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Zero Risk Real Estate: Creating Wealth Through Tax Liens and Tax Deeds - Paperback | Diverse Reads

Zero Risk Real Estate: Creating Wealth Through Tax Liens and Tax Deeds

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Get the confidence and tools to take advantage of this growing method of investing

Tax liens sales and tax deed auctions, conducted by governmental agencies for delinquent taxes on real estate, are not new--they have been around for more than 200 years. But until recently, they remained a small niche market for investors. However, as more people become delinquent on their real estate taxes due to the increased foreclosure market, and local governments look for revenues wherever they can find them, this investing methodology has become increasingly popular - and it can be done from anywhere. Zero Risk Real Estate shows readers exactly what to look for, what to avoid, and how to get the biggest return with the smallest amount of risk.

  • Explains how to utilize the internet for research and investing from anywhere in the world!
  • Gives step-by-step advice on how to determine your investment objectives and where to find tax sale listings
  • Details how to take advantage of "over-the-counter" bargains and increase your returns
  • Shows what to do once you have your new tax certificate, and how to "cash in"

    • This is not a get-rich-quick infomercial approach--it is a real investing strategy that is expected to grow over the next several years as an appealing alternative to the stock market and other investments. Using real-life examples and case studies, this book walks you through the process step-by-step to make it easy for beginners, and shares advanced investing techniques for more experienced investors.

    ISBN-13: 9781118356470

    Media Type: Paperback

    Publisher: Wiley

    Publication Date: 10-12-2012

    Pages: 208

    Product Dimensions: 5.90(w) x 8.90(h) x 2.00(d)

    CHIP CUMMINGS is host of the nationally syndicated Financial Fitness Show and the past president of the Michigan Association of Mortgage Professionals, with over $1 billion in mortgage and real estate (buy/sell) volume. He provides consulting services to lending institutions and speaks to thousands of industry professionals each year. He has been featured on Fox News, NBC News, and MSNBC and is the author of Cashing In on Pre-foreclosures and Short Sales (Wiley).

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    Table of Contents

    Foreword Sharon Lechter xiii

    Acknowledgments xv

    Introduction xvii

    Downloadable Letters, Forms, and Scripts xix

    Demonstration Videos xxi

    Chapter 1 Understanding Tax Liens and Deeds 1

    Real Estate and the Property Tax Process 4

    What Is a Tax Lien? 6

    What Is a Tax Deed? 9

    Understanding Redemption Periods 11

    What About the Real Estate Market Collapse? 12

    What Makes These Types of Investments Zero Risk? 14

    Chapter 2 Getting Started 17

    Selecting Your Location 20

    Finding Tax Sale Listings 24

    Filtering Your Data 32

    Evaluating Different Types of Properties 33

    Conducting Internet Property Research 41

    Recruiting Local Help 43

    10 Rules for Qualifying Every Property 46

    Setting Your Bids 46

    Chapter 3 Going, Going, Gone! 49

    The First Auctions 51

    Types of Auctions 52

    Onsite Auction Tips 56

    Online Auctions—Bidding in Your Pajamas! 60

    Online Auction Strategies 61

    Cancelling Your Bid 63

    Over-The-Counter Bargains 64

    Paying for Your Winning Bid 65

    Chapter 4 Protecting Your Investment 67

    What To Do First 69

    Protecting Your Tax Lien Interest 72

    Protecting Your Tax Deed 73

    Insurance and Property Maintenance 75

    What To Do When Your Property Doesn’t Redeem 76

    Chapter 5 Taking Control of Your Property 79

    Do You Really Want To Own It? 81

    Understanding the Foreclosure Process 83

    The Costs of Foreclosure and Possession 86

    Adverse Possession 87

    Eminent Domain and Condemnation 88

    The Art of Eviction—or Not! 89

    Dealing with Former Owners 92

    Other Legal or Equitable Interest Holders 94

    Chapter 6 Avoiding and Eliminating Risk 95

    Risk Elimination 97

    The Risks of Illiquidity 103

    Managing the Property 104

    Chapter 7 Liquidation and Cashing In 107

    Creating an Exit Plan 109

    Hold and Rent Strategy 111

    Rapid Liquidation 116

    Creating Long-Term Wealth Using Installments 117

    Chapter 8 Advanced Strategies 121

    Using Traditional Funding 123

    Tapping into Private Money 124

    Corporate Investing 125

    Locating Investment Capital 126

    Investing Using Retirement Accounts 127

    Tax Strategies 130

    Unique Types of Property Deals 131

    Chapter 9 Tracking Your Investments 133

    Setting Up a Simple System 135

    Accruals and Yield Information 138

    Maintaining Contacts and Lien Lists 139

    Generating Reports 139

    Chapter 10 Taking Action 143

    What To Do Now! 145

    The Complete 13-Step Checklist 145

    Measuring Your Success 151

    Setting Goals and Evaluating Results 152

    Final Thoughts 152

    Appendix A 101 Online Resources 155

    Appendix B State Listings 161

    Glossary 165

    About the Author 179

    Index 181

    Free Bonus Forms and Videos 186