Tax Lien Property Investing
Jack grew up in a small town in Germany, went to school and eventually to college and then to the USA on an exchange program
. He did not want for anything growing up but there were no extras either. While doing this he met and married his wife. Here is his story.
Jack:
Soon after, I was making good money but working 70-hour weeks! I was the only one from my family in the USA and my wife's family was in Honduras. With out families so far away we would spend a good amount of money to see them. I continued working the job I had and in the meantime looking for another opportunity that fit my criteria, which basically were lots of money and lots of free time. We looked at least 20 different businesses and none fit the bill.
In 1999, we started real estate investing. I worked but we then discovered Tax Lien investing. It took 3 years to get this set up and I continued my job. I worked out a system that you can buy hundreds of properties and sell at a huge profit. In 2002, I bought and sold 5000 properties. As the business grew, I was able to take 4 weeks of vacation to travel and see the families. This year we are planning on three months to travel.
The advantages of tax lien property investment
There are 4 advantages actually...
1. Low risk- you buy the tax cert from the auction 2. Because it is government, it supersedes the mortgage. Moreover, if the bank does not watch itself you will be able to foreclose on it and own the property free and clear 3. It is backed by the government. This puts your tax deed in first place. 4. You do not need a lot of money to start, or know a lot about real estate In addition, it is much better than some of the other ways to make money in property.
Better than fix and flip
This beats the fix and flips because you do not have to remodel the properties and sink lots of money into them you can get really in the hole when the repairs go further than you expected. Nevertheless, with a tax deed you can buy a property for hundreds and sell it later for much more. I bought property for $323.00 and sold it in 3 days for 35,000.00. Even if it is worth less, you are making money! I got 21 properties for 3,000 I sold it in three months for 150,000.00.
Copyright (c) 2010 Jack Bosch
by: Jack Bosch
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