Out Of State Tax Lien Certs. Are They Worth It?

Comments(6)

• 
  richen1st December, 2003

  Mike,
  
  I would certainly not suggest that you buy any liens or anything sight unseen, especially since many times, it is through tax liens that you can purchase totally useless and worthless properties, and worse yet, costly properties that may be superfund sites, and you certainly do not wish to own those, for if you did, you would be legally responsible for the cleanup costs! And the government will thank you for that!
  
  Especially in the tax lien business, make darn sure to see the property yourself. Even if you can get loads of info on assessors websites sometimes nowadays, it is a well known fact that sometimes they too are totally inaccurate, or maybe the "house" in the picture has burned down meanwhile, or a flood has totally ruined it, and you would have no way of knowing without having examined it first hand. Would you buy a house sight unseen, based only on hearsay? Good luck!
  
  RC

• 
  Gyva2nd December, 2003

  Hummm very true, now when checkin on these what do you look up the deed, or title to find these negative extras and hidden costs that we don't want to involve ourselves in? And another good question will all hidden cost be here, that is the spot I asked for in the first question lol.
  
  Thanks!!!!!!
  
  Mike...

• 
  GlennI2nd December, 2003

  Lets try addressing your times one at a time:
  
  If you want to find how how to perform "due dilligence" I suggest you look at articles in this forum to get a "basic" understanding of what some of the important items to look for are.
  
  Second -- it sems like you want someone to provide you a step by step cookbook as to how to proceed in this area. I strongly advise against that, and that you do some basic research yourself instead of expecting someone to give you instructions that may or may not work for you.
  
  So:
  1) Do some reading and learning yourself to at least get a background in this area. OR find/pay someone to mentor you; expect to do lots of work on your own.
  
  2) Read various articles and posts to further your background.
  
  I find it depressing that you want to ask questions but seem dis-inclined to do some work yourself.

• 
  Gyva2nd December, 2003

  sorry you think that, I've been doing nothing but reading.... reading, and reading. The questions I ask are ones either I have read and just want a second opinion on, or honestly haven't found yet. As for wanting someone to put it on a plate for me and chew it too, your wrong. I'm working. its just quicker sometimes to ask. So thank you for your concern. If someone would like to help, is there a book on tax deeds. That would be awesome.
  
  Thanks to everyone that has helped me!!!
  
  Mike...

• 
  priya4th December, 2003

  I too would love to hear about good tax lien books. There are so many out there!
  
  Thanks,
  Priya

• 
  richen10th December, 2003

  The reason why i keep recommending John Lane's Comprehensive Guide to Tax Sales in his website http://www.taxsalelists.com is because it is an A to Z instruction manual on how to buy tax lilens, and you can do it step by step instrudted by someone with 16 years of managing and purchasing about $1 billion intax liens for institutional investors. It is the best book about how to do this kind of investment that I have ever seen or expect to ever see. Good luck!
  
  RC