn’t want to own real estate, they want their taxes instead. That’s how they function and that money has to come from someone.
This is where you come in. You then have the right to place a bid on the property in order to pay the back due taxes. If you get the bid, you get the right to make money from the property. The exact laws vary from one state to another, however, the basics usually work out like this.
You pay the back taxes, and the original owner is expected to pay you back for the back taxes plus a certain amount of interest on your investment. If they fail to pay, you then get the property free and clear and gain complete ownership of the property.
The government wants their money, that’s all. The person who originally owned the property agreed to pay the taxes when they bought it. When they fail to pay, they default on their part of the agreement and give the local government the right to come in and take the property. When they do this, they place the property in their list of delinquent tax properties list and give other people the right to pay the back taxes and gain ownership of the property.
The beautiful part of tax liens is that very few people know anything about them. This means that you can literally pick up a few properties for a fraction of what one of those would normally cost at normal price. It isn’t unheard of for someone to purchase 10 or more properties for less than $10,000.
Time to learn to make real money!
By Tax Liens Made Easy
To learn more about Tax Lien Investing, please visit www.TaxLienInvestingGuide.com
You want to learn more about what will happen if you do not pay your property taxes contact your mortgage company A tax lien is a legal claim the tax commission files against your property when you fail to pay your property taxes on time Usually you are required to pay the deposited amount in form of a certified check which is payable to the referee that is appointed by the court Long term goals should not be based on tax lien certificate investments because there is some risk involved in their purchase Each of the tax lien certificates usually allow the owner to be repaid the amount of the delinquent taxes plus interest accrued
By freetaxlieninfo.com
To learn more about Tax Lien Investing, please visit www.TaxLienInvestingGuide.com
For the first time there will be three Colorado Tax Sales on the web. For the last couple of years Jefferson County has held a web sale, but this year they will be joined by both Denver County and Weld County. Jefferson County will be October 18th, Denver County will be November 6th, and Weld County will be November 1st.
These Colorado counties have pretty good real estate on their sales although the foreclosure rate in Colorado has been one of the highest in the nation, there should be some good values for tax lien sale investors.
One word of caution - remember that in Colorado the amount you bid above the taxes owed you do not get back, so make sure you have done your due diligence and that you don’t get carried away. Also, don’t forget that this is a three year redemption period so you have to be able to post subsequent taxes for the liens that have not redeemed.
Good luck and good bidding!
By John Lane
To learn more about Tax Lien Investing, please visit www.TaxLienInvestingGuide.com
I know what your thinking, is there a such thing as a great talk with a BK lawyer???
Yes when you’re shopping for screaming deals on houses!
She told Concetta and I that her colleagues all predict that there will be even MORE forclosures in 2010!
That means the bottom is still quite a ways in the distance.
This affects us in two ways-
1) Folks definately are not paying their taxes, so it will lead to even higher chances of you picking up a property from a tax lien investment. Some areas are as high as 90%.
That means that if you buy 10 tax liens for an average price of $200 a piece, you’ll end up owning 9 of those houses!
9 house for $1800…do you think you can make a life changing profit off of that deal???
2) Buying homes out-right will lend itself to an all time profit margin for investor and the chance at a bargin dream home for everybody else.
You’ll be able to buy the home of your dreams for between 70-40% of it value just 3 years ago.
A million dollar house for $400,000…that is what dreams are made of!
Learn more about the market and how to take advantage of it!
By Tax Liens Made Easy
To learn more about Tax Lien Investing, please visit www.TaxLienInvestingGuide.com
Usually you are required to listen to the court referee announce the terms of the sale and the required deposit to be made at the time You can hide this anywhere including clocks lamps radios smoke detectors books sun glasses In case of an auction for the tax deed the property is sold to satisfy the existing delinquent taxes In terms of the biggest advantage in tax lien investing it would have to be the economy does not effect the rate or value You purchase the tax lien and not the property at the auction however if the person in debt does not pay the amount owed by the stated date you will be able to foreclose on the chosen property You can put it in your car and aim it out the window
By freetaxlieninfo.com
To learn more about Tax Lien Investing, please visit www.TaxLienInvestingGuide.com
This years Colorado Tax Lien sale will have the highest interest rate in six years. This years rate will be 15% (Colorado is the only state with a floating rate that is set each year based on the Federal Reserve Discount Rate). The sales will be in October, November and December, depending on the county.
Please remember that Colorado has a bid up system where most counties sell the lien to the bidder willing to bid the highest premium over the taxes owed. You DO NOT GET THIS PREMIUM BACK, so don’t get carried away with your bidding. There are a number of counties that do sell some or all of their liens on a “round robin” bidding method without a premium. Keep this in mind as it eliminates the risk of a bid up system. As always, you can get the lists at www.TaxSaleLists.Com
By John Lane
To learn more about Tax Lien Investing, please visit www.TaxLienInvestingGuide.com
Tax Lien Podcast