Just after I wrote a review of a few of my preferred books about tax lien investing, I got a phone asking me if I’d like to critique a brand name new edition of one of them. A 2nd edition of The 16% Answer, by Joel S. Moskowitz, is now in bookstores and I’ve just concluded reading it. It’s been a whilst (far more than 6 many years) since I study the unique model of this e-book – which was considerably outdated then, so I wasn’t sure just how diverse the 2nd edition would be from the 1st.
I was pleasantly amazed! With all of the hype and modern infomercials lately touting tax lien investing as a way to get abundant speedy, this e-book is really refreshing. Right from the starting Mr. Moskowitz sets the reader straight, giving sincere and straightforward data. I was truly impressed with the ahead to this second edition in which he likened the chances of an individual acquiring a house for pennies on the dollar from a tax lien to someone profitable one particular million dollars from a a single-dollar lottery ticket. Yeah it takes place every single now and then, but it is not probable. And then he tells you what you can expect from tax lien investing – “super-large interest combined with basic safety.”
This book is divided into 4 sections. In the initial part Mr. Moskowitz explains what tax liens are, why they are this sort of a safe investment, and why now, much more than ever before prior to you need to incorporate them in your investment program. At the finish of the segment he has a chart that reveals how tax lien certificates compare to other investments in phrases of earnings and expansion prospective, threat avoidance, security, and liquidity.
Segment two talks about how to buy tax lien certificates how to pick a state and county to make investments in and how to choose the properties to get tax liens on. It also handles bidding at the auction and buying over-the-counter and assignment liens. There is even a chapter on how to get nearby officials to help you do your because of diligence (This does not always work in each and every county, but it is definitely worth a try out).
Section 3 of The sixteen% Resolution talks about how you get compensated on a tax lien certificate and how to foreclose on the residence. Mr. Moskowitz explains how a tax lien certificate is redeemed, how to foreclose on a tax lien, and what to do with the house as soon as you foreclose on it. Segment four talks about staying away from and managing pitfalls. Mr. Moskowitz explains just what the pitfalls of tax lien investing are and how to stay away from them. That’s one thing that most tax lien investing “gurus” never notify you until you give them hundreds of bucks for coaching. I advise that anybody intrigued in tax lien investing read this book for this segment by yourself. Purchase this ebook and save your thousands for investing in tax liens!
Also incorporated in the ebook are a couple of appendixes with useful info. In Appendix I there is a chart of state laws for all of the tax lien states. Georgia is incorporated even even though it’s technically a redeemable deed state. This chart is a excellent tool, but bear in mind, just because a state has laws that enable it to have tax lien sales does not imply that they in fact have any. There are at least a few of states on this listing that possibly have only a few of counties or municipalities that have tax lien product sales, or have barely any attributes offered in their income.
Appendix II has some much more in depth data for 14 of the tax lien states (these are the states that have an fascination fee of sixteen% or greater). Some of these states are covered a lot more carefully than others. My guess is that the states that are coated well are the ones that Mr. Moskowitz personally invests in. The states that are covered extensively are: Arizona, Colorado, Florida, Georgia, and Iowa. Thorough data on the other states is missing. If you are investing in a single of the previously mentioned-pointed out states or organizing to spend in a single of these states I advise that you buy this guide. Also if you are preparing to make investments in tax liens on industrial or industrial attributes there are useful varieties for staying away from environmental issues in Appendix III.
This book is great for newbie traders in tax liens, it does not have data about tax deed investing, but it does have in depth info for four of the a lot more well-known tax lien states, and one particular redeemable deed state, furthermore common info for the other tax lien states. It also discusses investing on the web and purchasing leftover liens. You can acquire this book at a price reduction on Amazon at http://budurl.com/vdns.
Joanne Musa functions with people who want to construct an very rewarding portfolio of tax lien certificates or tax deeds Rapidly. She is the writer of the Tax Lien Investing Principles program for finding out how to spend in tax lien certificates and tax deeds for optimum profit, and founder of Tax Lien Consulting LLC, a consulting business specializing in tax lien investing coaching and education and learning. Go to www.taxlienlady.com for much more information about tax lien investing.