Can you make a profit by buying tax sales real estate properties? Such as John Beck's free and clear?

Question

I have seen several infomercials such as John Beck's system. I would love to have rental properties. It just seems to good to be true. It is something I have been wanting to do for awhile.

Answer 1

In general, yes, you can make a profit. Be aware, however, that reasonably desirable properties do NOT sell for 'cents on the dollar', as advertised. The properties which actually do sell for that tiny amount are worth about that amount.

Before you make any moves to purchase properties, carefully investigate the laws in your state relating to tax lien sales. Depending on your location, if you purchase a $150K property for what seems like a real deal, the title may be encumbered by a mortgage. If your property title carries such liens and your state does not require them to be cleared prior to tax sale, you could end up also buying the mortgage along with the property.

As an aside, don't bother to send any money to Mr. Beck, since the information he provides is readily available for free elsewhere. It just takes some legwork to gather all of it.

Good luck !

Answer 2

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