Forums / Property Investing / Overseas Deals / Tax Lien/Deed investing.

Viewing 19 posts - 1 through 19 (of 19 total)
  • Profile photo of Peter CzubryjPeter Czubryj
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    @peter-czubryj
    Join Date: 2006
    Post Count: 13

    Hi Everyone.

    Is anyone doing the Tax Lien certificate investing ?

    We could bounce some ideas around and maybe start a group in the  Melbourne Area.

    Is there anybody ?

    Cheers
    Peter

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,173

    I have heard of this in the USA . Could you please explain how it would work in Australia

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
    Post Count: 12,010

    I wont work in Oz.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of NewcopiaNewcopia
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    @newcopia
    Join Date: 2009
    Post Count: 5

    Hi Peter
    I have just discovered this forum I have been looking through the Results one and didn’t see this one.
    Anyway I am going to Florida to do Tommy’s training and I have seen your posts on the Dane website.
    I am in NSW Dubbo so am a bit far away from Melbourne I hope you can get a group going.

    Cheers Peter

    Profile photo of Peter CzubryjPeter Czubryj
    Participant
    @peter-czubryj
    Join Date: 2006
    Post Count: 13

    Hi Peter.

    Thanks for reply.

    Yes I would like to find someone who is doing the tax liens ,and set up a suport group and maybe meet once a month.

    cheers
    Peter

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,010

    Wow the course developers must be making a motza.

    2 forum members phoned me today who have done the Tax Lien course and are now trying to get their money back as they didnt realise it wont work in Oz.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Scott No MatesScott No Mates
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    @scott-no-mates
    Join Date: 2005
    Post Count: 3,847

    Without an understanding of whether US law applies to Oz (considering that precedents have historically come from the Aust High Court) you wonder about the old saying about certain folk & their money.

    Profile photo of ActTodayActToday
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    @acttoday
    Join Date: 2003
    Post Count: 232

    Richard,  I was at the first and so far only training organised through Property Investing.Com that included Australians and there were only 5 of us there.  I know all are buying tax liens and deeds so cannot imagine who has contacted you and reported that they are trying to get their money back.  There is a perceived problem with a part of the program but it has nothing to do with the actual training.  It is a problem that Steve has been made aware of and I believe he is seeking answers.  Perhaps it is to do with this part that people are trying to get money back.  Tax Lien and Deed purchasing can only be done in the USA and is something that anyone can do with the right information.  It can be profitable but like anything else, you need the proper information for it to succeed. 

    Judith

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
    Post Count: 12,010

    Hi Judith

    I hate to say i a disagree with you.

    Perhaps you would good enough to explain to us all how it would work under the Australian Mortgage System.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of ActTodayActToday
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    @acttoday
    Join Date: 2003
    Post Count: 232

    No problem Richard.

    It does not work under any system in Australia.  It is all done in the USA.  You first need to obtain a tax ID, either ITIN if you intend to operate under your own name or an EIN if you set up an LLC (company).  You can then purchase liens or deeds direct from the Counties with the potential for quite considerable profits.  I personally have purchased a deed on a 1/4 acre corner lot for $2600 that was valued at that time at $25,000.  I also have several liens earning 18% interest compounding annually that will be paid to me in two years at the outside.  Many liens are paid ahead of time and this is where some good quick money is earnt.  If you re-sell properties purchased as a deed even for 50% of the market value, you have a nice quick profit.  If you choose to hold a property you have the option of renting out if it is a house, building on if it is a lot, reno etc just the same as would be done here.  You do need to have funds available to sent to the USA as operating capital.  I could go on for pages but suggest that everyone think about attending Steve's conference in May next year to hear from an expert.

    Judith

    Profile photo of NewcopiaNewcopia
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    @newcopia
    Join Date: 2009
    Post Count: 5
    Qlds007 wrote:
    Wow the course developers must be making a motza.

    2 forum members phoned me today who have done the Tax Lien course and are now trying to get their money back as they didnt realise it wont work in Oz.

    Which tax lien course have they done? and would you care to elaborate? What chance do they have if they have already done the course? surely they have paid for something that has been delivered if it was not what they expected then that is not grounds for a refund.
    Cheers

    Profile photo of kiwikaurikiwikauri
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    @kiwikauri
    Join Date: 2009
    Post Count: 1
    ActToday wrote:
    There is a perceived problem with a part of the program but it has nothing to do with the actual training.  It is a problem that Steve has been made aware of and I believe he is seeking answers.  Perhaps it is to do with this part that people are trying to get money back.  Judith

    Hi Judith, what is the perceived problem with part of the program? and did you go to see Tommy in FL?

