Can You Make Money Buying Tax Liens - I will tell you how to buy tax certificates and why they are such a good investment. Where else can you find something safe that offers rates as high as 36%?
And everyone wins! You, the owner, and the province. This is useful! So I'm going to show you how to buy tax certificates to prosper while helping local communities.
Can You Make Money Buying Tax Liens
Since 1972 I have been involved in real estate, but today I will specialize and tell you how to buy tax certificates.
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About 30 years ago I turned that into my business for the future, and I'm going to show you how to make it rich.
When you deal with tax certificates, you will receive lucrative checks directly from the government. Think about it.
Like checks sent by the government, you can get some from local counties when you participate in tax certificates.
You will find that your whole life will change when this happens because it is an investment that lasts for 200 years.
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Anyone can invest in tax lien certificates. You can start with $50, $500 or $500,000. Everyone has tax loan certificates and I will show you how you can make 16%, 18%, 24% and 36% of this.
I will tell you two more big mistakes that I always want to avoid making at a tax delinquent property auction.
Before we get into how to buy tax certificates, let's talk about why they are sold. Where does all this come from?
The legislature and the local county got together and said, look, we have a lot of people who don't pay property taxes.
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Basically, all property in America has a property tax. Well, this is not a big tax. It is about 1%.
This system is easy. It was made at a time when most people could not read or write. So you will find it easy for you to do. And after understanding that
The government has created a win-win situation. what does it mean? That means that the government will be happy with it; You will be happy with it and all your community will be happy.
Local government has a real problem when people don't pay because local governments get all their revenue from property taxes.
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Some investors are a little skeptical about this. Why? Because the media doesn't know this. It has been going on for 200 years, but the media has always been skeptical.
So this investment is made by the government and it is made for the benefit of all, for the benefit of the government and for your benefit. I'll show you that in the next few minutes.
Let's understand the basics first. The tax applies to all property in the United States except schools and churches. This is a very small tax, usually 1%, 2%. It's very, very low.
You can be in a state like York or California that is a little higher, but most states have very low taxes.
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If this low tax is not paid, what will the province do? The province has a real problem on its hands.
What's the problem Well, if they don't get the revenue, who's going to pay the police department? Who pays the fire department? Who will pay the teacher?
Who will fix the roads? Who pays for the court system? Local government has a lot of bills to pay, and we'll talk more about that as we go.
They have bills to pay, so they have to pay taxes. If people don't pay, what will they do?
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Today we will learn how to buy tax certificates. Those tax lien certificates are a high reward for you, a high reward for the province, and can help people who are delinquent in paying their taxes protect their assets.
So far we have learned that the legislature and the local county are meeting to raise this money. We also understood that they must have this money because they pay for all government services.
If the treasurer is not paid, I guarantee you, I have seen it for 25 years as an investor, the treasurer will seize the property. Well, what are they going to do with it?
If no one pays, they are not on the tax roll. The tax roll is the money that comes in. They want it to come. It's like coupons. They want money to keep coming in so they can pay all their bills.
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So, let's say your state issues a certificate of income tax. That means that one person in that society did not pay taxes.
When they didn't pay taxes, they were sent messages, messages, messages. If they still do not pay the tax, the province issues a tax levy certificate.
A list of them can be found in the newspaper. You can find a list of them online. Anyone can buy tax loan certificates through auction. That doesn't matter. Anyone can buy them.
That's why states that sell tax credit certificates are so lenient. You buy a certificate, but they don't fire people. They were allowed to stay there.
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Either get a new job, fix their car or fix the roof, they give themselves a year or two to recover and get things together.
In other words, when they complete their problems, they have to pay taxes. Then when they come to pay taxes, they have to pay late fees.
In some states, the late fee can be as high as 16%, in other states as high as 18%, and in other states as high as 24%. Illinois is 36%. Each state can make its own laws, and each country can make its own laws.
The lowest I have seen is 12%, and that is on Long Island in Nassau and Suffolk counties. Elsewhere, Cook County, Illinois, DuPage County, which is Chicago, my goodness, 36%. So you get the idea.
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Anyone can buy a tax loan certificate. Some of them are Rs.50 and some are Rs.500. Some of them are $50,000. All are of different sizes. Just get the list.
You can learn to get the table. If you want us to teach you how to do this, we will show you a step-by-step process on how to bid. Each state, as I said, makes its own laws.
This is a quality investment if you do. How do you make it a quality investment?
First, don't buy tax certificates if you don't know what they are. Don't go and take a note, there's a number, I'll guess.
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Each object has a number. Check the property online. Get out there and put your boots on the ground and check it out. You don't want to buy something you haven't seen.
However, a tax exemption certificate can be a high quality investment. It can be a beautiful home at a country club. It can be a farm or farm. It could be a residential area.
Don't buy junk; Buy only the right stuff. Because when buying a certificate for taxation, if you don't get the money, you get the property.
If you buy a tax loan certificate and you don't get paid, you will get the property
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It is a predictable, sure and safe investment. If you don't know, it's time you start researching. Why? Because the chance is very high. It's there all the time.
I have done this for 30 years. I have been in the real estate market for over 50 years.
It is the safest investment in America today. Why? Because you will invest in the government. You will get a check back from the government, and you will get it again and again.
Why? Every time you deposit, you get a check back. If you right buy a tax levy certificate, the property does not belong to you. If they don't pay, you get the property.
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What happens when you buy a tax certificate? You can get a paper that allows you to return up to 16%, 18%, 24% and 36%. If that's not a big deal, compare that to Passbook Savings at a local bank.
This is how provinces advertise. You can buy all the properties you want and all the tax certificates you want. I will teach you about buying tax-standard properties in another article, but this is about how to buy tax certificates.
I'm in Florida. I broadcast from a small studio behind my office and I can tell you that there are 67 counties in the state.
All counties will have tax loan certificates for sale. If you add all the county auctions together, there
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