All Forum Posts by: Lou Gonzales

Thank you guys so much. I am just getting started and wanted to buy tax liens in Chicago, and near northern suburbs to start, only because I have owned 58 total units, SFR, duplexes, quads, 6 units, and an 18 unit in and around Chicago. I feel pretty comfortable in this area and I'm actually not looking to acquire and hold properties strictly looking for higher yield. My exit stradigy would be to hopfully have the owner redeem but if I do get the property to quickly wholesale it.

I'm starting out buying tax liens looking for returns not properties. Now I'm hearing some people saying tax liens can be a bad investment. I have done extensive research and what I keep find out is if you do your due diligence you can really minimise your risk. Is this true and what thoughts do you guys have. I would like to get as many opinions as I can.

                                                                 Thanks in advance,

                                                                     Lou 

Hello Lou Gonzales here, I am just starting out with tax liens also heard about them in a roundabout way. I was at a real estate seminar and they introduced a gentle man who gave an informational speech about using your self-directed IRA retirement fund to purchase not only real estate but other high interest yielding products permitted by law. A lot or most people don't know that you're allowed to purchase various things through your IRA which can explode your returns. I use Quest IRA as my managers, if you google Quest there is tons of information on their site or google self directed IRAs look around plenty of info. and maybe take a look at United States Tax Lien Association again lots of info, cost me $27.00 I have no affiliation with either. The one thing you will learn is how to do your due diligence. They do try to sell you but no need to buy, they give you the info you need to get started what they try to sell is a system but with the info they give you you don't need it. Check it out and good luck. Lou

Totally awesome, nose to the grindstone stay on track. Best of luck!!!!