real estate shit??
 

Was watching this John Beck informercial last nite, the guy was talking about buying govt seized properties of people who didnt pay their taxes..

Here's the guys link, http://www.johnbeck.tv/

Basically he bought all these nice houses madd cheap..

Like a $200,000 house, he just paid of the tax the former owner owed( like $5,000) and the house was all his...


Is this shit true? and where can i get a list of property like that.. hehe real estate doesnt sound too bad..

apparently he has a good program

but alot of ppl do it already


so u gotta be a hustla.

if its preforclosures, get ready to be rejected and yelled at

if its court house auctions get ready to watch true playa's bid, some ppl will fuck up newbies

if its tax liens: dont buy swamp

so not worth it?

depends man.. how good are u with dealing ppl

if ur suave and an unatural salesperson, ull probably do well.

but his stuff doesnt give u everything u need to know

just like making money here, alot of stuff is experience, time and money

u into real estate?

i did preforclosures last summer

chasing ppl...

u make big money if u can convince the person to give up their house..

u work ur way down from there..

it also depends where u are

if its a seller's market, u gotta make sure ur finding some dumb-ass ppl


i never touched tax liens.. everyone here in mtl pays up on time.


i dont do it at all anymore

no one trusts a 21 yr old kid to put u in place


im always willing to give more info, but u gotta give me something in return! :)

if it sounds too good to be true, it probably is. but if you have $ to invest in real estate right now is the time to do it with mortgage rates so low and it being a buyers market.

[QUOTE]Originally posted by beemk
if it sounds too good to be true, it probably is. but if you have $ to invest in real estate right now is the time to do it with mortgage rates so low and it being a buyers market. /QUOTE]


yeah got $ to invest just dont know where/how to start :(

[QUOTE]Originally posted by xxweekxx

Quote:

Originally posted by beemk if it sounds too good to be true, it probably is. but if you have $ to invest in real estate right now is the time to do it with mortgage rates so low and it being a buyers market. /QUOTE] yeah got $ to invest just dont know where/how to start :(

where are u from?

NEW JERSEY / NEW YORK

oie...
i doubt ull find any deals on nyc, nj... i believe they are tax lien certs...


whats ur icq? mine is 1 52179941

don't be so fucking cheap

it's only $60

no one can guarantee you'll make money at anything

And you won't be at the BBQ?!

Worth it, but only during a recession. It's very hard to find a decent foreclosure property right now when the housing market is so hot.

My last big score was 4 years ago, got a waterfront home with 20 000 sq./ft lot, and only 10min. from downtown Montreal at only 112k
If I put it on the market today, it can easily fetch 500k.

Hold on a few months. The NY real estate market has been getting soft and should bottom out shortly. Even though a 1 bedroom can cost $350k plus $1,000 a month in maintenance and taxes it's the best place to buy. Edgewater and Ft. Lee NJ are running a close second.

Montreal was great during the recession. We need another referrendum to kill the economy.

They're called tax liens. You pay the back taxes owed on the property for the owner. If the owner doesn't pay the back taxes and the bank holding the mortgage doesn't pay the taxes (very rare) after a period of time then you can apply to get title, with usually a 2 year redemption period for the original owner to reclaim. If they do pay you get your money back plus the interest rate set by the state you bought it in. Yay. There are many pitfalls to avoid if you pursue this route which I won't bore you with. Not for the inexperienced.

hit me up! 152179941

With an aluminium bat. Done.

Don't get suckered. Those homes are in the South and other marginal areas.

so you can't sell the property to someone else for 2 years?

correct me if im wrong.. but a TLC is like buying a bond but with options

TLC's allow u to be first in line even b4 the mortgage/bank

if they dont pay their TLC, the house is urs. FREE and CLEAR of back taxes and mortgages

if they do pay, u get a higher interest rate on the money..

Sounds easy eh? hehe try it out and see

A friend of mine did the Carlton Sheets thing a few years ago and the fucker made HUGE cash. Had his first house in a month or so and he never looked back. It's not for me but if I was inclined to try an informercial product, that would be the one.

whats a few years? give some numbers

www.buywithnocredit.com

:thumbsup

This would be back in 2000 - 2001. At one point he said he was netting about $10k a month, never asked to see a bank statement. He did pick up a new Lincoln Navigator and a huge fucking house so he must have been doing okay. In fact, he quit his job about 6 months after starting all of this and his job paid about $60k/yr.

Save your 97$, I'm about to reveal the secret...... Co signor

So you say $97 is much ...when you can make thousands in return?.. I think it may be a good bet if you want to do real estate.. but I haven't bought that book.

:2 cents:

+ you get a money back gurantee for 90- days.


:2 cents:

yeah but any kind of info can make u thousands..
its alot of experience, going out there, and learning

if someone showed me all the ropes to making a tgp, i would be happy. but it aint like that now is it.

reveal it ???

I agree chowda :thumbsup

That's right but with some small print. One of those is if the IRS also has a lien against the house, that trumps the TLC and you get fuckall. However, most TLCs are for vacant land, so check to see if its a worthless plot. Those TLCs on property are usually redeemed before they mature. If the owner doesn't pay, the bank holding the mortgage isn't going to let some netwit wipe out their investment for a few k.

true. if there is a big enough mortgage on the property, the bank would be most likely to bid on the TLC as well

Sorry, but you don't know what you are talking about.

It's a seller's market, not a buyer's market. All lower interest rates have done is drive up prices and create a seller's market.

Personally, I'd wait for the real estate market to go back down, which will be inevitable when interest rates rise. Even foreclosures tend to be overpriced these days.

Ditto on this, at least in my area.

when do u guys think it will go down
interest rates wont be high for some time for u guys down in the states...