In the daily herald this week they had a huge section on deliquent taxes. Has anyone ever gotten involved in this type of investment activity? What are the pluses and minuses? With returns on CDs, Bonds and other investments, I was wondering if anyone had any good advice about this opportunity.

(11-06-2009 08:12 PM)klake87 Wrote:  In the daily herald this week they had a huge section on deliquent taxes. Has anyone ever gotten involved in this type of investment activity? What are the pluses and minuses? With returns on CDs, Bonds and other investments, I was wondering if anyone had any good advice about this opportunity.

what exactly are Real Estate Tax Sales?

The county reports deliquent real estate taxes, you pay the taxes on the property and then you have a lien. I am not sure exactly what happens when they pay you get a certain interest rate. At some point you have an interest in the home I think could take ownership of the property for the taxes.

how about REITS? you can get some of the benefits of property ownership (dividends, etc) w/o the hassle of actual property maintenance/headaches

The only reason I would ever get into this would to take possession of a property... and that rarely ever happens.

(11-06-2009 09:36 PM)HuskiemobileMan Wrote:  The only reason I would ever get into this would to take possession of a property... and that rarely ever happens.

But don't you get a high interest rate on your money when you are repaid for the taxes you paid?

It is just another bubble inflating scheme dreamt up by the greedy which will eventually pop. How about making something instead of placing bets upon bets upon bets? How has that worked out for this country?

(11-07-2009 01:48 PM)RobertN Wrote:  It is just another bubble inflating scheme dreamt up by the greedy which will eventually pop. How about making something instead of placing bets upon bets upon bets? How has that worked out for this country?

As usual, nothing to add to any discussion.

(11-07-2009 01:49 PM)klake87 Wrote:  

(11-07-2009 01:48 PM)RobertN Wrote:  It is just another bubble inflating scheme dreamt up by the greedy which will eventually pop. How about making something instead of placing bets upon bets upon bets? How has that worked out for this country?

As usual, nothing to add to any discussion.

Really? Did you even read my post? It tells you EVERYTHING you need to know about these "investments"(ie. bets). THis is just betting. Nothing more nothing less. Gambling is NOT the best way to support an economy but that is exactly what this economy is based on and it is failing. Which is why the Republicans are flailing and falling apart. Their gambling economy does NOTHING for the country except enrich a select few greedy bastards and plunge a number of middle class into the poor house.

(11-07-2009 02:26 PM)RobertN Wrote:  

(11-07-2009 01:49 PM)klake87 Wrote:  

(11-07-2009 01:48 PM)RobertN Wrote:  It is just another bubble inflating scheme dreamt up by the greedy which will eventually pop. How about making something instead of placing bets upon bets upon bets? How has that worked out for this country?

As usual, nothing to add to any discussion.

Really? Did you even read my post? It tells you EVERYTHING you need to know about these "investments"(ie. bets). THis is just betting. Nothing more nothing less. Gambling is NOT the best way to support an economy but that is exactly what this economy is based on and it is failing. Which is why the Republicans are flailing and falling apart. Their gambling economy does NOTHING for the country except enrich a select few greedy bastards and plunge a number of middle class into the poor house.

"investment" has been a part of society whether american or european for hundreds of years. either you learn to use the system to your advantage or you get left behind

(11-07-2009 02:49 PM)huskiealum03 Wrote:  

(11-07-2009 02:26 PM)RobertN Wrote:  

(11-07-2009 01:49 PM)klake87 Wrote:  

(11-07-2009 01:48 PM)RobertN Wrote:  It is just another bubble inflating scheme dreamt up by the greedy which will eventually pop. How about making something instead of placing bets upon bets upon bets? How has that worked out for this country?

As usual, nothing to add to any discussion.

Really? Did you even read my post? It tells you EVERYTHING you need to know about these "investments"(ie. bets). THis is just betting. Nothing more nothing less. Gambling is NOT the best way to support an economy but that is exactly what this economy is based on and it is failing. Which is why the Republicans are flailing and falling apart. Their gambling economy does NOTHING for the country except enrich a select few greedy bastards and plunge a number of middle class into the poor house.

"investment" has been a part of society whether american or european for hundreds of years. either you learn to use the system to your advantage or you get left behind

Robert just relies on government handouts.

(11-07-2009 03:09 PM)HuskiemobileMan Wrote:  

(11-07-2009 02:49 PM)huskiealum03 Wrote:  

(11-07-2009 02:26 PM)RobertN Wrote:  

(11-07-2009 01:49 PM)klake87 Wrote:  

(11-07-2009 01:48 PM)RobertN Wrote:  It is just another bubble inflating scheme dreamt up by the greedy which will eventually pop. How about making something instead of placing bets upon bets upon bets? How has that worked out for this country?

As usual, nothing to add to any discussion.

