Best Tax Lien & Tax Deed Education Program

[Bill Manassero]

I've been looking at various videos and books on investing in tax liens and deeds and would like to hear from others who invest in the same.  Did you take a course or seminars?  Do you have a mentor/trainer?  Do you feel they are a good investment?

Any feedback would be greatly appreciated.  Thank you.

[David Krulac]

I've been buying at tax sales for long time and have bought hundreds of properties.  I've seen many books and courses and have bought some.  None have my highest recommendation! 

One of the big problems is that every state has different rules, laws, customs and traditions.  Even within a state there are different rules in different counties.  This is a big problem and it makes it more difficult to do, and it keeps the completion down.

1.  Every place that I've been requires 100% cash immediately or almost immediately.  One place stops the auction, and you have to pay right then before they will auction the next property.  Another place every property has to be paid within 10 minutes after the sale is over.

2.  One place will not accept cash.

3.  Another place requires you to register 2 weeks in advance and they check you out and have to approve you to bid.

4.  One place only accepts cashiers checks.

5.  One place allows the owner to pay even while the auction is going on.

6.  Some places you bid down the interest rate you'll accept.

7.  Some places you bid down the percent of ownership you'll accept, so you could be a co-owner with the person who didn't pay their taxes.

8.  Some places the one person allowed to bid on one property is selected at random.

9.  Some states have rights of redemption for the former owner, could be years

10.  Some sales wipe out all liens.

11.  Some sales wipe out NO liens.  

Its almost like you need 50 books, one for each state.

I've said before tax sales are the most treacherous way to buy real estate.

There are no sellers disclosures.

There are no home inspections.

There are no warranty deeds.

And most properties you never get to see the inside.

The hazards are there be careful.