FUN and PROFITS inTAX FORFEITEDLANDSNEWSLETTER |
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NEWSLETTER
COURTESY OF TAX RESEARCH FOUNDATION
DISCLAIMER
The following information is designed to provide accurate and authoritative information in regards to the subject matter covered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. If legal advice or other expert assistance is required, the services of a competent professional person should be sough.
(From a declaration of principles jointly
adopted
by a Committee of the American Bar Association and a Committee of
Publishers
and Associations.)
MOTIVATIONS FOR THIS WEEK
" In any moment of decision, the best thing you
can
do is the right thing.
The worst thing you can do is
nothing."
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FUN AND PROFITS IN TAX FORFEITED LANDS
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LONG DISTANCE INVESTING
If you live in Alaska can you take advantage of the opportunities in this business in all of the other states? If you live in a foreign country, can you still take advantage of the fantastic opportunities in tax-forfeited real estate in the United States? The answer is: "YOU BET YOU CAN." If you lived in the remotest part of the world as long as you have access to the internet you can take advantage of many of the great money making opportunities in this business without ever leaving the privacy of your home.
Even if you have a full time job and want to get started on a part time basis that is a simple matter.
How? Read on.
Let's take the state of Texas as an example. Regardless of where you live in this world you can invest in tax forfeited real estate in this second largest state in the U.S. Here are some of your possibilities just for Texas.
1. Write a letter or an email to the tax assessor/collector of each of the 254 counties asking for a copy of the "delinquent" tax assessment roll on a CD-ROM in a format readable and usable by your home computer. You then start mail merging the letters in your Texas manual to those delinquent property owners offering a small consideration for a quitclaim deed to their property if they have no intention of redeeming.
2. Write a letter or an email to each of the county tax collectors (addresses are in the manual) or the hundreds of Independent School Districts asking for a list of their "STRUCK OFF" or "Trust" properties. These are real properties which were offered at a tax sale and no bid was received. You can do your research over the internet because most counties are on the internet and you can research the properties by parcel I. D. Number or legal description. You can then bid on these properties by mail. In most cases there is no minimum bid. Many of us have made many good buys on properties of this type.
3. Write or email the each of the law firms (listed in the Texas Manual) asking to be placed on the list to receive notices of tax sales. You will have 3 to 4 weeks to research and contact the delinquent property owners to determine if they will give you a quitclaim deed for a small consideration in the cases where they cannot or have no intention of redeeming. You can also subscribe to Real Estate Search USA at http://www.resusa.net and subscribe to their list of properties coming up for tax sale.
4. You can follow up with the law firm or the county sheriff to determine which properties sold or did not sell. All properties on which no bid was received become struck off properties. You can wait a couple of weeks until a deed is issued to the county or Independent School District and place a low-ball bid on the properties of your choice.
These techniques will work in all the states.
You can obtain a list of properties coming up for sale in Arkansas from the Commissioner of State Lands months in advance of the scheduled auction dates. His link is on our web page at http://www.taxsales.com/counties.htm. You can even place a mail-in bid on any property coming up for sale. You can also order a list of "negotiated sale" type properties. These are the same as "struck-off" properties in Texas. You can bid on and invest in these properties by mail without ever being in Arkansas.
All Arizona counties have recently held their annual tax lien certificate sales. Each county has a list of county held certificates that are immediately assignable to anyone in the world. These certificates bear interest at the rate of 16% per annum.. You could get a list of certificates sold to individuals or firms from each of the counties and attempt to obtain the properties from the delinquent property owners during the five-year redemption period.
This technique can be utilize in all taxing jurisdictions that offer tax lien certificates. There are currently 30 states and hundreds of municipalities offering tax lien certificates to investors.
What you need is a state manual for each of the states that you are interested in. You need to study the statutes, that are in each state manual so that you know exactly how the procedures works in that state and to whom to write for the information you need. Each state is different. No two are exactly alike.
The BOTTOM LINE is that this business can be so big and so highly profitable that you could operate from any place in the world with over 100 full time employees and you could still not take advantage of one-tenth the opportunities.
We have customers from Australia, South Africa, Canada, and Japan who are using these techniques to their advantage right now.
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ONLY THOSE WHO DARE TRULY
LIVE!
Tax Research Foundation
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Houston, TX 77213-6615
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