Is John Beck worth it?

[Frank Windsor]

I was wondering if anyone has had any experience with John Beck's Tax lien course. The infomercial made it sound pretty good but like I was always taught "If it sounds to good to be true then it probably is". I have plenty of other questions but I thought I would see what everyone else thought first. Thank you in advance.

[Dan Auito]

I've had occasion to look the books over Frank, I wasn't that impressed and think you could save the money and just hunt down a old timer in your own backyard who could show you what you needed to do if you were just planning on investing in your local area.

[Frank Windsor]

I wish I could find someone around here. This is a pretty small town. I have found a couple of properties but people seem to think that there house with no roof or windows is worth $500,000.But I'll keep trying. I wish that there was some people around here to network with.

[Dan Auito]

Look through this list of previous posts concerning tax Lien Investing Frank. Pay attention to the experts who posted good info and network with them here by either e mailing them or private messaging. You can certainly get the help you need right here with a little digging and networking!

Get to work Frank. LOL http://www.magicbullets.com/forum/search.php?searchid=218831 The very first thread is Missouri!

[Frank Windsor]

Is there any wher on the internet to find where to buy tax liens over the counter?

[Dan Auito]

You might start an entirely new thread with the above phrase as your request Frank. That way anyone surfing the site with that info will better be able to see it and reply.

Otherwise hit the folks up that expertly replied in the past to see if they can help Frank. Sorry I couldn't directly answer the question as this isn't my cup of Joe.

[Debbie]

I was wondering if anyone has had any experience with John Beck's Tax lien course. The infomercial made it sound pretty good but like I was always taught "If it sounds to good to be true then it probably is". I have plenty of other questions but I thought I would see what everyone else thought first. Thank you in advance.

Based on my past researches, John Beck is among the least favorites for tax liens enthusiasts. However, Loftis wins hands down among the tax liens entusiasts. Loftis book is called "Profit by Investing in Real Estate Tax Liens". I've read his book several times and my Mom and I are looking forward to trying it here in October.

EDIT: OH NO!!!!! It's November and we missed it!!!!!!!! AAAARRRGGGHHHH!

[topfuel]

I was wondering if anyone has had any experience with John Beck's Tax lien course. The infomercial made it sound pretty good but like I was always taught "If it sounds to good to be true then it probably is". I have plenty of other questions but I thought I would see what everyone else thought first. Thank you in advance.

I 've seen a lot of negative remarks about John Beck online...he loves to complain about others too.

Why are you keen on tax liens? I'd rather do a short sale and get 30-50% equity rather than wait for some one to not pay their tax bill.

Several years ago I thought tax liens seemed a good idea. I over spent on a course...and then found out that there is a syndicate here in the Atlanta area that buys up most of the liens, so the little guy can't compete.

As a private lender you can earn your 15% in a few months.
Just my thoughts.

[TommyOH]

Frank,

Look up our Missouri tax lien pro starbryght. She has had very good success in Missouri tax liens. If you go here http://www.magicbullets.com/forum/member.php?u=770 it is her profile and has links to all her posts, and to send her a message. Hope that helps.

[Dan Auito]

I think Frank has been abducted by aliens? He hasn't returned to this post since he started it? :SM042:

[Bernie (WV)]

I work in the department where Tax Deeds are sold.

John Beck, in my opinion, is a joke.

The procedures for obtaining tax delinquent property varies from state to state.

I guarantee you would never acquire a home like represented in Beck's informercial, in Florida, for under a $1000 dollars, Pluuueeeze!

Would a member of Magic Bullets be willing to compile from other members, the process in your home state for purchasing tax delinquent properties?

I would be glad to do it. Email me the process in your state, I will put into a MS Word Doc, .PDF, or post it on here. I will not have time to verify what you're sending me so, please be accurate. We have most states represented here. For those that I don't get, I will do my best to get the information.

[Debbie]

Would a member of Magic Bullets be willing to compile from other members, the process in your home state for purchasing tax delinquent properties?

I would be glad to do it. Email me the process in your state, I will put into a MS Word Doc, .PDF, or post it on here. I will not have time to verify what you're sending me so, please be accurate. We have most states represented here. For those that I don't get, I will do my best to get the information.

What a splendid idea! Very generous of you!

When time permits, I'll provide it the infos, at least in Sangamon County.

[Burke]

Would a member of Magic Bullets be willing to compile from other members, the process in your home state for purchasing tax delinquent properties?

