Welcome to Part 3 of this three-part series on over-the-counter (OTC) tax sale investing.

For new Rogue Investors, or those of you who missed Part 1 or 2, they are archived at: http://www.rogueinvestor.com/real_estate_newsletter/archives.html

To summarize:

Tax liens or deeds that are not sold at an auction are often put into another system for reselling. This process is known as buying over-the-counter. Tax liens and tax deeds can then be purchased through the mail or literally over-the-counter at the county's office, and it is first-come, first-serve. There is no stressful auction to attend, and if you can find someone to help you do your field research, there is no traveling required.

First, I would like to start off by answering a few questions some of you have had about the OTC Super List and the upcoming OTC TeleSeminar:

Question 1:

How do I keep these lists fresh and current?

Answer 1:

As part of the OTC Super List, you will get a guide that helps you find the over-the-counter lists that are available. The OTC Super List contains OTC liens and deeds from February to November 2005 - most have been collected over the last couple of months.

During the OTC TeleSeminar, I will go over how you can get the most current lists and the best ways to keep your lists updated.

Question 2:

Are you going to talk about how to do research from home with little to no traveling?

Answer 2:

Yes. We will address this during the OTC TeleSeminar.

Question 3:

What are the best states for over-the-counter investing?

Answer 3:

I spend about half of my efforts in the tax lien and tax deed investing markets researching which states have the best sales and over-the-counter lists. Each year it changes and during the OTC TeleSeminar, I will discuss where the best investing opportunities in the over-the-counter market are today and where I think they will be over the next year.

To learn more about the OTC TeleSeminar and OTC Super List, please visit http://www.rogueinvestor.com/tax_sale_lists_otc.html or give us a call at (913) 381-4520.

Now on to another great state that allows you to invest in over-the-counter liens and deeds, as well as many online auctions.

Tax lien certificate sales occur only once per year. Florida Statutes require the Tax Collector to conduct a sale of tax certificates beginning on or before June 1 for the preceding year of delinquent real estate taxes. Most counties hold sales in April and May.

Tax lien sales are conducted in an auction style with participants bidding downward on interest rates starting at 18%. The certificate is awarded to the lowest bidder. Bidding can proceed down to one-quarter%; however, Florida law allows for a minimum interest of 5% even if you bid down to one-quarter%.

Those certificates not sold at public auction are issued to the county. These over-the-counter liens are referred to as County-Held Certificates. Certificates can be purchased by mail or at the county. The Tax Collector's office is responsible for maintaining this list. In some competitive counties, very few liens will be available.

For example, last year we visited over 10 counties in Florida and about half of the counties had limited OTC lists, while the other half had good OTC lists.

County-held certificates earn the full 18% annual interest rate, and if redeemed early, you still earn the minimum 5% interest fee. Florida has a two-year redemption period from the time of the original tax sale and after 7 years liens expire. Therefore, county-held lien lists are available for 7 years from the date of the sale. Any lien older than 2 years can be taken to the deed sale almost immediately and if no one bids against you, you take ownership - if someone else wins the bid at a tax deed sale you also win because you earn the interest.

Over-the-counter tax deeds in Florida are referred to as Lands Available for Taxes. The Lands Available list is maintained by the Clerk of the Circuit Court, which is an entirely different government branch than the Tax Collector.

The process works if the tax deed application was made by the County and there are no other bidders, the clerk enters the land on a "List of Lands Available for Taxes". The county then has 90 days from the date of the auction to purchase the land for the opening bid. After 90 days, any person or governmental unit may purchase the land for the opening bid. Taxes will not be extended against parcels contained on the list, but will be added to the minimum bid as they become due. If not purchased, lands contained on the list with any certificates issued on them escheat to the county seven years after the date on which the property was offered for Tax Deed Auction.

The Clerk offers these properties for sale over-the-counter on a first-come, first-serve basis.

If you want to get serious about investing in Florida county-held certificates or lands available, I invite you to join my partner (Bryan Rundell) and me in a two-hour telephone OTC TeleSeminar with live website support. We will be profiling how to invest in liens and deeds through the over-the-counter process. We will cover over-the-counter investing in Arizona, Arkansas, Colorado, Florida, Iowa, Maine, Maryland, Massachusetts, Michigan, Mississippi, Montana, Nebraska, New Jersey, North Carolina, North Dakota, Oklahoma, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, West Virginia, Wisconsin, and Wyoming.

As part of the OTC TeleSeminar, you will be given Rogue Investor's "Guide to Over-the-Counter Tax Sale Investing." This guide contains step-by-step instructions on how to screen through over-the-counter lists so you can work through an actual list and feel comfortable about your screening expertise.

If you've signed up for our OTC TeleSeminar, I will be going over how to screen through these lists in detail.

As a special bonus, I'm including a hard copy printout of thousands of tax liens and tax deeds from over-the-counter lists that can only be obtained in person. Bryan and I do so much research on tax liens and tax deeds across the U.S. that we pick up many over-the-counter lists in person that cannot be obtained any other way.

Talk about undiscovered. Some of these hard copy-only lists are located in counties where it is rare for anyone to request the information. In fact, I am throwing in the over-the-counter lists that my partner picked up in Florida with my OTC Super List.

And remember, if you have questions I will answer them during our live OTC TeleSeminar.

If you have been looking for some additional hands-on tax-sale mentoring, but cannot attend a physical seminar, this is your chance.

If you are interested, I need you to sign up by midnight, November 18, 2005 so I can get you registered for the OTC TeleSeminar and send you the OTC Super List.

As an extra incentive to get you excited about over-the-counter investing, I am offering a huge discount for Rogue Investor customers.

Instead of paying $497, if you sign up by midnight, November 18, 2005 you will receive all of the following:

• The 2-hour Over the Counter TeleSeminar
• The Over the Counter Super List containing thousands of over-the-counter liens and deeds
• Thousands of hard copy liens and deeds in lists I obtained in person by visiting undiscovered counties across the United States

for only $297.

Long live over-the-counter investing,

Michael Williams

For more information about the OTC Super List and the OTC TeleSeminar, please visit

http://www.rogueinvestor.com/tax_sale_lists_otc.html

or give us a call at (913) 381-4520.