Hi all, Mr Negative here once more.

To all that are looking at US Tax Liens – I hope that the conference gave the following information as well:

Pitfalls of tax lien investing

• Payment is usually required at purchase or within a very short time afterward (often no more than 24–72 hours). Failure to pay the full amount results in all lien certificates purchased by the investor being cancelled, and may result in the investor losing his/her deposit and/or being barred from future sales.
• In many states, further actions must be taken to protect the lien holder's rights after purchase of a lien. Failure to comply exactly with these requirements may make the lien worthless.
• Tax liens on "choice" properties are quickly purchased by major institutional investors having sufficient time and resources to research valuable properties versus worthless ones, and who can afford the occasional poor choice. Smaller liens often involve properties that are generally worthless (such as odd strips of land). (In addition, Florida does not allow auctions or sales of tax liens of less than $100 on homesteads.) In "random" and "rotational" jurisdictions, investors have even less control over which liens they purchase.
• In "bid down the interest" jurisdictions, valuable properties are usually bid to the lowest rate possible greater than zero percent. (For example, Florida permits the interest rate to be bid down to a minuscule 0.25% – though it guarantees a minimum 5% return – while Arizona allows the bid to be as low as 1%.) Similarly, in "premium" states, valuable properties are bid up above the means of an average investor.
• Unlike a certificate of deposit, tax liens are illiquid. They cannot be "cashed in" (resold to the taxing authority), but must be held until either they are repaid or the holder takes action to foreclose. (It is possible, however, to assign one's interest in a tax lien to another party.)
• Some experts tout tax lien sales as a means of acquiring property at highly discounted prices. In practice, except for very rare instances, liens of any value are redeemed well before the property can be foreclosed (especially where a mortgage is involved; the mortgage holder is secondary in line to a tax lien holder but, upon payment of the lien, the mortgage holder would then become the primary lienholder). Where tax deed sales are used to foreclose, numerous bidders participate, thus making the chances of actual acquisition remote. For example, in one Illinois county with a population of over 500,000, the County Clerk's office said only 3 residential properties were not redeemed in 35 years.
• If someone is successful in attaining the deed to the property, the property might have environmental problems for which the new owner will be responsible. Depending upon the state in which the property is located, this could be very disadvantageous; the investor might have to pay a large amount of money to have the problem taken care of, or might be fined daily until the problems are fixed.[1]
• Deeds obtained are usually quitclaim deeds, which do not provide insurable title. The owner would then have to file a quiet title action to obtain marketable title to the property, which involves additional cost.
• There may also be other governmental liens (such as weed liens or demolition liens) that the investor must pay off when attaining title to the property. These are not part of the lien sale and remain even if the lien holder acquires the property.
• If the owner of the property declares bankruptcy, the bankruptcy court may lower the interest rate to be paid, or may discharge part or all of the lien, leaving the lien holder with nothing.

Just want to make sure that you are fully informed before your 2 day training session.

Oh…, if this was discussed at the conference then I will stop posting any further negative comments about the conference and its educational value.

The reference for the above: http://en.wikipedia.org/wiki/Tax_lien_sale

No DWolfe, the property conference will not stop others from pursuing investment in property. It is that these people will not be using any of the spruikers which had control of this circus. To say there was one or two good speakers in a 3 day event indicates that this was at best- a poorly organised event, at worst a marketing exercise for the spruikers.

Yes, we all have dreams. We all want a certain lifestyle, income and education. These dreams will not be fulfilled by any of these keynote speakers because none of these guys ever had our best interests at heart.

No, I have not attended today.

I was planning to attend some of the talks, but decided I wouldn’t risk another ptich fest from the likes of Aussie Rob. I have seen his DVD previously and am not interested in buying his product.

Obviously, it feels like a waste of money as I may miss some pearls on offer at the conference, but my feeling is that there are few and far between and I can spend my time more effectively elsewhere.

Was Aussie Rob’s wife actually trading live today? Which market? Not even FOREX is open on Saturday Morning.
As where SM found Aussie Rob, I would say that he is part of the “Millionaire” Circuit ( or is it Circus), which includes Meseti, Crutchfield ( who can do everything it seems from her website), Stevens – who is introduced by Meseti on her website.

Shame, had high hopes that this conference would be highly educational.