Posted by tb on May 16, 2000 at 18:51:25:
Hi Sean,
Yes, I have purchased 4 manuals from taxsales.com. Yes, I believe they are worth the money. Yes, the manuals give you a specific strategy for acquiring tax forfeited and tax delinquent properties.
I would also like to state Sean that I have also purchased John Beck`s materials from this site and have found them to be extremely helpful as well.
Good luck!
tb
Is it just me or is the government practically giving stuff away? - Posted by Ben (NJ)
Posted by Ben (NJ) on May 15, 2000 at 19:47:32:
Three events in my life have just converged to lead me to that conclusion. Firstly, I have been doing tax lien foreclosure law for five years and often come across state and federal liens on properties I am foreclosing on. As a matter of routine I join them as defendants, even if there is a chance they may have priority over my lien. I have yet to have the state or federal government challenge my lien, pay it off or even file an answer when I join them as a defendant In other words, they are walking away with their lien interest extinguished, every time! I also just did a subprime loan to an investor who picked up a nice house from the USDA at 65% of market value. Now, I read a post below that says the USDA does not even bother to show up to bid at foreclosure sales where they are the plaintiff. Can this all be coincidence or is our government just letting
money and property go without a fight? As a taxpayer, I am furious, but as an investor I am excited at the prospect. Does anyone specifically target government owned properties as a niche and consistently pick up these bargains?
Re: Is it just me or is the government practically giving stuff away? - Posted by Rob FL
Posted by Rob FL on May 16, 2000 at 08:04:14:
I think the next big opportunity for government real estate will be HUD’s. At least in my area.
Ever since HUD hired brokers to put their property into MLS, the properties have generally been overpriced and many times sit on the market for months. Just in the last 2 months or so, I have noticed HUD getting price slashes.
HUD just unloaded a ton of properties to city governments for $1. They also are relisting old listings for 50% or so of their original asking price (which is now bargain basement).
Its only a bunch of unamed taxpayers money, so why not give it away? Anyway, just a trend I have noticed.
Re: Is it just me or is the government practically giving stuff away? - Posted by joel
Posted by joel on May 16, 2000 at 02:32:05:
Do you know how I might find out about these tax forclosure sales in my local area ???
Joel
Re: Is it just me or is the government practically giving stuff away? - Posted by joel
Posted by joel on May 16, 2000 at 02:29:24:
Do you know how I might find out when these types of tax foreclosure sales take place in my local area.
Joel
Re: Is it just me or is the government practically giving stuff away? - Posted by tb
Posted by tb on May 15, 2000 at 20:21:52:
Hi Ben,
Youre not alone here Ben. Ive been purchasing Tax Forclosed Properties for the last year and consistantly win bids that are not only far under the amount of back taxes (ad velorum) owed, but also far under the “minimum bid” for these properties.
My latest acquisition is a 1.14 acre lakefront lot in a master planned community that had over $1,700 in back taxes owed to the county. The minimum bid was $1,100, I bid $100 and was successful in receiving a Limited Warranty Deed from the State.
There are a few things to clear up on the deed itself, but the FMV of this lot is somewhere in the vicinity of $25,000; marketed properly. Marketed poorly, $5,000 easy.
If you would like to talk a bit more about this niche, please write me a private email.
tb
Re: Is it just me or is the government practically giving stuff away? - Posted by phil fernandez
Posted by phil fernandez on May 15, 2000 at 20:01:17:
Ben,
The government is over burdened. The government is lazy. The employees of the government are just there to collect their pay check. One plus one plus one equals deals for the investor.
Re: Is it just me or is the government practically giving stuff away? - Posted by MM(FL)
Posted by MM(FL) on May 18, 2000 at 12:58:06:
tb,
I would like to know more about your niche with government sales. Specically, what the situations are that you can acquire a property at a sale for less than minimum bid. Please email me at isinternational@yahoo.com
I regularly attend tax deed sales where the bidding starts at the minimum. If no bids, the property is stricken to the applicant.
In 3 weeks I plan to attend a special government auction. I know all the minimum bids, have been researching them for 6 months, and have even acquired 5 preforeclosure and working on number 6.
This is a special assessment auction that may be lightly attended with over a dozen more properties to be sold. It sure would be nice to know how to get them for below the minimum.
Thanks,
MM(FL)
Re: Is it just me or is the government practically giving stuff away? - Posted by joel
Posted by joel on May 16, 2000 at 02:36:09:
Do you know how I might find out about these tax foreclosure sales in my local area ???
Joel
Re: Is it just me or is the government practically giving stuff away? - Posted by tb
Posted by tb on May 16, 2000 at 02:59:32:
Hi Joel,
You can find excellent information about tax liens and tax foreclosed properties particular to your state at www.taxsales.com.
Good luck!
tb
Re: Is it just me or is the government practically giving stuff away? - Posted by Sean Sullivan
Posted by Sean Sullivan on May 16, 2000 at 16:47:09:
Hi TB,
have you purchased a manual from taxsales.com? Are they really worth the money? Does it actually give you the tools to make a deal?
Thanks in advance!!