Archive for February, 2006
MAKE MONEY INVESTING
In the 25-odd years I have continued to invest tax levy. I can not tell you how many times you have asked me basic things like how to select what lien certificates to buy? What auctions to attend? Do you buy for your return on investment? "Or buy to own the property? What do after buying a certificate? What is the secret of making money with the tax privileges that the guru and I do not know why I say? And so on …
Does this sound like you?
If so read on. I'll try to explain the rationale and how it relates to making money. If you can to answer the above questions, then just skip the article.
The basic ways to make money with tax lien certificates.
There many way to make money. But the two most common methods for return on investment offered and investment to obtain full ownership of the property.
I shall return to Invest to this article and get to invest to property in another post.
Investing for the return is by far the approach most commonly taken to invest in tax lien certificates. You attend a sale of certificates to buy a couple put in a draw and wait to be rescued.
There can be much simpler.
The Louisiana statute entitles you to 1% interest per month and a 5% penalty. If you spend $ 100 January 1 and the property is redeemed on February 1 you should receive a check for $ 106. Not bad for an investment that is secured with a senior position in a piece of real estate. Let us now go to a bank and buy a CD. Today that rate for the same period is 089% or a return of about 9 cents. Be Still My Heart! At least $ 6 you can go to Mickey D's and get the Happy Meal. With you 9 cents ….. ….. What a piece of gum, if you're lucky. Think!
This is by far the most common approach to making money with tax lien certificates. You attend a government auction, buy a license and wait to be redeemed. You need do nothing more. All you need to know is when and where the tax sale is held. What is the legal interest and the redemption period and how a tax debtor (owner) to rescue the property. Almost everything can be answered by the county tax collector is conducting the tax sale. And this is where most of the guru of final sale tax of the discussion.
In Mississippi, the return is 18% per year and a 2 year period of redemption.
Return to Alabama to 12% and 3 redemption period year.
Arizona 16% yield and a period 3-year redemption.
… And so on …
There is much more than that to invest in tax certificates. But still I see a current sales tax is beyond the legal rate of return and the period of redemption. You'll have to trust me for now. This debate will far beyond the scope by time and space allotted here.
Of course, all the guru of using the greatest claim of all to sell your program.
When a property does not get redeemed and possess just for pennies on the dollar. What could be better to buy a home for a couple of dollars? Because a house for less money than a homeless man waving a can in a corner of spare change collected?
The secret boils down to knowing the law and the procedures for the county in which the property is located. State law dictates how sales are conducted. In Article 7 of Louisiana Article 25 of the State Constitution and Louisiana Revised Statutes Title 47, and the U.S. Constitution are guidance documents when is the realization of the sales tax and redemption.
You will have to invest some time and become familiar with it in any state has intend to invest. There are no secrets. Everything is recorder and documented. You just need to know where to look.
If you are serious about making money by investing in fiscal privileges will have to invest some time, energy and thought to make it happen. If you are a dreamer, then quit now. It takes work, dedication and a little cash. But it's not rocket science. At the other end the rewards can be better than they ever dreamed.
The writer of this article has a passion for investing in tax lien certificates
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