Can anyone share their experince with John Beck's gov. Tax liens sale program.?
Can anyone share their experince about John Beck's gov. Tax liens sale program. I am looking for an advice from people who actually used this program extensively and can share good things as well as bad things. Thanks!
I don't know about that particular program, but I can tell you what is out there. There are a couple different types of sales. Counties in many states sell tax lien certificates. This is where a person has not paid taxes on a property, so the Treasurer's office auctions the certificate off. The timing is different in different states, but for example, if you buy three years worth of tax lien certificates in Colorado, you own the property. If someone wants to sell the property and you only have purchased certificates for one or two years, they have to pay you the amount of the certificate plus interest. There is a book out there called "The 16% Solution." I don't recall who wrote it, but it gives state by state directions on how to purchase tax lien certificates.
Tax lien sales are different. Some states do not sale the certificates. They sale the properties. That is also in the book. Before you spend your money on a "program" I suggest you go down to your library, check out the book, and see what your options are. I know as an answer this isn't as good as if I could tell you about the program you are asking about, but it should help you know where to find out additional information.
If you are looking for an investment the certificates are a great way to go. In CO they earn 9%+ Prime. Awesome return on your money.
If the property goes into foreclosure, then the bank has to pay the taxes (your lien) before they can auction off the property.
3 Responses to “Can anyone share their experince with John Beck's gov. Tax liens sale program.?”
You can probably get some accurate opinions on creonline.com – a free forum.
Comment made on June 21st, 2009 at 3:09 pmReferences :
That buck toothed lisping baldy? If he can make so much money on tax lien sales, why is he blabbing about it to everyone? One sale would equal hundreds of book sales. You dont' buy a home for one payment of $400 free and clear- why wouldn't the bank just KEEP it?
Comment made on June 21st, 2009 at 3:45 pmReferences :
I don't know about that particular program, but I can tell you what is out there. There are a couple different types of sales. Counties in many states sell tax lien certificates. This is where a person has not paid taxes on a property, so the Treasurer's office auctions the certificate off. The timing is different in different states, but for example, if you buy three years worth of tax lien certificates in Colorado, you own the property. If someone wants to sell the property and you only have purchased certificates for one or two years, they have to pay you the amount of the certificate plus interest. There is a book out there called "The 16% Solution." I don't recall who wrote it, but it gives state by state directions on how to purchase tax lien certificates.
Tax lien sales are different. Some states do not sale the certificates. They sale the properties. That is also in the book. Before you spend your money on a "program" I suggest you go down to your library, check out the book, and see what your options are. I know as an answer this isn't as good as if I could tell you about the program you are asking about, but it should help you know where to find out additional information.
If you are looking for an investment the certificates are a great way to go. In CO they earn 9%+ Prime. Awesome return on your money.
If the property goes into foreclosure, then the bank has to pay the taxes (your lien) before they can auction off the property.
Comment made on June 21st, 2009 at 3:52 pmReferences :
Colorado Real Estate Broker
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