I would be glad to do it. Email me the process in your state, I will put into a MS Word Doc, .PDF, or post it on here. I will not have time to verify what you're sending me so, please be accurate. We have most states represented here. For those that I don't get, I will do my best to get the information.

Bernie,

This is already done in the Loftis book. Unfortunately, in some locales, it is different from one county to the next.

[Dan]

I found it interesting that John Reed wrote that he was friends with Beck and used to recommend him, but after the informercials and talking to Beck about it he no longer does.

[Frank Windsor]

I thought it was to good to be true but I like to get other opinions before I throw away my millions.(LOL) I am just having a pretty hard time getting started here so I check into everything I can. Hopefully things will turn around and i'll have better news to post. Thanks for everyones help.

[JSAUNDERS]

STAY AWAY- One of my biggest mistakes $$$$--- I signed up for the info, books...... Now they had a 30 day money back- recieved the books 45 days after and then I find out there are NO TAX SALES IN MY STATE!!!! Past 30 days "SORRY"

I was F'ed hard and the coaches said that I need to search harder!!!

I will look to see if I still have the materials- There yours if I still have them for shipping cost.
But I think I tossed them out.

Joel

[TommyOH]

I think everyone should keep in mind that there is no end-all, be-all real estate investing course out there. I, like many of you, buy courses several times a year. The reasons are similar to us all. Anyone who has invested much time and money into RE education realizes that each course is 90% the same as any other, 5% speculation, and 5% genuine stuff you can use.

Personally I invest in the 5% genuine stuff and don't worry about the other 95%. I don't know John Beck. I do own his course. And I can tell you that there is some information in there that is very useful. I have used many links and references in it to learn about neighboring states, and some to even help people on this board.

JSaunders: According to the program, NH is a tax lien state. Some municipalities can opt to lien the properties themselves instead of auctioning them to investors. However, once the municipality has placed the lien, and once it secures title, the properties are sold as tax deed properties. If you still have the program, it tells you where to contact about this, and provides links. Just trying to help here.

[Bill H]

Education depends on how you use it. I know of a person who has spent over $70,000.00 for books, tapes, etc...AND...has NEVER bought a single piece of real estate.

John Beck, back in the distant dark ages was and still is a good guy, persoanlly.

Bernie in FLA...Roy Stubblefield at "Taxsales.com" has the list that you are looking for. It is complete for all states. And, I might add fairly accurate. there are a few discrepancies. Things that may have changed since the list was put up.

Tax Lien Certificate and Tax Deed Investing is just as difficult as the rest of the real estate market. It is NOT a picnic and there are lots of ANTS!!!

Been dong it for years and years...my advice. Get your local state statutes. They can be obtained on line in most cases. You will most likely find them under Finance and Revenue or Tax and Revenue or in some states actually under Tax Sales in the statutes.

Read them at least THREE times to get past the legalese...go out bid and buy something....start SMALL unless you got deep pockets and can afford the loss. At the last sale I attended I goofed...yep it is costing me over 2 GRAND. Lesssons do not come cheap.

Good LUck,
Bill H

[Dan Auito]

Thanks so much Bill. It's always nice to see you post up something from your years of hard won knowledge. It is appreciated! :praise:

[JSAUNDERS]

TommyOH- Thanks for the info- The problem with Nh that it is very uncommon for the properties in NH to sit long enough for a tax deed to be issued.
Joel

[Bill H]

Jsaunders...If you are thinking of entering the tax lien/certificate business with the hopes of getting th proerty...STOP now. You are wasting your time.

Every taxing jurisiction that I know of says "Any interested party" may redeem. Now in theory you should have a valid legl interest. However that is not the case at all. States, Counties, Cities, are cash poor entities and will accept anyone's $$$ to pay the taxes.....that is their sole source of revenue.

I have purchased properties at the sale and had them go for 23 months and 29 days and be redeemed by the purchaser who got it the year after me. His only interest was that he had bought it after me and did not want it to mature to me.

I have said many time on this and other board that one year I purchased 503 liens....3....THREE...matured to me...NONE, ZILCH, NIL, NADA, of them were worth paying the remaining taxes and deeds, etc....so I just let them go back to sale the following year.

If you do get lucky chances are that a liberal judge will give it back to the owner in the Quiet Title Action that you must do to clear the title. Otherwise all you have is a Quit Calim Deed or Sheriff's Deed, etc...which will not pass muster for financing, selling, etc.