Really? Did you even read my post? It tells you EVERYTHING you need to know about these "investments"(ie. bets). THis is just betting. Nothing more nothing less. Gambling is NOT the best way to support an economy but that is exactly what this economy is based on and it is failing. Which is why the Republicans are flailing and falling apart. Their gambling economy does NOTHING for the country except enrich a select few greedy bastards and plunge a number of middle class into the poor house.

"investment" has been a part of society whether american or european for hundreds of years. either you learn to use the system to your advantage or you get left behind

Robert just relies on government handouts.

Reoublicans rely on greed and unethical behavior.

(11-07-2009 02:26 PM)RobertN Wrote:  

(11-07-2009 01:49 PM)klake87 Wrote:  

(11-07-2009 01:48 PM)RobertN Wrote:  It is just another bubble inflating scheme dreamt up by the greedy which will eventually pop. How about making something instead of placing bets upon bets upon bets? How has that worked out for this country?

As usual, nothing to add to any discussion.

Really? Did you even read my post? It tells you EVERYTHING you need to know about these "investments"(ie. bets). THis is just betting. Nothing more nothing less. Gambling is NOT the best way to support an economy but that is exactly what this economy is based on and it is failing. Which is why the Republicans are flailing and falling apart. Their gambling economy does NOTHING for the country except enrich a select few greedy bastards and plunge a number of middle class into the poor house.

So how do they work Mr. Investment expert.

(11-07-2009 05:53 PM)klake87 Wrote:  

(11-07-2009 02:26 PM)RobertN Wrote:  

(11-07-2009 01:49 PM)klake87 Wrote:  

(11-07-2009 01:48 PM)RobertN Wrote:  It is just another bubble inflating scheme dreamt up by the greedy which will eventually pop. How about making something instead of placing bets upon bets upon bets? How has that worked out for this country?

As usual, nothing to add to any discussion.

Really? Did you even read my post? It tells you EVERYTHING you need to know about these "investments"(ie. bets). THis is just betting. Nothing more nothing less. Gambling is NOT the best way to support an economy but that is exactly what this economy is based on and it is failing. Which is why the Republicans are flailing and falling apart. Their gambling economy does NOTHING for the country except enrich a select few greedy bastards and plunge a number of middle class into the poor house.

So how do they work Mr. Investment expert.

You are betting on the bet of another. Then when the person is unable to pay a few hundred in taxes you acquire a house worth considerably more that the few hundred you paid. Basically, preying on the poor or unlucky. To me, that is unethical. But as I said, greed unethical behavior is the Republican trait.

(11-08-2009 01:30 PM)RobertN Wrote:  

(11-07-2009 05:53 PM)klake87 Wrote:  

(11-07-2009 02:26 PM)RobertN Wrote:  

(11-07-2009 01:49 PM)klake87 Wrote:  

(11-07-2009 01:48 PM)RobertN Wrote:  It is just another bubble inflating scheme dreamt up by the greedy which will eventually pop. How about making something instead of placing bets upon bets upon bets? How has that worked out for this country?

As usual, nothing to add to any discussion.

Really? Did you even read my post? It tells you EVERYTHING you need to know about these "investments"(ie. bets). THis is just betting. Nothing more nothing less. Gambling is NOT the best way to support an economy but that is exactly what this economy is based on and it is failing. Which is why the Republicans are flailing and falling apart. Their gambling economy does NOTHING for the country except enrich a select few greedy bastards and plunge a number of middle class into the poor house.

So how do they work Mr. Investment expert.

You are betting on the bet of another. Then when the person is unable to pay a few hundred in taxes you acquire a house worth considerably more that the few hundred you paid. Basically, preying on the poor or unlucky. To me, that is unethical. But as I said, greed unethical behavior is the Republican trait.

this is absolutely NOT preying on the poor or unlucky. the so called poor or unlucky is likely to lose the house either way because they were unable to meet their end of the deal. klake would be CREATING an opportunity for himself

(11-08-2009 01:30 PM)RobertN Wrote:  

(11-07-2009 05:53 PM)klake87 Wrote:  

(11-07-2009 02:26 PM)RobertN Wrote:  

(11-07-2009 01:49 PM)klake87 Wrote:  

(11-07-2009 01:48 PM)RobertN Wrote:  It is just another bubble inflating scheme dreamt up by the greedy which will eventually pop. How about making something instead of placing bets upon bets upon bets? How has that worked out for this country?

As usual, nothing to add to any discussion.

Really? Did you even read my post? It tells you EVERYTHING you need to know about these "investments"(ie. bets). THis is just betting. Nothing more nothing less. Gambling is NOT the best way to support an economy but that is exactly what this economy is based on and it is failing. Which is why the Republicans are flailing and falling apart. Their gambling economy does NOTHING for the country except enrich a select few greedy bastards and plunge a number of middle class into the poor house.

So how do they work Mr. Investment expert.

You are betting on the bet of another. Then when the person is unable to pay a few hundred in taxes you acquire a house worth considerably more that the few hundred you paid. Basically, preying on the poor or unlucky. To me, that is unethical. But as I said, greed unethical behavior is the Republican trait.

