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Old 03-28-2007, 09:28 PM
 
1 posts, read 5,481 times
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IVE RECENTLY FOUND AN INTEREST IN TAX DEED (LIEN) SALES IN CHICAGO AND SURROUNDING COUNTIES. I LOOKED THRU THE INTERNET, ONLY TO BE MORE CONFUSED. I WANT TO KNOW HOW TO GET MORE BANG FOR THE BUCK AND WHAT TO LOOK OUT FOR. THERE ARE A MILLION PEOPLE CLAIMING TO HAVE THE "INSIDE TRACK", FOR AN OUTRAGEOUS FEE, AND IM JUST PROBING FOR SOLID INFO TO GET STARTED. LIKE WHERE TO LOOK, HOW TO APPLY, WHAT SHOULD I EXCEPT, AND WHAT WILL BE THE RETURN? ALL COMMENTS ARE WELCOME.
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Old 03-29-2007, 01:08 PM
 
1,075 posts, read 3,247,498 times
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Are you talking actual sale of a home due to back taxes owed or buying into back taxes not the actual home, i was going to do some tax buys but got sidetracked onto something else.

If it's back tax buys those can produce some fair returns on the right ones but i think there like a few other things that the big boys have there hands in on and the lil guy gets the left over scraps which are junk.

If it's buying up back tax home auctions i would steer clear of those, with all the subprime failures going on it may be a good time to gobble up a few homes in that area if a guy finds the right ones, but what is owed the lender on the property which i've heard most are more than the present home value then plug in the market present with possible downward trend now sure ain't the time to be playing in the housing market.

Those million people inside track is comparable to the amusing late nite infomercials on i made a million dollars selling on e bay & i make 5,000-10,000 a month selling this amazing product & we can let you in on the secret to our success for just 99.95 lol.

If you want to dabble in real estate look into other aspects of it, reuits used to be hot maybe some day they will look more favorable, gov backed mortgage buy certificates fannie mae & such were safe investments, not a big return but an income source, you may want more liquid investments that you could possibly dump if need be, you buy into a house then the market goes sour you surely won't be able to unload that investment.

Building materials, lumber, cement, home depots, lowes, etc, are housing related there tied into new home sales, if new home sales reports are favorable they may be an idea but i'm looking for a big drop in those reports, with all the mortage defaults going on & looking worse then if the fed raises rates, housing sales are going to fall on there face, people are going to hold their homes & then your going to see more home remodeling come into the picture which naturally is tied to building products.

Your looking for more bang for the buck, in that reasoning you better be able to withstand losses since you will be taking on a lot more risk when you go looking for more return so bigger doesn't necessarily mean better.

The overall economy of which the fed says is doing good, well I say hog wash, the economic indicators may say so but the gov has a way of making those look favorable at times & with the new fed in place & greenspan gone this new fella isn’t really time tested yet, now plug in the iran & iraq issues things are not looking good, lotta nervous investors out there & it isn’t going to take but just one lil thing to see drastic changes in all the markets.
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