tax liens, deeds? - Posted by J L in S.Cali

Real Estate Investing Real Estate Law
#1

Posted by Ronald * Starr(in No CA) on March 09, 2002 at 12:33:32:

Michael--------------

Here’s an idea: study up on the certificates situation in counties near you. Read your state law, talk to people in the office that issues them, maybe study county statistics and records to see what happens. Then get other people to LOAN you the money to invest in certificates, with you promising them a rate of return which is less than you can get from the certificates. You get the rest of the return, gain experience, maybe even acquire a property, which would be a big payoff.

I emphasized “LOAN” you the money, as you do not want to get mixed up with transactions that the authorities would consider coming under securities laws. Maybe start with friends, relatives, neighbors, co-workers, etc.

Good InvestingRon Starr*************

#2

tax liens, deeds? - Posted by J L in S.Cali

Posted by J L in S.Cali on March 05, 2002 at 18:13:16:

Hey!Ive been looking into investing in real estate,homes or land parcels, but dont know where to get started.Ive seen john becks course but havent purchased it yet, also read some one mentioning “The 16% sollution”… I think that was it.Can anyone give me some insight on this area of investing or any other areas I can get started with no money or little credit?Im in S.Cali,Inland Empire area. Ive checked out S.Bernardino,Riverside county Websites and gathered a little info on there tax auctions, I just need someone with experience to let me know what I have to expect?How to get started?..Point me in the right direction …thanx

#3

Re: tax liens, deeds? - Posted by Ronald Starr(in No CA)

Posted by Ronald Starr(in No CA) on March 07, 2002 at 16:51:28:

JL–(in So CA)----------

Tax sales are all cash deals in every state but OR, I believe. You can buy some properties very cheaply, so tax sales are good for those with limited investment funds. HOWEVER, if you don’t have any money, you better start planning on saving, increasing your credit lines, or both.

I bought my first tax sale property for $2,250. Half that was my cash, the other half a cash advance on my credit card. I figured it was worth about $10K to $12K. I traded that property and another that I paid $8K at a different tax sale for four houses in Sacramento, with loans on them. Sold two of the houses for what I had invested in the properties and still own the other two, with probably about $60K-$70K in equity in them now.

You can also buy from owners before the tax sale, often very little money. Once bought a couple of lots in the Santa Cruz mountains of CA for $200, plus taking over the back taxes. Got about $6K out of that deal, I think.

I recommend buying John’s course if you are serious about the topic.

Good Investing***Ron Starr************

#4

Re: tax liens, deeds? - Posted by JL

Posted by JL on March 10, 2002 at 19:18:24:

Hey! Thanx for the insight guys,…much appreciated,…JL in Cali

#5

Re: tax liens, deeds? - Posted by michael

Posted by michael on March 09, 2002 at 01:45:51:

I bought the course and it is a very good course. Just dont’t have the funds yet to buy tax certificates