Tax Sales

After attending The Insiders Edge seminar this week, I became extremely ecited about purchasing tax lien certificates (TLCs) or Tax Deeds through a program that was offered there and that I will be starting next week. If you get an invitation in the mail from Dean's company to one of these seminars, you must attend.. I've been to a lot of real estate seminars, classes and training and read countless books on real estate, but systems offered at this seminar are unlike anything I've seen. There's nothing else like them that I know of, and I think I would. I mean, there are other wholesaling and profit sharing programs out there, but they're not as good or profitable, and there's nothing like the TLC program.

hello to everyone.... my name is omar and i am new to the entire tax auction investing strategy. i live in los angeles ca and would like to know what is the very first thing i should do/consider to get in on this game. i think that investing through tax auctions may be one of the cheapest ways to acquire property and that is what makes it more appealing. i have many questions and have gone through all the forums under tax sales but have noticed contradicting information. i have considered perhaps attending a rei club but dont know of any in my area nor if i will learn everything i need to know about tax sales or if attending one will be a good start. i know that these tax sales are held once a year according to what i have read here.

Article Source
http://christopherfountain.com/2010/05/13/obamacare3-8-tax-on-your-home-...

Regarding the real estate sales tax:

1) It is NOT a real estate tax. It is worse. It will be a 3.8% on ‘unearned income’. In other words, pretty much anything that is not wages from an employer.
2) At this point the tax would apply to only ‘high income’ tax payers, i.e. single tax payer of >= $200,000; married >= $250,000. BTW, another tax on being married – if not married, but jointly owning the same asset, that couple would get to make a $400,000 before the tax would kick in.
3) If the asset is a principal residence, the taxable gain is the amount of profit that exceeds $500,000.

Hi I am looking for a help in Tax Sales Investment in Upstate New York. Does anyone has an experience in this area. I would appreciate your help.

Sincerely,

I have done some research and just keep getting the run around about these things.Each town has it's own town hall and they just tell me that a lawyer takes care of the sales for them ....any info about how tax liens are aquired would be apreciated....more around middlesex county area...thanks a bunch.

Ive been searching through thousands of tax liens & came across several subdivions in 1 county. The theory is the company stopped building for whatever reason. Usually due to the economy. House and land value in the area went down, so its more expensive to buy the land and build a house then what they can sell them for after their done. Hence they have no cash flow because they stopped building. They have a certain time to pay u back with interest or u get the property. So if u go in and buy all 50 lots for 800 apeice, and they assess for 45000 apiece, u can make alot of money. 2,250,000 asessed/40,000 paid. And since they have cashflow problems, most likely they wont be able to pay back the lien with interest or get financing for it because they could go bankrupt.

Hi All,

I hope this finds you well and in great spirits!

I went to an US Marshall auction yesterday in which I was the highest bidder but I failed to do a complete check on the property. After the auction I found out that the property in question have back taxes dated since 2000. Therefore I would like to know what are my options and my chance on getting the city to reduce/forgive the taxes owe which might be close to 100k. Please advise.

Regards,

What does it mean exactly when you have alot of taxes still on the house or if you don't have any taxes at all or very low taxes? What are the pros/cons of each ?

Thank you,
-Gabriel Do Carmo

The county tax sale where I live is tomorrow and Friday. I am planning on attending, but I have a few questions. Mainly, I'd like to know if I purchase a home and it is NOT redeemed, is it possible that there may be other liens against the home (ie. a mortgage or judgement)? And if so, would it be wise to do a title search prior to purchasing? Also, I have found a few parcels that are being sold in the sale and I am not quite sure how to get the best estimate for them to determine fmv. They are in highly desired areas and at a decent price. Any help would definately appreciated. Thanks!

What is the correct procedure for finding and collecting these unclaimed funds in North Carlina and other states that the counties don't want the rightful owners to know about. All and any info on this subject would be greatly appreciated.