 | Summaries and Customer Reviews are supplied by Amazon.com | Profit by Investing in Real Estate Tax Liens, the only tax lien book written by a tax lien investor, has been the top-selling tax lien book since its first release in November, 2004. In this second edition, attorney and tax lien investor Larry Loftis not only teaches how to invest invest in tax liens and tax deeds, he provides insightful, first-hand experience from his purchases around the United States. Having purchased millions of dollars of liens (and deeds) in 11 states and attended auctions in 5 additional states, Mr. Loftis provides stories from different locations around the country, giving tips on how to avoid risks, and how to beat the competition. He provides technical knowledge that only an attorney can provide, as well as "tricks-of-the-trade" that only a seasoned investor can provide. Profit by Investing in Real Estate Tax Liens also debunks the common myth that tax liens are found only on run-down properties, and shows that liens exist on every type of property. Author Loftis, who has purchased liens on properties owned by famous athletes like NBA stars and world champion boxers, national banks (like Chase Manhattan Bank and LaSalle National Bank), and even a building whose major tenant was the local sheriff's department, reveals that he has seen liens on properties owned by a 9-time Wimbledon champion, a 3-time Masters champion, a Cy Young and World Series winner, a movie icon, an international celebrity athlete/model, and even properties owned by cities, the U.S. Post Office, and even the U.S. government! In this authoritative guide, Loftis helps investors avoid the pitfalls while answering all the key questions they need to consider: * What states are lien states and what states are deed states, and how do they work? * What about the "hybrid" (as Loftis calls them) states like Texas and Georgia? * How does an investor go about bidding at tax sales? And what is the due diligence required? * What are the different requirements in each state? * Where are the risks in this type of investing, and how do I avoid them? * How long do I have to wait to get paid off, and what rate of return can I expect? * How are counties selling liens and deeds using internet auctions, and how do I start? (edited by author) |
Average Customer Rating:  good book for investors good book, i think it gave all the info you need. sometimes important items were just mentioned and he could have made a checklist for how to evaluate a worth while property but i don't think he wanted to sway people. everyone has what they believe in. i like the simple way he writes. How can you tell if a property is likely to go into bankruptcy. A good introduction I bought this book after hearing about real estate tax liens in Rich Dad, Poor Dad and having attending a local lien auction. I really wish that I had found it before that auction, as it cuts through the legalese and manages to provide a concise summary of the pros and cons of bidding at these auctions as well as the various rights one has as a lien holder. The author walks you through the process of selecting an auction to attend and what to bid on, but this process will require some time consuming due diligence to work.
I'll agree with some of the other reviewers and say that the author does focus on his home state of Florida, which is alright, especially since he does also include a lengthy summary by state of how the auctions work in each state. However, as the book is a couple of years old, these summaries may be outdated in your area and may even vary at the county level (they do in Iowa). So, this book is a good starting point, but be sure to investigate the actual terms with the local tax assessor's office before you bid on any liens or deeds.
In all honesty, I wish that the author had included fewer photos of bidding lists and properties and more stories of his experiences, especially the newer, online bidding auctions.
When I went to bid, I found that there were multiple groups of people that were just buying for one set of companies. Due to their numbers they were selected most of the time in the lottery system, as opposed to those individuals that were just biding for themselves. This is quite different from the author's experiences, which there was just one or two people representing a bank. Practical advice I bought Tax Lien books written by Larry Loftis, Jamaine Burrell and Don Sausa and read them in the order listed. All are excellent books. I recommend that you buy all 3 books if you are serious about understanding tax lien investing. I have posted reviews in a "bundled" fashion under all 3 books. You can buy all 3 books on amazon for 449.
Loftis consists of 3 parts and 2 appendices. Part one talks about tax liens, part two about tax deeds, part three about the list of states. He discusses procedures of purchasing tax certificates, strategies for investing through liens/deeds, how to compete effectively against the so-called "institutional" investors. He shows the reader how to calculate the yield under different scenarios.
Burrell's book is very detailed, matter of fact approach. All the benefits and pitfalls are covered. There are 11 chapters that discusses in detail liens, deeds, tax sale procedures, delinquent properties, bidding, income and growth, how to obtain financing, legal issues such as setting up LLCs or PCs, foreclosures, various state laws etc.
Don Sausa has takes a complex subject and simplifies it. After reading the first two books, reading Sausa's book is a breeze. It suggests a chapter a day but I think you can probably read through this entire book in about 3 hours. If goes step by step.
Investing in tax liens requires, time, patience and money. One cannot do this "on the side" but it can certainly be a full time job and I can see the potential rewards. Great Book. Very Realistic This is the best book I have read on tax lien investing to date. The author is very realistic with his approach and what to expect out of it. Tax lien investing seems like a very lucrative way to invest your money. I have read 4 books on the subject and have yet to invest. Once I get through my wish list of books I will invest. Make sure this book is on your list as you learn about tax liens. Easy to understand and very detailed After searching through the internet and other content for tax deeds and tax certificates, I finally found a reliable and step by step guide on how to really invest in tax certificates.
Very helpful to read about the author's personal experience and his tips. I was able to follow his advice, page by page and within a short time of reading his book, I was able to participate in my first tax deed sale. The book made me feel comfortable knowing what to expect every step of the way. I highly recommend this book. |  |
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