| Links of Interest | | If you have some unexpected homefees, find payday loans online to help you through tough times. |
|
|
|
The 16% Solution: How to Get High Interest Rates in a Low-Interest World with Tax Lien Certificates, Revised Edition |  | Author: J.D., Joel S. Moskowitz
Publisher: Andrews McMeel Publishing
Category: Book
List Price: $24.99
Buy New: $15.55
as of 7/30/2010 06:40 CDT details
You Save: $9.44 (38%)
New (16) Used (9) from $15.55
Seller: red_barn_books
Rating:  63 reviews
Sales Rank: 10727
Media: Hardcover
Edition: 2 Rev Upd
Pages: 184
Number Of Items: 1
Shipping Weight (lbs): 1.1
Dimensions (in): 9.1 x 7.2 x 0.9
ISBN: 0740769626
Dewey Decimal Number: 332.6324
EAN: 9780740769627
ASIN: 0740769626
Publication Date: March 17, 2009
Availability: Usually ships in 1-2 business days
| |
| Also Available In:
|
| Similar Items:
| |
| Editorial Reviews:
Product Description
This revised edition is arriving just in time to inform investors how to take advantage of today's slumping U.S. economy. With home foreclosures at an all-time high and the erratic stock market damaging 401(k) accounts, people are looking for innovative ways to invest their money.Moskowitz explains what tax lien certificates are (liens against property for unpaid taxes), why they are safe (certain states insure them), and how they fit into an overall financial plan. This new edition includes updates to the laws and procedures of states and counties that offer tax lien certificates. * The 16% Solution has been updated to reflect current legal requirements and information. * Seen as a great investment solution: "If you become a buyer of tax liens, we recommend reading The 16% Solution by Joel Moskowitz. It's a worthwhile investment." --Ken and Daria Dolan, Straight Talk on Your Money.
|
| Customer Reviews:
Showing reviews 1-5 of 63
 16% Solution is 85% right on! June 5, 2010
Chris Sunderland (Southern California)
I am only half way through this book, but it has been extremely helpful thus far. The author is walking me through the process of reviewing and purchasing tax liens in various states. Holding tax certificates will be a valuable part of my investment portfolio.
 Good condition March 18, 2010
C. Egan (Hertfordshire, UK)
0 out of 1 found this review helpful
Quick delivery from the US to UK - book in good condition for second hand - thanks ++
 I would not buy this book... November 21, 2009
Jim Gatz (New York, NY United States)
0 out of 1 found this review helpful
Serious investors in tax liens should not buy this book. The first half of the book is basically wasted space on why tax liens are better than stocks and bonds...the information is wrong and in some cases just plain silly. People who read this book want to know about tax liens, and presumably can get their stock and bond investment advice from a professional in that area. Second, this book paints a highly unrealistic view of how much can be earned from investing in tax liens. At best, this book will serve as an introduction to the basics of tax lien investing, but I'm sure there are better ways to get that information.
good basic training manual November 1, 2009
B. Fleming (Washington, DC)
Very good for folks new to tax liens. All the basics and some good resource lists, too.
Your Local Savings Account Isn't Working!!! October 1, 2009
Trevor J. Flannigan
2 out of 4 found this review helpful
This book is one that I have wanted to read for some time and found it at Barnes and Noble last week, it's called The 16% Solution by Joel S. Moskowitz. It is all about getting high interest rates (averaging nationally at 16%) by investing in tax lien certificates. It is a whole lot more fun than it sounds, trust me.
A tax lien is when a person doesn't pay their property tax. Some states have taken those tax liens and have started to sell them to private investors. If someone doesn't pay their taxes there is big penalty of 8%-30% added on to what they owe. When governments opened these up to private investors they come with the penalty percentage too. So if an investor buys up base amount of the tax lien, and all the penalty will be their return. These states have basically created a win-win situation. They need their tax money so they can provide services and fix the roads and investors want a big return on their investments.
Moskowitz explains that we live in a low interest world and it's very true. I just opened up an account with a new bank the other day and asked my banker, out of curiosity, what they were offering on savings accounts. He told me they were offering a third of a percent. Whoa! That is incredibly low. Now, I know a lot of people are going to through this idea out because they think its too "risky." The truth is, it's really not. This is a tax lien put on by the government... have you ever known the government not to get what is owed to them? Well that same security of payment is transferred to you when you buy this certificate.
And then the second argument... What if the defaulter decides not to pay? Well if they actually do decide not to pay... you get the property in most states. Which is an incredible deal. Property taxes are at most 5% of the value of the property, if they don't pay you get the whole thing. That is a huge return on investment! Which is why most people pay off the tax lien to begin with, they don't want to lose their property. But on your end, you have to make sure the property is something they will want to keep.
Moskowitz advises everyone to do their due diligence. Don't just go into the tax lien auction buying up everything because you could get burned in the short run. He gave a couple of examples of people getting burned that really stuck with me. In the first example he said someone bought up old industrial tax lien property. Well in that case the defaulter didn't pay the lien and the individual ended up with the property. And then found out that the property was polluted and needed to have industrial cleaning done to it, which meant thousands of dollars in cleanup fees he was obligated to pay. The second example was from a person who bought up a bunch of liens and again ended up with the property to find out it was zoned as open space and it was in the middle of nowhere. Good luck on the reselling of that land. This is why you have to do your research, become friends with the county clerk (they will know what is a good area/ bad area) and actually go to the property you intend on buying the lien certificate for. All it takes in most cases is a drive by to confirm it's a decent piece of land. Moskowitz recommends residential properties because they are the safest way to ensure someone will pay the lien and if they don't you have a house, which is easy to resell.
A lot of my readers are from Missouri, so I will mention that Missouri does have tax lien certificates for sale in 114 counties with a 10% return. If it's in your county, you already know the area so you are way ahead of the game. And making 10% on your investment sure beats that 1/3% your local savings account is providing.
There is a lot of "how-to" in this book, way more for me to cover in this blog. But I definitely recommend it. I read the whole book the night I bought it because it was written so well and it got me really excited to try it out. There are tax liens of every size/ amount, so you can go to an tax lien auction and leave with at least one... and it's definitely worth a try in my opinion. It is a lot more fun than mutual fund investing because you have the carrot of potentially getting property out of the deal. If you have any questions on the book don't hesitate to ask. I would be more than happy to help anyone that needs it.
[...]
Showing reviews 1-5 of 63
|
|
|
CERTAIN CONTENT THAT APPEARS ON THIS SITE COMES FROM AMAZON SERVICES LLC. THIS CONTENT IS PROVIDED ‘AS IS’ AND IS SUBJECT TO CHANGE OR REMOVAL AT ANY TIME.
Real Estate | |
