The Ultimate Foreclosure Kit: The Complete Beginner's Guide to Real Estate Tax Lien and Tax Deeds
The ultimate foreclosure kit is here! Learn how to buy government instruments for a fixed and safe return of 16 percent or more. It's practically like investing without losing. Also learn how to buy properties below market value through tax foreclosures.
By Bob Johnson - February 1, 2007
One of the best books I've read on tax liens and tax deeds/government foreclosures. You don't buy this for bank foreclosures but for government foreclosures (which is often more common in some areas). I used this in time for Arizona auctions (occuring in late Jan and Feb) and so far the checklists and strategies hasn't done me any wrong. The maximum returns in Arizona is roughly 16% but you bid down to win. I was able to secure an average 13% on the tax lien instruments.
Some of the helpful things I liked were as follows:
(1) Online web resources that gave updates on upcoming tax auctions
(2) Tax lien calendar in the book that shows approx month each state holds their auctions.
(3) Easy to read and understand without any technical or law jargon.
By Donald J. Baker - February 23, 2007
The foreclosures covered in this book relates to tax deeds. Basically you could own properties for one tenth the price. The things I liked about this book were mainly that...
a.) It's written by an investor. According to his bio page, he actually invests in tax liens and foreclosures. It's not a person who writes for a living and cares about proper grammar structures, but actually someone that has experience in what he's talking about.
b.) The book is for the average Joe. Some of the foreclosure books I've read took 3-4 chapters in before you learn anything. Some books don't even tell you how to do it, they just tell you how wonderful it is to be rich and being able to invest.
a.) I think the web site for the book could be better designed. Not really a fan of white text on black background. But heck, it's free and you don't have to pay anything extra to get updates.
I would recommend this but there is a newer version of the Ultimate Foreclosure Kit, which is the Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days-Investing Without Losing Series by the same author. You should search by the ISBN number (0978834682) to find it. Found that out the hard way. I suggest getting only one of the books rather than both.