Can you trusr Tax lien degital programs such as “ Prosource“

Question

Wayne Brooks · Answer

Don’t know this particular one, but there are lots of useless “programs” out there to cash in on the thought that you can make a steal on tax lien properties.  It is very complicated and every jurisdiction has different procedures and laws.  Just learn your local processes and see if it makes sense.

Dennis Weber · Answer

@Wayne Brooks is right. Every county is different so unless they teach you specific to your own county it would probably be more beneficial to just go to a sale with $1500 and waste it on bad bids. You’d learn more. You don’t say where you live so don’t know if they even have lien sales in your area. Out of state or even country investing in tax liens is not a good idea, in my opinion.

Three things I’ve noticed about people making money on tax liens.

1. They invest in their own areas.

2. They buy in volume.

3. They have enough money to let it be tied up for a long time.

Three things I’ve noticed about people making money on tax liens.

1.  They invest in their own areas.

2. They buy in volume.

3. They have enough money to let it be tied up for a long time.

Ankit Patel · Answer

@Rami Akladious I will only invest in online tax lien program for only education and making yourself comfortable with process. Most of these programs are rip off. Tax line software will not help with purchasing any lien. Information is easily available from township and other sources for free.

Bruce Lynn · Answer

@Dennis Weber    I agree with you.   Instead of spending $600 or $1500 or $40,000 on a class for tax liens, flips, wholesaling, rehabbing or anything else I wish people would just go and buy something almost anything.  They'll learn way way way more from doing, than from listening.  I'm sure some classes bring value.  However I have been to several of the tax lien seminars for the free class.  Never paid to continue after listening in the free class, because I know enough of what they told was just plain wrong in the free class, that I would never pay for the extended classes.  Some of what was told was absolute lies.   I felt really bad for the people rushing to the back of the room as for 90% of them it looked like they really couldn't afford to spend the money, and I know they'll probably never move forward investing.  I don't know if I have ever attended a session of this particular company listed above, but I often go when I see a pitch, just to see if I can pick up anything.  Problem is here from what I see is that the guys giving the seminars don't really know about Texas and most of what they seem to teach is about somewhere else.

In my experience in Texas it is vital to know what you are buying.  It's not unusual to see a fairly nice (but older) house on google street view doing my due diligence only to get to the property in person to see no house and freshly moved dirt.   Not sure what happened to the house, maybe it burned, maybe it blew down, maybe it got torn down by the city, maybe it was a meth lab....but in any case the house is gone.  Now my best laid plan to get a cheap house is lot value, in a neighborhood where lots are not really selling and certainly not at the minimum bid value.  Might be a nice buy for the next door neighbor who can double their lot size, but not likely a good investment to flip the lot in a year or two.

Be careful with the classes.  I'll venture to say most on tax liens and deeds will not really teach you what you need to know.   I would tend to pay only with someone fairly local..... I would ask what is the last auction they went to....did they go in person....did they buy anything.....ask to see the certificate or deed or see if you can look it up.

Software could help, but not sure if helpful software really exists.  Probably the one thing I would want is recent pictures.  Perhaps from the last month.  Front and back if possible.   I would want current market value and tax value.  Current liens might also help.  Lots of other info would help to, but tough to obtain I think.  Occupied or vacant might help.  Contact info for current owner might help.   Last 3 sales in the neighborhood would help.

As much as I can I try to talk to other people at the sale.  It's normally a fairly small and friendly group.

1.  Are you here to buy or watch?

2. Do you normally buy?

3. What do you buy?

4. Why did you buy that?

5. What do you think it is worth?

6. What's your exit strategy?

7. How long you been doing this?

8. What do you like to buy...what are you looking for?

9. You make any money doing this?

10. What do you see the smart people doing?

11. Who is the smartest investor here?

12. Why did that guy paid that for that house/property?

If you do that with your due diligence first on the list, and go to 12 auctions for a year....I think that will be a pretty good education....probably worth way more than the $600 or $40,000 class.

Valerie Johnson · Answer

Paid $600 to attend 3 day workshop. Content covered was very general and could have been covered in less than 1 day. Lots of fluff. Presenter was rude, used profanity and avoided questions that he didn't want to answer. On the last day they had assigned seats. Me and my guest were placed on the last row at the back of the class. I think it was so that it wouldn't be so obvious that they were ignoring us when we raised our hands to ask questions. The 3 day workshop was designed primarily to sell you a $40,000 program not to teach you about tax liens. They said complimentary parking and we ended up having to pay $10 a day. At workshop was told that if I didn't attend all 3 days I would not be given access to the website that I already paid $600 for. I also think that this company changed its name because they don't want to deal with all of the negative reviews that were attached to their previous name. I think that they are affiliated with or previously were TLBC. I asked for their business cards before I left and was told that they couldn't give them to me unless I was moving forward with the $40,000 program. They said that it was company policy to withhold their business cards if I wasn't going to purchase the upgrade. Something isn't right about that.  Do your research and due diligence. Don't be part of the "herd" that gets taken advantage of.

Michael Simpson · Answer

No they get you at the free meeting tell a bunch of stuff there going to do for you. They charge you 600.00 to go to 3 day class were there going to show you how to do there system. They promised all kinds of stuff and all they do is try to get you signed up for there scam 43,000.00. They give you a book with 4 CD that you can get same info off YouTube for free. Waste of time and 600.00.

Ned Carey · Answer

@Rami Akladious I agree with all of the above.  Investing in tax liens is my full time business.

People have often asked me what I would want included in tax lien software.  i usually give them a blank stare while I think "Why in the hell does he think software is  going to help me?" I Honestly have no idea what these software providers are offering, but I can't imagine anything that I don't already have access to. Most of what i need is in the list that the auctioneer provides.

My guess is they are giving you extra information that is just not needed, and doesn't add much if any value.

Dan Deppen · Answer

I'm not familiar with the program, but I would run away from anyone guaranteeing you will make money.

Sylvia Tsai · Answer

Please triple-check the company. One company asked $10k and promised I'll make all my fees and more in less than 6 months, but it was a scam. They took all the good deals themselves and give you leftovers that 99% will not make money. They change LLC names so they can catch more new people, so you need to deep harder to find them.

Adam Houchen · Answer

I know the OP is a year old but I figured I would chime in. I am also one of the suckers that fell for this places sales pitch. Same prices listed above. Everything has been shady so far. I have wished since that I just invested in a first rehab and flip. They are right by saying here that I would have learned more from doing that. However the tax lien side. They are a bulk buyer of tax liens and the are selling them to you from their inventory once they are matured. So by the time you get it you can start the forclosue process right away instead of waiting for the redemption period. I don't really see ANY content that is worth 40k. As a matter of fact I signed up at a private money lender and they gave me more information than I got at any of the classes for prosource.

Can you trusr Tax lien degital programs such as “ Prosource“

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