Product DescriptionThe Complete Guide to Real Estate Tax Liens and Foreclosure Deeds introduces you to the best investment alternative of stocks, bonds, and mutual funds. Every month, smart investors are placing their money in fixed interest rates of 16 percent or more in government-sponsored tax liens. Plus, learn how to invest in foreclosure tax deeds. All of this in 7 days! From the publishers of Investing Without Losing, ISBN 0978834607.
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I consider myself computer savvy so I was hoping to get more information than I could get from the internet or my state tax sale site. I couldn’t. This book was no help into what to expect, what are the steps that need to happen after you aquire a tax lein (no detail), and what are the typical costs after with forclosing and dealing with lawyers, courts ect. I got none of what I was looking for.
One section covers financing in order to bid on a tax sale. In my opinion if you have to borrow money or use credit cards you are not truly making an investment.
Rating: 1 / 5
I am surprised this booke is rated so high. I bought it based on the high rating and was very disappointed. Much of the book looks tacked together from Sausa’s sources and lacks cohesiveness and comprehensiveness. Much of what is outlined is common sense and when nitty gritty details are needed, hand-wavey explanations are offered or the reader is directed to basically research those points elsewhere. All in all a poorly executed book and not worth buying.
Rating: 2 / 5
Very misleading title. It was far from a complete guide. There was little discussion about due diligence and what it truly means. There was no discussion on how to perform a title search or how truly important that step is. There was nearly no discussion on how to check with the county for hazardous waste concerns (meth house) or condemned structures. The list of omissions continues throughout. The book implies that you can purchase properties at a tax auction and own them outright. While this may be true in very few cases (less than 1%?), it is NOT true for the majority of the cases. If you purchase a tax deed, you may become responsible for any liens against the property including 1st, 2nd, and 3rd mortgages, mechanical liens, water and sewer liens, etc. because the county rarely follows the required lien holder notification process that is required by law. There is no free lunch and this over-priced, under-informed book continues to assure you that there is. The title of the book should be “An incomplete guide to real estate tax liens and foreclosure deeds. Learn some stuff in a few hours to guarantee a significant loss of capital if you follow our instructions”
Rating: 1 / 5
This week I decided to learn a little more about tax liens and foreclosure deeds. I read the book The Complete Guide to Real Estate Tax Liens and Foreclosure Deeds by Don Sausa. This book in combination with The 16% Solution will give you all the information you will ever need on the subject.
The book is very short and is broken into 7 days, and the book is so short it would only take a slow reader about 4 hours to read it. The flow of chapters is really good. It works through the process from beginning to end, so if you were to use it as a reference it wouldn’t be hard at all to find what you are looking for at all.
The thing I liked most about this book was the shear amount of resources it opened my eyes to. It shows websites to find the liens and deeds and also shows websites that will offer support for selling or research. I even think this book’s resources would be great for the average real estate investor. There isn’t a lot of information that I could convey to you that I didn’t already mention in The 16% Solution blog. Although, if you are interested in tax liens and found they aren’t available in your state, consult this book because it has a full list of the states that offer foreclosure deeds. Minnesota, for example, does not offer liens, but does offer deeds. They are more expensive than liens, but you own the property directly after the sale. No one has to default on their payment for you to come into ownership of property because the state already owns the property and they just want to get rid of it. The deed is just a liability for the state, so they will give you a discounted price to take it off their hands.
Personally, I think that investing in tax liens is something that should just be done as a hobby because the return on investment does not justify the time it takes to go through the whole process. However, it is really fun to search out and go to auction. Foreclosure Deeds, on the other hand, can definitely be worth while. They require much more due diligence, but your return on investment can be incredible. With the current domestic stocks and bonds market many people are looking for alternative investments and if you analyze the current economic climate you realize the dollar is in for a real shock. . . I’m talking hyperinflation. So looking for alternative investments is a great idea and it’s fun to do. Trading in your American Greenbacks for a commodity is a great plan and if you choose real estate as your commodity, more power to you! With the book I will be reading and posting on next week, I will discuss alternative investments for you to trade your dollars for.
As I said, this book would be great for anyone interested in real estate investing. I think it’s very clear and explained in very simple terms. If you have any questions on the book don’t hesitate to ask. I would be more than happy to help anyone that wants it.
Rating: 4 / 5
I first heard about tax liens on late night commercials, and I’m glad I looked up Amazon before I purchased anywhere else. This book is very simple to read and I’ve bought another set of copies to share to some friends. I would highly recommend it for anyone wanting to know how to buy properties cheaply.
Rating: 5 / 5