Are there ways around this. Yes. Are there attorneys and lawsuits years later, Yes. Just go to the title company website and read the title insurance stories....some will make you laugh and some will really awaken you. You will lear very quickly why title insurance companies will not insure tax titles until after about 3 years or so.

Do not misunderstand. THis is a GOOOOD business if you are in it for the interest and penalties, etc. My wife and I are free to travel anytime, anywhere we desire. We attend the sales when they come up but otherwise have nothing to anchor us anywhere.

It takes a while but using the bankers rule of 72 at 18 percent your money will double in 4 years. It beats the financial instituions CD Rates hands down.

Again I suggest you get in small, about 25 to 50K, and see what happens.

Good Luck,
Bill H

[JSAUNDERS]

Bill H- Thanks for the info- I was looking into it years ago and found it was a waste of time (of course I learned this after I couldn't get a money refund on the system):SM145:
Joel

[Dan Auito]

Thank you Bill. Your sound reasoning and experience is more than appreciated around here. If you ever want that moderators position just say the word my friend. You're what this place is all about. Thank you Bill.

[Debbie]

Thank you Bill. Your sound reasoning and experience is more than appreciated around here. If you ever want that moderators position just say the word my friend. You're what this place is all about. Thank you Bill.

That's an idea. As a co-owner, I concur with Dan.

[smidgen]

Well I think that I am bucking the treand in the room but with the tax lien investing subject on the line I had to respond.

I have been investing for 4 years now and I have made more in that time than I ever did in a 9 to 5 job. I am not rich yet but I am going to get there! I was told by a few great people in here that you need to DREAM and ACT BIG to achieve success! So far I have made over $56,000.00 in gains. I know that is not much for most people in hear but for my family it means a huge deal!

It all has to do with research and how much time you want to put into it.

[Bill H]

Hi Smidgen:

Your good fortune is worth telling about. If you read my posts I said the tax lien business is a GOOOD BUSINESS if you work primarily for the interest and penalties. Anything else is gravy on the top.

In you case making $56,000 in 4 years is about $14,000 per year ($6.73 per hour) or minimum wages in most cases. McDonalds at $8.50 per hour is $17,600 per annum.

That $56,000 at 18 percent is $10,080 for the first year of reinvestment. Maybe one hour at the sale. Much better utilization of resources.

Nothing to sneeze at but certainly not enough for a family to live off for a year. In either case in my opinion.

Measure your success in the true terms of success. See your success in terms of cost!

Your post "It all depends on research and how much time" is ABSOLUTELY correct. NOW...ask yourself...how much research and how much did I put in to make $14,000. What is your hourly rate? Could I have done better by spending less time, energy, resources and doing something more productive.? What is that something more productive? Perhaps better marketing the fruits of your tax lien investing.

It is NOT my intention to dissuade anyone or try and keep anyone from TRYING and you are to be commended for trying.

All I have ever said is "DO NOT believe the get rich quick modus operandi." It ain't gonna happen and your post proves it.

Having been in this business for lots of years I can absolutely tell you that the money is in the interest and penalties.....NOT...in the hopes of "Hitting the Jackpot" as the gurus say.

John Beck (Yes, I have met the man) and several others have "Information for Sale"...NONE of them guarantee success. In every case if you get the info and do nothing with it then you are doomed. If, as in your case, you get the info and work with it and apply it you will indeed succeed.

As you travel through this life whatever be your goal...keep your eye upon the doughnut and not upon th hole.

Nothing in the world succeeds like PERSISTENCE. Now that you are off to a good start....STAY the course...and maybe one day you can have an "Apprentice Program" on TV!

GOOOOOOOD LUCK, LOTS more success

Bill H

[Valkman]

You can also see a list of all state,county tax auctions.You can buy a information sheet on each property if you want. You can also learn alot by going through the articles and resource section they have ,check it out at http://www.taxsalelists.com Hope this helps,John

[Bernie (WV)]

The money to be made is in holding the certificaes for the interest and penalties.

I know of a couple in Citrus County FL who, it appears, make a very good living from buying and holding Tax Certificates then redeeming after the two year minimum hold period.

One tax deed sale listed about 70 properties and about 60 of them were certificates being redeemed by the above mentioned couple. Wow!!

[Former MB Member]

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[BRITT REED]

I signed up for his program 3 years ago and I wasn't too crazy about the mentoring program.

[SPIVALAW]

Any work and earned income is honorable.

