I don’t know if you’ve heard of Saen Higgins, but basically he’s on an infomercial for his own products. I thought that this guy was a scam; Everytime I looked online for him, people wrote that he was a scam and that he took all their money, etc. I read his book and I realized that no, he’s not a scam and in fact, everything that he says in his book makes complete sense. Let me break it down for you:
1. people don’t pay property tax. I don’t know why, but sometimes people are busy and they forget. Maybe they’re in a terrible financial situation and they just can’t pay off their property tax at that time.
2. YOU pay off their property tax. Depending on the county and the state, there is a redemption period ranging from 6 months to 4 years. This gives the current owner of the property a grace time to pay off their property tax WITH INTEREST which goes directly to YOU. The interest can be up to 25% so imagine how much money you could make depending on the tax lien certificates that you purchase!
3. Since the wait time can be up to four years, don’t expect to get your money right away. Once the redemption period has run out, and the current owner STILL hasn’t paid you back, their home goes into foreclosure and you then have a chance to take their property. Property for how much you paid for the tax lien certificate? Sounds great to me. I’d sell that baby for a lot more, get a lot of profit, and move into a nicer house… OR buy more tax lien certificates for nicer homes and pray to God that they’ll forget about paying me back completely.
4. When a house goes into foreclosure, the bank becomes the new owner and since the bank absolutely does not want to give you a home for about a couple hundred dollars, they will pay you the money that you are owed instead.
See? That wasn’t so bad. It really IS easy money.. you just have to do your research and it takes more time than you want. The thing with infomercials is that people just expect money to magically fall out of thin air once they purchase their packages, which it doesn’t (hence why people call this entire system a scam). It takes a bit more time and the Saen Higgins websitegives you advice and tips to help you not to make mistakes that other people go through when trying to do this on their own.
So.. just to clear up rumors, its not a scam. Its just not instant and like everything else.. nothing comes easy. They just come easier than others.
I, myself, have not done this yet, but joyce has had personal experience with this.. industry.. so check out her blog to see what exactly happened!
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