September 15, 2005


Hello Rogue Investors,

I hope your summer was relaxing and you're ready for the fall harvest of money to be made in tax liens, tax deeds and real estate in general. For those of you who attended the Missouri tax lien sales, I'm sure you picked up some high quality liens. We personally attended two sales in counties near Kansas City and they were even better than last year.

What we observed at the Clay County sale was limited competition, really just one big-time investor. Most liens were obtained for 7% to 10%. Remember, a few of these liens will likely go to deed, resulting in potential returns of over 1,000%. That gets me excited.

At another smaller sale in Cass County that I attended as an observer, there were not even enough bidders to buy all of the liens.

So, next time you are bumping elbows with the crazy real estate speculators in south Florida or southern California, maybe you should consider a trip to the middle of the country.

Speaking of the middle of the U.S., Indiana, Oklahoma, Illinois and Colorado have tax sales coming up and Texas has its sales every month. In the next newsletter, I will profile one of these states, so stay tuned. In the meantime, I want to focus on Texas because we get a lot of people interested in 25% interest or ownership of property for 50% off.

If you would like to learn more about Texas or any other state through hands-on practical experience, including a live tax sale, then be sure to call us at 913-381-4520 or sign up for our 3-day field course, starting October 2, 2005:

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

September 12-30: Pennsylvania upset sales

 

September 21: Allen County, Indiana, tax lien sale

 

October 2-4: Texas Tax Deed Field Course in Austin, Texas - 3 days of training includes live auction.

 

October 3: Oklahoma tax lien sales

 

October 14 - November 23: West Virginia tax lien sales

  

October - November: Colorado tax lien sales

Texas Tax Deed Sales

In Texas, public tax sales are conducted on the first Tuesday of any month. Bidders at sales in counties with a population of 250,000 or more and in certain other counties must submit a statement of no delinquent taxes owed in order to register. All sales are to the highest bidder. The successful bidder will receive a Constable's Deed or Sheriff's Deed within 4-6 weeks after the auction date.

Investors can earn up to 50% in interest on their investment if the owner of a homestead property or property appraised as agriculture pays the taxes owed during the two-year redemption period following the tax sale (25% flat interest rate paid the first year; 50% flat interest rate paid the second year). For all other property, investors can earn a flat 25% in interest if the owner pays the taxes owed during the six-month redemption period.

If you would like personal guidance on how to make great returns on your investments in Texas, join us at our Texas Tax Deed Field Course on October 2-4, 2005. We will walk you through every step of the tax sale research process, focusing on counties in the Austin area:

  • Day 1: 8 hours of classroom training and one-on-one support. We will go over real tax sale lists to be used on Day 2.
  • Day 2: Research in the field, visiting tax sale properties and performing research at the county courthouse.
  • Day 3: LIVE Auction. We will take you to a live tax deed auction where you can watch, learn or even bid.

Don't miss this great opportunity! Sign up now by calling us toll free at 866-465-3976 or visiting our web site at: http://www.rogueinvestor.com/tax_sale_field_course.html

Many counties in Texas retain a private law firm to handle the collection of delinquent property taxes. The following law firms are commonly retained:

In Texas, the officer charged with the sale of delinquent properties is the officer (Constable or Sheriff) who posts the sale information. A private law firm retained by the county for delinquent tax collections may help prepare the sale, or conduct the sale as an agent of the Constable or Sheriff. If there is a retained law firm, tax sale information, dates and property listings are normally posted on the firm's website. Otherwise, you can contact the County Tax Assessor-Collector's Office (or sometimes the Appraisal District's Office).

Properties offered at the tax sale that are not bid on and purchased are struck off to the taxing jurisdiction that requested the sale. These properties may be available for purchase at a Judgment Bid sale, for the minimum bid amount, while the redemption periods remain effective. Properties remaining in Judgment Bid whose redemption periods have expired are processed for resale. Resales may be private, in which the county considers written offers to purchase on a case-by-case basis, or by sealed bid. In some counties, resales are by a second public auction. Resale properties have their minimum bids reduced by the taxing jurisdiction.

In most counties, the two best sources for getting a list of properties struck off at auction and held for resale are:

  • the Tax Assessor-Collector's Office
  • the private law firm retained to handle the collection of delinquent property taxes.

Visit our new website, TexasTaxDeedSales.com, for county-specific information on tax deed sales!

Happy investing,

Michael Williams

 

Disclaimer: There are no guarantees in investing. I make no assurances regarding
the investment information presented in the Rogue Real Estate Investing Report.

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