But it is taxed as earned and higher rates. Almost NO tax deductions available.

Just don't be fooled that flipping houses or tax sales is really investing.
It is a form of a business or a job. Nothing wrong with a job or a business.
We all have to eat and pay our bills.

you don't get the growth and tax benefits of investing (ie like if you Buy, rent and hold)

Here is a tip : buying a diamond for your sweetheart that isn't a financial investment either.

[smidgen]

I agree with Howard, for my situation it is a job nothing more. I also work two other trational jobs out of the home not including tax lien investing. I just find tax lien investing worth my while for the extra money that we have in the spare change box. My viewpoint is to have diversification on my money that is not traditional.

John Beck's info is there but I only use web site notations for research on my own.

My goal is to eventually to invest and hold all the properties that I have deeds on for a long period of time. So that I have a place to retire for my husband and I.

[Dan Auito]

John Beck should have piped up by now? Hopefully he'll mysteriously appear :SM134:

By the way, John is doing some good for the neighborhood through his links here: http://www.johnbeckland.com/deedtemp.html

[Bill H]

Basically John is a good honest hardworking CA attorney. His marketing people however leave a lot to be desired IMHO. You have to remember...they are in the business of selling books, and tapes. etc. NONE of them guarantee success.

You posted:

I live in Minnesota. According to one web site, Minnesota (which offers both tax liens and tax deeds) conducts their sale on the second Monday of May each year.

Sounds a bit unusual for a state to be in both the tax lien and tax deed business...are your sure this is correct?


If I understand correctly, I could attend that sale and bid on a Tax Lien Certificate? And the winning bidder is the one who accepts the lowest interest rate?
If this is the case it is what is referred to as a "Bid Down", state...meaning you will accept less interest in the hopes of getting the property.

This post also mentioned a 2 year minimum holding period.

Sounds fairly normal for tax lien state. If it were a tax deed state then you would get the deed upon being the successful bidder.

Then it goes on to say something about being able to redeem the certificate? Could someone explain more about that process?
Yes, it you purchase the tax lien and I am the defaulting owner...I have the right for the length of the redemption period to come up with the taxes and penalties and interest and regain clear ownership of my property They will not forece me to lose it for the length of the redemption period.

What are the risks with holding Tax Lien Certificates?
The BIGGEST risk is that you do not know (have not done the due diligence) what or where the property is. In this business you can buy swamp land, curnt out crack houses, old excess strips of right-of-way, drainage ditches, ....just about anything that has taxes owed on it is available.

SO,...INVESTIGATE...before...YOU INVEST.

HTH

Good Lukc,
Bill H
I

[smidgen]

I agree with you whole heartedly! People need to do your own homework and don't trust someone's word for it without it being seen with your own eyes.

Look out for yourself because no one else will!

[Former MB Member]

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[Bill H]

Fortunately in this country I know of no state that says you have to be a resident to buy anything.

If you are interested...go to the Iowa State Statutes....start with Iowa Code 2003, Section 446.1446.1 and you will find all the codes for how tax sales are conducted in Iowa.

If memory serves me correctly they pay 24 percent per annum.

Sales I believe are in JUne of each year.

Do your homework NOW and get ready for this year's sale!

[Tim]

Fortunately in this country I know of no state that says you have to be a resident to buy anything.
Missouri requires residency. If you live out of state you have to partner with or hire a local to bid on your behalf.

[haynesm]

By local this means it MUST be a person who lives IN the county where the property is located. Four different county collectors ( the people who sell the tax liens) told me this and was also given paperwork stating such. You can not have a person (missouri resident) who lives in county "A" go to county "B" and buy property for you if you are from out of state. I buy tax liens on a regular basis and last year I was going to buy some for my cousin who lives in michigan and I ran into this problem. I can buy - for myself -anywhere in the state but could not buy for her except in my county of residency. I think I have that problem figured out. Can I say this. If you are from out of state and want me to help you aquire tax liens let me know. Oops, guess I already did say this.

