Tax Deed Myth Busting with Saen Higgins

Tax Deed Myth Busting with Saen Higgins

While tax deed investing is a viable business, there are many myths floating around regarding how to go about it, as well as what types of returns to expect. Many industry gurus with little to no experience scam people by touting the extreme profits one can make off of a single property instantly. Well, in an effort to educate the public so that they are making decisions with their best interests at heart, I have listed below common myths that need to be busted.

  • Purchasing properties free and clearThis is not true in most cases. Usually there is some type of lien that can survive the tax deed auction in all counties. Frequently the liens that survive include but may not be limited to: city code violations, mechanic liens, environmental liens etc… Be sure to do a records search on each property before bidding on it. Consult a local attorney on which liens survive tax deed auctions so that you can keep an eye out for them.
  • Purchasing a property only for the back taxesThis is a half truth and does apply to properties purchased on over the counter lists (county owned tax delinquent properties), that said it is rare to get a property at auction for opening bid; if it’s worth anything. Be aware that there is competition in the tax deed investing industry; this is why it is important to be as accurate as possible with your estimates so you know your maximum bid for each property is a strong one. I had to mention this myth because I am tired of seeing scammers boast about acquiring $500,000 homes for only the back taxes. Though this could be possible if you foreclosed on a tax lien and additionally paid for foreclosure fees, but they probably don’t know that.
  • You will gain ownership immediatelyoften there is a waiting period once you purchase a tax deed at auction. The county may need to review the sale and approve its legitimacy, then comes all the paperwork involved in filing the deed in your name. This process can take more than 30 days. Keep this waiting period in mind, and even go so far as to inquire about how long it typically takes in counties you wish to invest in.

The more each of our students researches, the more expert they become. It honestly takes hundreds of hours of research and auction attendance to become a professional in this industry. Please take the time and realize wealth and success does not come along without hard work. Stay sharp, and question the rumors that suggest otherwise.

Sincerely,
Saen Higgins

Saen Higgins is the Co-Founder of US Tax Lien Association. He is one of the world’s foremost authorities on the subject of investing in Tax Lien Certificates and Tax Foreclosed Properties. He has been training and speaking internationally for over 25 years. Saen is passionate about sharing his philosophies on real estate investment and creating financial freedom. His extensive knowledge in the field of self-directed retirement accounts has changed the quality of life for thousands and the way they invest. Saen’s devotion to helping people creates true financial independence and is only matched by his business partner, Tony Martinez.

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Pays You: 15% Interest / Year

Address:
645 Church St, Bound Brook, NJ

Size:
2683 sq. ft.
Lot:
14,810 sq. ft.

Bedrooms:
4
Bathrooms:
2

Assessed Value:
$484,700
Market Value:
$419,700