July 5, 2011

Tax Sale Times Newsletter: July 2011
We are starting a monthly newsletter for our members to share information concerning the tax sale industry as well as what is happening at TSR. We appreciate feedback! If you have information you would like to contribute, please contact us.

Investing 101…

Before attending tax sales, most jurisdictions require pre-registration. There are even many counties and municipalities that require a deposit. These deposits range from hundreds to thousands of dollars or a percentage of your estimated investing amount. There are even certain states such as Kentucky that require you to register with both the county AS WELL AS the state if you plan to buy more than 5 liens statewide or 3 in one county. As part of your investing due diligence, it is extremely important to investigate the state or states where you plan to attend sales and understand the entire registration process.. Using Kentucky as an example once again; If you wanted to purchase a large quantity of liens, you would have needed to register with the state by last May for the sales upcoming in July.

New At TSR…


Extensive Expansion
o If you have been watching TSR closely lately, you will notice that we are quickly expanding into several new states including but certainly not limited to Connecticut, Vermont, Kentucky, Iowa, and Ohio. By the end of September, 2011, we will have 30+ states with full coverage including controlling entity contact information, tax sale specifics and property data integrated tax sale lists. Stay tuned and keep an eye on the progress!
Upcoming upgrades to the New List Delivery System 2.0:
o Direct Downloading – Members will no longer be required to go into the list delivery system to download the data. If all you want is the information in an excel sheet, you will have that option immediately upon accessing the list.
o A More Detailed Full Report – Now you will be able to quickly access a full report including all the data available on each property without having to individually generate them. It will also include the birds-eye view from Bing©.
o Additional Quick Report – This is a new report including critical information, several properties per page as well as a space to keep notes is great for live auctions. It is designed specifically for lien investors who want to print out the entire list and attend auctions with it “in hand”.
o List Filtering Capability – This incredible feature will allow you to quickly filter the lists based on property specifics and narrow down which items meet your criteria for investment. The filter applies to all other list delivery features allowing you to optimize everything available at your fingertips.

Check Out This State…

This Month: District of Columbia
Do not miss out on the tax sale in the District of Columbia from July 18th-July 20th. With over 6300 parcels available, there is ample investing opportunity. DC will hold the tax lien sale at 1101 4th Street, SW in Suite 250. Registration is necessary with the Office of Tax and Revenue including filing a Form FR-500 and including a deposit of at least 20% of potential purchases. For more information visit http://www.taxsaleresources.com/member/sale_data.aspx?auto_id=2420.
Year-Round: Georgia
There are several states that offer sales all year round. Georgia offers Redeemable Deed tax sales each month on the first Tuesday. All sales are live but pre-registration is not required. In most counties, you can register on the day of sale. TSR offers Georgia as a full coverage state with lists available for every county. For more information go to:
http://www.taxsaleresources.com/taxsalelists.aspx?state_id=12.

Industry News…

NEW JERSEY LEGISLATIVE PROPOSAL
In a legislative proposal in New Jersey, tax lien investors could be eliminated from the tax sale process. This proposed legislation would give municipalities the option to adopt a process whereby properties eligible for tax lien would go directly to the municipality; therefore, no sale would take place. Instead, the municipality would acquire the lien, and the homeowner would pay the lien, penalties, and interest directly to the city. If a homeowner did not pay within the two-year redemption period, the municipality could foreclose on that property and gain title to do with as they choose. This is, of course, is very different from the current system. Currently, the city offers a lien sale to potential buyers with a bid down method on the rate of interest return. Homeowners then can pay investors within the two-year redemption period, and if they have not done so by the end of the period, investors may proceed with the foreclosure process. With the proposed system, the municipality would fund the tax receivable with a short-term bond or note. The overall concern for this proposed legislation is the elimination of the tax lien investor and their role in the system. This action is still pending in the State Legislature.

Industry Tools To Check Out…

TAKE CONTROL OF YOUR INVESTMENTS!
As an investor, you already know how important it is to keep control over your money and investments as well as the bonuses of tax free investing. Did you know you can invest in tax liens & deeds tax free? There are many incredible ways that you can invest your money with the control and tax benefits of a retirement account. Equity Trust Company can help you roll over an existing 401(k) into, or setup an entirely new Independent Retirement Account (IRA). The self directed IRA allows you to invest in tax liens & deeds using your existing savings TAX FREE. The Equity Trust Company is hosting an Equity University Networking Conference with successful investors as speakers to help teach about these powerful investing tools. For information about ETC visit http://www.trustetc.com/.

OBTAIN TAX DEED TITLE INSURANCE FASTER & CHEAPER
Do you need title insurance? Tax Title Services (TTS) primary objective is to qualify tax deed properties for title insurance. There is no need for quiet title action. They provide nationally recognized Foreclosure Due Process Certifications and Curative Work. Since they do all of the work “in-house,” they are faster and less expensive than the more common practice of using an attorney. Their partner underwriters will issue insurance based on their curative work package, thus allowing your property to be sold or to obtain a mortgage. They are thorough, fast, and inexpensive. TTS has been in business since July of 2000 and has successfully certified over 11,000 tax deed properties in that time. For more information about TTS, go to http://taxtitleservices.com/.

Things to Remember…

Jefferson, Kentucky holds their tax sale on July 21st, but remember to have your priority bidding list in by July 11th per Kentucky state statutes.
o Other sales include Fayette (7/12), Bullit (7/14), and Grayson and Kenton (7/18) counties.
o All priority bidding lists must be submitted no later than 10 days in advance.
o Kentucky has an interesting bidding system so be sure you understand their rotational, lottery style bidding structure.
o Research ALL upcoming sales in Kentucky at:
http://www.taxsaleresources.com/Jurisdictionspage.aspx?state_id=20

Be sure to check out the tax sale calendar at: http://www.taxsaleresources.com/state.aspx?calendar=1. We have all upcoming sales for July and August from 25 states!

Equity University Networking Conference in New Orleans: September 9-11 at the Sheraton New Orleans. For more information and registration go to: http://www.sdiranetworking.com/

Member Submissions…
We welcome your news submissions, comments, suggestions or helpful tips. Please email us at news@taxsaleresources.com with your thoughts and be sure to include where you are from!