Over the next 10 days I will explain to you what your risks are with Tax Lien Certificates. I will tell you this time and time again due-dilligence is a top priority when doing anything. Here you go people I will help you learn ho to be successful you just have to follow certain steps and you cannot fail. Sorry there are too many things to put in one post but daily I will try to give you as much information as I possible can. Just remember to look me up when you do become rich and your corporation is flying high. Okay lets get to it I will try to explain in the simplest form, and here is the first risk you have to pay attention to, but you still cannot lose money just prolongs your paycheck a little longer.
If the property owner files bankruptcy. This is not in anyway going to make you lose a cent, they then just pull the property from the auction. Then the sale will go into default, but that has nothing to do with you. Bankruptcy will happen during the redemption period and the county will have to notify anyone that has a lien on the property. It does not matter if its the bank or IRS. Most banks are being sold and the county only has one address to notify so if the house is still owed 75,000 dollars the bank don't know whats going on. If the bank don't pay the taxes you get the house free and clear. Even if the IRS has a lien on the house the IRS is not into buying and selling houses so they too will let it go.
Lets say the Bank pays for the property and pays off the taxes well thats great too because then the county pays you the money you put up with all the interest that you were counting on. By the way if no body pays you then own the house you can make a lot of money instead of interest say 17% on 5,000 what would be $5850 making $850 dollars. You now will own a house you can sell for say 75,000 but just think if you were in a hurry to get money you dump it for 25,000 and make that money instantly now you made $20,000 dollars. Yeah that is right this is how to make money quick. There are a lot of ways you can learn how to look for houses that people are going to lose or if you just want to collect on the interest. Just depends on how comfortable you are with owning property all over the place. Well as I said you are the first position on the property and you are protected at all time you will not lose money you might just gain property which is not so bad either it just extends the process when people file bankruptcy.
All I can say is do your Due-Dilligence on everything. There again that is the first risk with Tax Lien Certificates in my eyes that don't seem like a risk, but some people are afraid to own property out of state. Just remember you can find real-estate agents all vower the world in later blogs I will tell you how they can be a big advantage for you to use them. I will give you the 14 steps that if you follow you can not fail in a later blog. Well hope to see you in my next blog have a great day see you soon.
Calvin
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