    Greg

    Profile photo of ActTodayActToday
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    @acttoday
    Join Date: 2003
    Post Count: 232

    Hi Greg,
                       Yes, I did do the mentoring with Tommy and can highly recommend it.  It is expensive but the knowledge gained and the profits possible make it worthwhile.  Have you any plans to go over? 
                       Sorry  I do not wish to elaborate on any perceived problems as they are, at this stage, just that. 

    Judith

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,010

    Judith

    Nobody said it couldnt be done in the US in fact we have been helping clients with this for nearly 15 years.

    The reference was made to Australia and was stated that it couldnt be done here in Oz.

    To be honest depending on the State 18% is not that great a return.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of MardyyMardyy
    Member
    @mardyy
    Join Date: 2012
    Post Count: 1

    I’m one for Tax Lien Investments. I’m a Melbourne-er as well. There is only one problem with doing this in Melbourne though. We’re kind of restricted from being able to look at the house itself in person. I want to learn more about this stuff. I’d be good to go if a group started up.

    Qlds007 wrote:
    Judith

    Nobody said it couldnt be done in the US in fact we have been helping clients with this for nearly 15 years.

    The reference was made to Australia and was stated that it couldnt be done here in Oz.

    To be honest depending on the State 18% is not that great a return.

    18% doesn’t seem that much but think about it. It’s guaranteed. I think it’s a great starting point. But who knows, a person who doesn’t pay their property tax might fail to pay for the for the set period they have to pay the total tax lien and the interest. You then have ownership of the property. And you basically bought it for an example $1000? That’s a jackpot in my opinion.

    Richard, you have any advice for a young investor for property investment in Melbourne, Australia?

    Profile photo of jayhinrichsjayhinrichs
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    @jayhinrichs
    Join Date: 2011
    Post Count: 1,177

    tax deed investing is a tried and true model,, and courses have been bandied about for years.

    takes effort some payoff some never do and you lose your money,,, If its a great house lets say the guys in the know are going to bid that lien down to a very low rate of return.

    If you do get into a position to own the houses its just not as simple as you take ownership you have to "Quiet the Title" and that is a court proceeding…

    some big players in the US do this for a business for certain.. And do well at it… Like anything over here in the US the best deals are worked for not just show up buy a tax deed and make a ton of money.

    Tax sales were you own the property outright can be pretty exciting,,,, Thats what my dad did in California for a living he bought literally thousands of properties from late 50S till he retired in middle 80's.. And we got some killer deals no doubt.

    However now with tax sales being on the internet and everyone bidding on them on line,,,, the deals are not nearly as prevelant because the properties get bid up real close to retail and or over retail.

    I liked it though as a young agent learning the ropes.. It was fun to buy 150 properties in one day…. 3 to 4 months of prep went into that one day….

    happy hunting

    JLH

    Profile photo of jayhinrichsjayhinrichs
    Participant
    @jayhinrichs
    Join Date: 2011
    Post Count: 1,177

    Just go to http://www.bid4assets.com  you will see all sorts of tax sales accross the US… 90% of the properties are bare land though on the western states… Mid west the homes will generally be Ghetto properteis that have been abandoned….

    though there is always a pearl :)

    Profile photo of Elle Dee EsseElle Dee Esse
    Participant
    @elle-dee-esse
    Join Date: 2008
    Post Count: 9

    I have one tax lien certificate in Florida worth $225. I have held it for two years and can now apply to convert it to a tax deed. The application fee to do this is $2,200!! So I have a few questions if anyone can help me with this.

    Firstly, here is what I know about the property:

    There are six years of unpaid taxes on this house, I hold the only certificate. The remainder are open/unpaid. Total value of around $2,000
    The most recent photo of the house was added to the county website just a week ago. It shows a house with an outside light on and a ladder against the side.
    Details on the county website of work done or approved include a roof in September of this year.
    The address of the owner as shown on the tax certificate is not the same as the address of the property.
    The value of the house for tax purposes is around $26,000
    Zillow’s estimated value of the property is around $50,000 which seems ambitious to me.

    If I apply to convert to a tax deed and the owner pays up all his outstanding taxes, will my fee be covered as well?
    If I succeed in converting what happens next?
    Since this is the only investment I have remaining in the US I am prepared to walk away from it.

    Profile photo of HalimHalim
    Participant
    @m0b1us
    Join Date: 2018
    Post Count: 1

    Hi
    I’m interest with tax deed investment. I’m non us person may i know how to open Bank account in US ? Is the only option is must flight to US to open LLC bank account ?

    And can advise what is needed during application of LLC base on your preferences (i’m understand it will have different in every country where are we from and which LLC state that we need to apply)
    Thanks
    Agus

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