[Tim]

By local this means it MUST be a person who lives IN the county where the property is located. Four different county collectors ( the people who sell the tax liens) told me this and was also given paperwork stating such. You can not have a person (missouri resident) who lives in county "A" go to county "B" and buy property for you if you are from out of state. I buy tax liens on a regular basis and last year I was going to buy some for my cousin who lives in michigan and I ran into this problem. I can buy - for myself -anywhere in the state but could not buy for her except in my county of residency. I think I have that problem figured out. Can I say this. If you are from out of state and want me to help you aquire tax liens let me know. Oops, guess I already did say this.
Yes, that is correct. Scott Davis who writes for us at the Field Guide and knows far more about this stuff than I do has interest in an entity that buys in MO but he does not live there. He has a partner who has ownership interest who manages the entity for him. I am pretty sure it is an LLC. The entity buys and holds the liens. According to Scott, since the entity is a MO resident they buy all over the state. Scott says he uses entities in every state where he buys liens and always partners with someone in that state to do the actual work. It seems to work well for him.

[stallingsorg]

can you honestly say tax lien investing is really a true wealth? i believe three reasons is not.

the real truth about inflation. first, let's read webster's definition of inflation: "inflation is the abnormal increase in available currency and credit, resulting in a rise in price levels." now this definition is fairly accurate except that it does not identify the root problem. second, it increased consumption, and lastly, increased taxes. i truely believe all this man made economic laws has fail.
:SM109:

2008

[smidgen]

Inflation? What does inflation have to do with a compounding interest in a tax lien certificate? It REALLY depends on which state you hold the lien in. In AZ you don't have a long time to hold the certificate unless you want it to. The initial investment can be redeemed within a year. Since the government interest rate is dropping as we speak, this is another way of getting a higher return on your money than you can get at a bank. Inflaton doesn't really play into the factor of investing in debt?

Do you think that you could explain yourself in more detail than what you are stating here? Plus your meaning of "true wealth" ? I feel that my true wealth is the ability to be making passive money with a small investment. Remember not everyone is cut out to be a Landlord.

[SPIVALAW]

Do you think that you could explain yourself in more detail than what you are stating here? Plus your meaning of "true wealth" ? I feel that my true wealth is the ability to be making passive money with a small investment. Remember not everyone is cut out to be a Landlord.

Yes
True wealth is different for each person.
Some want to have freedoms and others want a legacy.

Smidgen, you can own real estate and not be a landlord.

You can have partners who manage, or hire managers, lots of ways.

This is a real estate investment site right?

[stallingsorg]

if you knew the real secret… history of how the federal reserve was created, then you will know which is fact or opinion.

THE CONFUSION OVER MONEY & INFLATION

"all the perplexities, confusion and distress in america arise... from downright ignorance of the nature of coin, credit and circulation."

THE ORIGIN OF MODERN INFLATION

:SM032: "original sin was that eve told adam about central banking, about the notion that you can create value with a stroke of the pen."

INTEREST RATES AND INFLATION

:stupid: "inflation is the one form of taxation that can be imposed without legislation."

THE TOP INFLATION FIGHTERS

tax lien investing surely is not one of them.:frown:

did you know that the root meaning of the word debt is "death?"

good luck finding true wealth!!!:praise:

[Tim]

You know, when I read a post like that about the current Federal Reserve system I know I am reading something from someone who knows little or nothing about it other than the myths they've read on the conspiranoid sites.

There has not been a single bank run that led to economic ruin, even locally, since the Fed came into existence in 1913. And, btw, that is the primary reason it was created. To address the catastrophic results of the 1907 bank run that pushed the economy into a very deep recession, most historians now acknowledge it was really a mild depression.

Even at the start of the depression when there was a run on the banks leading to FDR declaring a bank holiday, no depositors lost their money if they were in Federal Reserve monitored banks. Not one.

Btw, there is no such thing as an inflation fighter. The goal is to have your assets grow faster than inflation in the free economy. That is the only way to long term monetary wealth, no matter how you define it.

Also, if central banking causes inflation how do you explain its existence in our economy before central banking was established? What about the inflation rates in California in the early 1850's? Hmmm?

[Former MB Member]

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[SPIVALAW]

final point.

buy low sell high.

[Tim]

...
Case in point. I want to buy 10 or more acres on which to build a new home. The land may cost $200,000.00 let's say. I could pay cash for that. But, a better plan (knowing what the economy will do) would be to put minimum down on the land and take out a huge loan. Keep in mind, this loan would have a very low interest rate because of what the Feds are doing! Then, let's say a year from now, when interest rates go way up I can invest that $200K and earn a much higher rate of return (interest rate). As long as the interest I earn on the money is higher than the interest I pay on the loan on the property -- then I come out way ahead! I also have the option of paying off the loan at any time.


That might work, until you go to get your construction loan to build on that lot and the lender adds a risk premium to your interest rate because you don't have much equity in the lot.