Good thing I am a libertarian. People should take personal responsibility and not buy properties that they can not afford. But again, what have you added to the discussion. ZERO as usual.

I hate to say it, but the way you accumulate wealth is to obtain it from the less fortunate. Think about it. You own a business, need to hire people, you have people as little as possible to obtain the desired results. I am a landlord and I make my money off people who can't afford to own their own house/apartment. The thing is that if you don't take advantage of opportunities, someone else will.

(11-08-2009 01:50 PM)HuskiemobileMan Wrote:  I hate to say it, but the way you accumulate wealth is to obtain it from the less fortunate. Think about it. You own a business, need to hire people, you have people as little as possible to obtain the desired results. I am a landlord and I make my money off people who can't afford to own their own house/apartment. The thing is that if you don't take advantage of opportunities, someone else will.

Do you know how the process works?

(11-08-2009 01:50 PM)HuskiemobileMan Wrote:  I hate to say it, but the way you accumulate wealth is to obtain it from the less fortunate. Think about it. You own a business, need to hire people, you have people as little as possible to obtain the desired results. I am a landlord and I make my money off people who can't afford to own their own house/apartment. The thing is that if you don't take advantage of opportunities, someone else will.

Hey are you calling me poor?

----------------
Listening to: 311 - I'll Be here a while
via FoxyTunes

(11-08-2009 03:39 PM)BleedsHuskieRed Wrote:  

(11-08-2009 01:50 PM)HuskiemobileMan Wrote:  I hate to say it, but the way you accumulate wealth is to obtain it from the less fortunate. Think about it. You own a business, need to hire people, you have people as little as possible to obtain the desired results. I am a landlord and I make my money off people who can't afford to own their own house/apartment. The thing is that if you don't take advantage of opportunities, someone else will.

Hey are you calling me poor?

As a recent college grad, yes. Sh!t, I was lucky enough to live at dear old mom's house for free several years after college.

(11-08-2009 01:57 PM)klake87 Wrote:  

(11-08-2009 01:50 PM)HuskiemobileMan Wrote:  I hate to say it, but the way you accumulate wealth is to obtain it from the less fortunate. Think about it. You own a business, need to hire people, you have people as little as possible to obtain the desired results. I am a landlord and I make my money off people who can't afford to own their own house/apartment. The thing is that if you don't take advantage of opportunities, someone else will.

Do you know how the process works?

What process?

(11-10-2009 09:10 AM)HuskiemobileMan Wrote:  

(11-08-2009 01:57 PM)klake87 Wrote:  

(11-08-2009 01:50 PM)HuskiemobileMan Wrote:  I hate to say it, but the way you accumulate wealth is to obtain it from the less fortunate. Think about it. You own a business, need to hire people, you have people as little as possible to obtain the desired results. I am a landlord and I make my money off people who can't afford to own their own house/apartment. The thing is that if you don't take advantage of opportunities, someone else will.

Do you know how the process works?

What process?

I find a property. I pay the taxes that are due then what?? Does it take years to finalize? The owner pays the taxes and I get my money back, what is my interest rate? The owner does not pay the taxes, how do I take possession of the property?

(11-10-2009 09:19 AM)klake87 Wrote:  

(11-10-2009 09:10 AM)HuskiemobileMan Wrote:  

(11-08-2009 01:57 PM)klake87 Wrote:  

(11-08-2009 01:50 PM)HuskiemobileMan Wrote:  I hate to say it, but the way you accumulate wealth is to obtain it from the less fortunate. Think about it. You own a business, need to hire people, you have people as little as possible to obtain the desired results. I am a landlord and I make my money off people who can't afford to own their own house/apartment. The thing is that if you don't take advantage of opportunities, someone else will.

Do you know how the process works?

What process?

I find a property. I pay the taxes that are due then what?? Does it take years to finalize? The owner pays the taxes and I get my money back, what is my interest rate? The owner does not pay the taxes, how do I take possession of the property?

http://www.cookcountytreasurer.com/payme...opicid=254

I am not sure at what point you would take posession of the property, but that usually does not happen. If you do, just realize you would most likely take posession of all leins on the property as well. The same thing goes for a sheriff sale. You need to research the properties at the recorders office I believe.

More info:

http://www.tax-lien-certificates.com/tax...is_il.html

Interest Rate

36% for full year, on farm land 24%

Redemption Period

2 years

(11-10-2009 09:53 AM)HuskiemobileMan Wrote:  More info:

http://www.tax-lien-certificates.com/tax...is_il.html

Interest Rate

36% for full year, on farm land 24%

Redemption Period

2 years

36% nice interest rate. There was a ton of properties in DuPage County. It is better than a two year CD.

Just like to know where you are in the secured creditor list. I assume that the property has a mortgage and would not sell for the Mortgage, Taxes and other liens. Can you lose principle if the property sells for significantly below the total value of all liens?