Profit by Investing in Real Estate Tax Liens: Earn Safe, Secured, and Fixed Returns Every Time 
asked by heavymetal on November 18, 2006 3:59 AM
An investment alternative that gives fixed returns of 10 to 25 percent.
Profit by Investing in Real Estate Tax Liens introduces an investment alternative that is safe, secured by real estate, administered by the government, involves no brokers, is enforced by state law, and gives fixed returns. Selling tax liens or tax deeds (depending on the state) are the two ways that counties across the country bring delinquent property taxes up-to-date. This investment is one of the least publicized and safest ways of investing in real estate, designed to give the investor either a fixed return, as in the case of investing in tax liens, or a property for 10 to 50 cents on the dollar, as in the case of a tax deed sale. In most situations, the property is ultimately transferred free of any liens, such as mortgages. Profit by Investing in Real Estate Tax Liens also debunks the common myth that tax delinquent properties are run-down and shows that liens exist on every type of property. Author Larry Loftis, an attorney and active investor, has purchased liens on properties owned by Julius "Dr. J" Erving, Hector "Macho" Camacho (world champion boxer), Chase Manhattan Bank, LaSalle National Bank, and even a building whose major tenant was the local sheriff's department! In this authoritative guide, Loftis helps investors avoid the pitfalls while answering all the key questions they need to consider:
* What's the difference between investing in tax liens and tax deeds?
* How does an investor go about bidding at tax sales? And what is the process?
* What are the different requirements in each state?
* Where are the greatest risks in this kind of real estate investing? For investors eager to get started, Loftis's action plan provides details on the next steps to take, while real-life examples in every chapter bring the concepts down to earth.
Profit by Investing in Real Estate Tax Liens introduces an investment alternative that is safe, secured by real estate, administered by the government, involves no brokers, is enforced by state law, and gives fixed returns. Selling tax liens or tax deeds (depending on the state) are the two ways that counties across the country bring delinquent property taxes up-to-date. This investment is one of the least publicized and safest ways of investing in real estate, designed to give the investor either a fixed return, as in the case of investing in tax liens, or a property for 10 to 50 cents on the dollar, as in the case of a tax deed sale. In most situations, the property is ultimately transferred free of any liens, such as mortgages. Profit by Investing in Real Estate Tax Liens also debunks the common myth that tax delinquent properties are run-down and shows that liens exist on every type of property. Author Larry Loftis, an attorney and active investor, has purchased liens on properties owned by Julius "Dr. J" Erving, Hector "Macho" Camacho (world champion boxer), Chase Manhattan Bank, LaSalle National Bank, and even a building whose major tenant was the local sheriff's department! In this authoritative guide, Loftis helps investors avoid the pitfalls while answering all the key questions they need to consider:
* What's the difference between investing in tax liens and tax deeds?
* How does an investor go about bidding at tax sales? And what is the process?
* What are the different requirements in each state?
* Where are the greatest risks in this kind of real estate investing? For investors eager to get started, Loftis's action plan provides details on the next steps to take, while real-life examples in every chapter bring the concepts down to earth.
Reviews
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This has excellent info on tax liens. I bought this book and The Beginner's Guide to Real Estate Tax Lien and Tax Deed Auctions, both combined the perfect tax auction reference.
reviewed by redapple on November 19, 2006 10:33 AM
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I bought 3 tax lien books at a real estate bookshop/workshop and I would rate this tax lien book as #2 out of the three (see my other reviews on what else I bought). I think this book was a good introduction to tax liens but there's a few things that were in it that I didn't give it 5 full stars.
Good -
** The back reference materials is probably the most helpful out of this book, specifically the directory of states and their laws.
Bad -
** I don't really like the tell-all stories of the author's auction escapades...I want to read a how-to book, I really don't want to know the person you corrected because what he said was wrong when you overheard him. I don't really want to see pictures of you and your friends at the auction.
Conclusion
** Overall a 4 out of 5 stars, but please remove some of the autobiography stuff next time.
Good -
** The back reference materials is probably the most helpful out of this book, specifically the directory of states and their laws.
Bad -
** I don't really like the tell-all stories of the author's auction escapades...I want to read a how-to book, I really don't want to know the person you corrected because what he said was wrong when you overheard him. I don't really want to see pictures of you and your friends at the auction.
Conclusion
** Overall a 4 out of 5 stars, but please remove some of the autobiography stuff next time.
reviewed by sumbuddy on November 23, 2006 2:00 AM
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I'm a rookie when it comes to tax lien investing. However, Loftis does a great job of explaining the intricacies of bidding as well as the different systems used in different states and counties.
The book was not written in a rah-rah style, but the matter of fact way in which the author's successes were chronicled has left me enthusiastic about trying to invest in tax liens and I do feel that I have almost all of the knowledge necessary to embark on my quest.
The appendix includes rundowns on all 50 states and the various methods that each state uses to conduct their auctions. I do wish more guidance was given as to how to find a list of properties available (he mentions the local newspaper), but with the large number of counties/states I guess this kind of information is disseminated differently everywhere.
Give the book a read and I think you'll be excited about the prospects of tax lien investing.
The book was not written in a rah-rah style, but the matter of fact way in which the author's successes were chronicled has left me enthusiastic about trying to invest in tax liens and I do feel that I have almost all of the knowledge necessary to embark on my quest.
The appendix includes rundowns on all 50 states and the various methods that each state uses to conduct their auctions. I do wish more guidance was given as to how to find a list of properties available (he mentions the local newspaper), but with the large number of counties/states I guess this kind of information is disseminated differently everywhere.
Give the book a read and I think you'll be excited about the prospects of tax lien investing.
reviewed by sandi on November 29, 2006 6:31 PM
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This book is a very good resource for tax lien investing and covers some states very well. Because state laws are so different and always changing, it's not feasible to write a book that has current information for every state. This book accurately describes tax lien and tax deed investing procedures for most states. I found this book to be the most complete book in print about tax liens that I have found and it even has some information on deeds. I strongly suggest this book to anyone who want to get involved in investing in tax lien certificates or tax deeds.
reviewed by redapple on November 29, 2006 7:09 PM
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I read this book twice over the weekend. It's great! I highly recommend it to everyone. Mr. Loftis did a great job of presenting his experiences at several auctions in different states. I did not take it as self-promotional fluff as one critic stated, but rather, as a way of showing the reader that he actually practices what he preaches.
He mentioned that in the larger metropolitan counties in Florida, banks such as Wachovia send college students with lots of money to bid-down the interest rate to a low 0.25%. He suggests that beginners attend tax sales in the smaller counties in order to acquire better tax liens.
Overall, the book covers the major points of tax lien investing in great detail and shows the reader how to calculate the yield under different scenarios.
AS a busy real estate broker, i don't have the time to write a review for books but given the quality of the information in this book, I felt compelled to do so. I bought a tax lien package worth almost $2000 and compared to this book, it's worthless.
I sent that package back and instead will keep this book as a reference.
Hope this review helps.
He mentioned that in the larger metropolitan counties in Florida, banks such as Wachovia send college students with lots of money to bid-down the interest rate to a low 0.25%. He suggests that beginners attend tax sales in the smaller counties in order to acquire better tax liens.
Overall, the book covers the major points of tax lien investing in great detail and shows the reader how to calculate the yield under different scenarios.
AS a busy real estate broker, i don't have the time to write a review for books but given the quality of the information in this book, I felt compelled to do so. I bought a tax lien package worth almost $2000 and compared to this book, it's worthless.
I sent that package back and instead will keep this book as a reference.
Hope this review helps.
reviewed by costa on November 29, 2006 7:17 PM