Becoming a millionaire through tax deeds

[Nat C.]

I went to the local real estate investors meetup this week. The featured speaker was talking about tax deed sales. He claims he became a multi-millionaire through tax deeds. He also said he made dozens of his students millionaires. The basis of his talk was that he buys tax deeds which return around 20% interest when redeemed. However he stated he predominantly buys tax deeds from properties where the owner has died and in 79% of cases he ends up taking title of the property. He said he could teach all the secrets but you had to come to his half day course....cost was only $70. However if you wanted to really learn the technique you had to attend his $3000 boot camp and buy his software. I don't know much in this area however I know in Miami there is no way buying a tax deed with earn you 20% interest. There's an auction where prices are bid down and you're looking at getting 1% interest. I'm curious to know what people's thoughts are on this persons claims. Possible or is it another guru scam?

[Brian Sampson]

Guru scam. Tax deed sales can make you good money, but you don't need somebody's "secrets" to do it. Just learn which states are "tax deed" states, then learn how they handle the sale of their properties. Every state has different laws for these sales and some states are better than others.