All Forum Posts by: Dennis Weber

@Kevin Timbers I recommend reading the book, " Profit by investing in Real Estate Liens" by Larry Loftis. It'll tell everything about liens and where to look for more info (county)

@Joshua D. I recommend reading,"Profit by Investing in Property Tax Liens", by Larry Loftis. Also I liked, "Zero Risk Real Estate", by Chip Cummings. 

95% of tax liens are redeemed. Tax Deeds, not so many. Texas is a good Tax Deed State. 25% of bid if redeemed. 

I got nothing. The only thing that comes to me is what my grandmother use to say to me all the time,"You shouldna oughtna done that".

@John Thedford  I've also been watching Lee County deed sales for the past month or so. Mostly watch them sale past my max bid and then fly by the assessed value then sell for looks like retail. Seems to be an oversupply of vacant lots in Lehigh Acres.   My brother lives in Ft Myers and he'll look at the properties first before I bid. Have you successfully bought a deed in Lee?  Have you ever seen a nice property go for assessed value or less?

@Brandon Hall  always good advice. 

@Edward Stephens

I've also read those same books. I hate Tony Robbins but I like this book. One thing mentioned in Kiyosaki's book it seems you are forgetting is that Rich Dad became wealthy because he didn't pay as much in taxes as Poor Dad. So paying 40% in taxes would seem to go against the advice. 

Why not get a HML? You'll have more money next year.

sorry @Rashad Mills if I misunderstood your post but could you tell me why you would want to do that?

The quickest and cheapest way to get these properties could be contacting the owners and buying the property for whatever the liens are. The owner doesn't make anything but it could save their credit score. Now, if the properties have a mortgage, you move to plan B and wait for the redemption period to end and buy from the lien holder. Which will be more expensive. 

perform the same due diligence as you would a normal tax deed. Make sure you don't pay more than it's worth.  Find out if there is a 6 month or 2 year redemption period, or maybe none at all.  Check for EPA liens.  You don't bid on strock offs.  You just buy them. Not a lot of good struck offs. They didn't sell at the auction for a reason.  Good luck!

@Nick Thompson

  I've seen those posts too.  But everybody says they are going to but never see anybody actually buying.  Who would you buy it from?  The county has been ordered to sell at auction.  The owner didn't sell it before it went to auction so why do you think they would sell it now?  If it goes to auction, the previous owner will get the overages minus taxes and costs. That could be a win, in their opinion.  I think the owner owns it until auction and you wouldn't be able to close in time.