Thanks for everyone who participated in the Over-the-Counter Teleseminar. We enjoyed speaking with you and addressing your questions about investing through the mail. I know many of you are going through the lists right now and I am personally helping.

Before I talk about the focus of this newsletter, here is a simple question to answer.

Can you really buy a property for only $150?

The answer is yes - if you don't mind investing in the "Bread Basket." I am talking about a recent sale that I attended in Leavenworth, Kansas, which I don't personally refer to as the bread basket, but many others do. In fact, when Bryan and I were flying to New York just the other day, we overhead a rowdy group of health care professionals refer to Kansas City as the Bread Basket. They were happy to get away from our cold spell and return to the Garden State of New Jersey.

The Bread Basket more accurately includes several Midwestern states, which I will argue are still excellent places to invest in real estate. This somewhat misguided idea of the Midwest keeps hyper growth away allowing for more than reasonable appreciation in the range of 5 to 7 percent per year. As far as tax sale investing, this part of the country is still relatively undiscovered, resulting in better deals at the local lien and deed sales.

Now, let's get back to the question. As you probably guessed, the answer is yes. It is possible to buy a property for only $150. That's what I paid for a deed on a lot near downtown Leavenworth. The lot is worth roughly $3,000 to $5,000 depending upon its use.

In another case, an investor purchased 3 acres (7 large lots) on a bluff overlooking the city with River view. He picked up all 7 building lots for only $13,000. We estimate that another $10,000 will be needed to bring in utilities and he will probably combine the one-half acre lots into 3 one-acre lots for roughly $25,000 each, resulting in a profit of over $50,000 - - not bad for a "bread basket deal."

Even in busier markets, such as New York State, it is possible to achieve similar results. One of our students just recently attended a tax deed sale in Buffalo. What happened in this sale is many properties were "struck off" to the county and properties that sold ranged from vacant lots for $500 to two-family dwellings for $8,000. Even though Buffalo's economy has struggled as of late, these prices are dirt cheap for any property on the east coast.

When Bryan and I teach seminars, we keep telling you to avoid the competitive markets. I hope a few examples have helped to prove my point.

Now, what's coming up as far as sales and other activities?

December 16 - King County, Washington (WA)
http://www.metrokc.gov/finance/treasury/foreclosure/ 

December 19 - South Dakota Tax Lien Sales - all counties

December 29 - Wyandotte County, Kansas Tax Deed Sales
http://www.wycokck.org/gen/wyco_generated_pages/Treasury__Delinquent_RE_Tax_Sale_p92.html

January 12 - Snohomish County, WA
http://www1.co.snohomish.wa.us/Departments/Treasurer/Services/forclosures.htm

January 13 - Thurston County, WA
http://www.co.thurston.wa.us/treasurer/delinquent.htm

January 14,15 - Tax Foreclosure Sale Seminar in Seattle Washington - Two full days of interactive learning from both authors/investors. To sign up, visit this link
http://www.rogueinvestor.com/tax_lien_course.html or call us at 913-381-4520.

January 20 - Cowlitz County, WA Tax Foreclosure Sale http://www.co.cowlitz.wa.us/treasurer/Foreclosure_Maps/FORECLOSURE%20AUCTION%20FACTS%202005.pdf

February

February 3 - Clark County, WA Tax Deed Sale
http://www.clark.wa.gov/treasurer/property/ForeclosureInfo.html

Be sure to watch for the next newsletter in about one week. I will profile Washington State Tax Foreclosure Sales and coming soon I will profile the latest and greatest in online tax sale investing.

Happy Holidays,

Michael Williams

P.S. For new Rogue Investors, previous newsletters are archived at: http://www.rogueinvestor.com/real_estate_newsletter/archives.html .