Taxbiz.com In Chicago
Did anybody ever purchased anything from www.taxbiz.com? Please share your experience. Also they ask for financing and pay 15-20%, which is norm in this business. I don't know how safe it is, since I have never been a lender. However, I have some money in IRA and it is not doing much for years. Gurus say that we should invest IRA money for at least 15%. Any ideas?
laura1962--(IL?)----------------
Bill Green taught us, in his "Think Like a Tycoon" book, to control our own investments and not turn our money over to other people. He also warned us away from "red ribbon" deals which have been put together by sharp people and tend to benefit us less than we expect. If somebody is selling something to you in investment land, you probably should not be buying.
Tax Lien investing is very simple, easy to learn, easy to do, and extremely safe, if a few common-sense precautions are taken. Unfortunately, because of this, it is very popular these days and thus it may be difficult to find many liens to buy, due to high competition.
However, if you spend a day or so studying up on tax liens, you should be ready to do it. Then, I suggest, you call around to a lot of different taxing entities and try to locate some that do not have many participants but do have a lot of liens available. Also, because it is possible in many jurisdictions to buy liens "over the counter" after the tax auction, you might try looking for those liens. I have found some that way.
Good Investing********Ron Starr***********
Ron,
Whereas i agree with you totally that tax lien investing is not brain surgery, as I always say myself, I also believe that it is an extraordinarily opereationally problematic and involved investment.
Whereas again, it is not even difficult operationally, necessarily, if you know all the procedures required to be done, so you don't lose your investment totally, it still is very cumbersome. To make sure what you have to do when could be a total pain for someone who has a busy schedule, or who already has a full time job somewhere else. I have many investors who have done tax lien investmens themselves before but opted to invest with me because they just don't want to mess with the headaches that goes with the investment. So it is important also to realize that. Of course, i must admit that we probably are both talking about this subject from a biased point of view. Whereas I should disclose that I invest for my investors, you probably should also disclose that you charge for "mentoring" or "teaching" others how to do it themselves. So we are both somewhat making self-promoting points, which I think we should both avoid. So this will be the last time i will mention what I do on this bb. And I think we should both avoid giving advice that impacts our businesses, don't you think?
RC
Richen-----------------
I do not do mentoring. I am not a big fan of mentoring.
I do briefly discuss how to invest in tax liens when I teach my class at the Learning Annex in San Francisco each month.
However, I do not market any educational materials intended to help people invest in tax liens.
So, I intend to continue to say to people that it is simple, easy to learn, and quite safe if one use some common sense when doing it.
I agree with you that if the lien goes beyond just a lien and one starts having to deal with getting a deed, giving notices to parties of interest, etc, that it make take some time and extra learning.
I know from reading your postings that you are an expert in tax lien investing. I would assume that that there will be plenty of people who would like to invest with you. I do not mean to discourage investors from dealing with you.
However, given the very brief information that the poster gave, I felt that s/he should be encouraged to consider doing it on her/his own.
Good Investing***********Ron Starr*********
Quote:
On 2003-11-25 01:23, laura1962 wrote:
Did anybody ever purchased anything from****Must Reach Freshman Investor status before posting URL's*** Please share your experience. Also they ask for financing and pay 15-20%, which is norm in this business. I don't know how safe it is, since I have never been a lender. However, I have some money in IRA and it is not doing much for years. Gurus say that we should invest IRA money for at least 15%. Any ideas?
This company uses your money to buy more leins for themselves they tell you 15 % but it won' t happen the best way is to buy them yourself over the counter at cook county clerk,do your HOMEWORK first. Also if they say it's covered with DEEDS it's probably swamp land