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Most Helpful Customer Reviews
119 of 120 people found the following review helpful:
2.0 out of 5 stars
Tax Lien review OK, but not everything,
By A Customer
This review is from: Tax Lien Certificates (Paperback)
I bought 6 books on real estate from Amazon; from basic to advanced level. I was hoping that this book would lean more towards the advanced side.For the first time learner of Tax Liens, this book was specific, informative, and written in Will-Rogers-style-plain-English. But, its not comprehensive enough to bet your new career on. It is written quite like a spoken TV-infomercial, with lots of "hard sell" of why you should be doing this, how returns are better than the stock market, how this is an undiscovered treasure...etc. Even if you filter thru the yatta yatta, it still subjects the reader to a sense of suspiciousness of the genuine opporunities in Tax Liens. After reading the book, I checked around on the internet regarding auctions of Tax Liens and linked websites. What I found was that this book missed a lot (not misinformed). For instance, California and Texas are States with Tax Deeds which are more complex and less likely to ROIs comparative to the examples in the book. Also, the complex foreclosure regulations in some States not covered can drag out the return horizon (the author only covers about 1/3 of the States). And, if you just take a look superficially at the auction results of any somewhat-populated area, you can clearly see that you are not the only one thinking about Tax Liens. Investment banks and institutional professionals have securitized Tax Liens and are a heck of a lot more informed than you or I. The Invisible Hand is already at work! The last comment is that the typefont in this book is HUGE. Literally, the book is triple the necessary thickness. I'm not a fast reader, however I read this book in one afternoon which implies to actual content...
35 of 35 people found the following review helpful:
4.0 out of 5 stars
A good start,
By
This review is from: Tax Lien Certificates (Paperback)
Yes, this is a very basic beginning to tax sales, but it really helped me to get a foot in the door. I used to know virtually nothing about tax sales, and this was the first book that I read. (I've been researching tax sales for quite a while now.) Regardless of how basic it is, I came away with the beginning of an understanding to tax sales. Some books throw you right into all of the complications and details of tax sales, but I think it's important to make sure you have the elementary concept of them in the first place.
However, after this I read "The 16 Percent Solution" by Joel Markowitz and would recommend it to anyone who already has a basic knowledge of tax sales. Also, there's a website called www.taxsale.com that teaches you even more and also shows when and where tax sales take place in each jurisdiction of every state.
37 of 40 people found the following review helpful:
5.0 out of 5 stars
Not as bad as it's been made to look,
By "montalr" (Miami, FL United States) - See all my reviews
This review is from: Tax Lien Certificates (Paperback)
Despite all the reviews to the contrary, I found this book to be an excellent introduction to tax lien certificates. I think the mistake that other reviewers have made is that they expect a book on tax liens to guide you by the hand to tell you step by step how to buy a tax lien in a particular county or state you're interested in. Well, sorry to burst your bubble but any book that would include all the possible variations in the procedures followed would probably be too big to fit on your book shelf! This is a point that Jim stresses several times throughout the book - call the county you're interested in and FIND OUT how that county does it. If you're expecting to be spoon fed on how to buy certificates you'll be sadly dissappointed...Anything you could write about how to do it will probably be out of date by the time the book is published because laws change practically every day. What's needed is a general guide with some examples and the necessary information on where to get the latest on how to go about buying a tax lien. Jim has done just that. Having read several other courses, books, etc. on tax liens myself (some of which left me wondering which way was up) I can honestly say that Jim's book has done the best job of explaining tax liens - a topic that varies so much from state to state and county to county. If you want an easy, no-thought-required, way to invest your money, look elsewhere - this method requires you to actually do some work, take time to read state and county policy, thoroughly investigate....all BEFORE you spend your first dime! But it can be highly lucrative if you do your homework. This book is the way to get started...
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