Secure Da Bag
Veteran
Never heard of JJ Conway, but this seemed interesting. Real estate talk.
Flip $2500 to $2.5M?
- Thread starter Secure Da Bag
- Start date
She has her own channel. Unfortunately the subs are very low. But that was almost to be expected.
She's legit:
She's legit:
Last edited:
The TL DR - These things are real. The chances of Regular Ray Ray getting a tax property for pennies on the dollar, or buying a juicy tax lien - are very very small.
You can go down to your county and watch the sales at least once a month. (I know cause I used to go to these things in the 00's, After you watch a couple dozen or so of these things you'll see what I saw. You can bring your calculator and see how hard it is to make any type of money)
When you get there, you'll see a 100-300 people trying to buy properties for pennies on the dollar, and retail investors bidding well past the profit #.
Would be flippers will spend way more than the property is worth, just to get into the game. That happens a lot more than the people pushing these programs will tell you. "I'm only down 50k!"
With the liens/certs, it's Wall Street Money chasing these returns. They will easily bid something to 2-4% returns, because they got a giant pool of money - that most retail investors (or local RE investment groups) don't have and would not make any sense for them to buy something making 2.3% (the effective rate of the money)
If you're in a decent metro area - outside of a major city - this is a very difficult way to make money.
Is it possible to come up on something? Sure.
Is it likely to get a good deal? No. It's not.
If you're in the sticks, the boondocks, rural areas 3+ hours away from the city, you can find these tax sales and tax liens - but the property will be out in the damn country. Oftentimes, you'll have to cross other people's land to get to the plot that you "got for a steal". There's a reason that these things are cheap - nobody wants them. (and it's usually a money pit to get them into some sort of economic shape)
In terms of the grift, Tax Liens/Tax Deeds is a very common Real Estate Program that people get suckered into (right up there with "no money down").
It's not that there's anything wrong with it, it's just ridiculously high levels of competition to come up on anything profitable.
You can go down to your county and watch the sales at least once a month. (I know cause I used to go to these things in the 00's, After you watch a couple dozen or so of these things you'll see what I saw. You can bring your calculator and see how hard it is to make any type of money)
When you get there, you'll see a 100-300 people trying to buy properties for pennies on the dollar, and retail investors bidding well past the profit #.
Would be flippers will spend way more than the property is worth, just to get into the game. That happens a lot more than the people pushing these programs will tell you. "I'm only down 50k!"
With the liens/certs, it's Wall Street Money chasing these returns. They will easily bid something to 2-4% returns, because they got a giant pool of money - that most retail investors (or local RE investment groups) don't have and would not make any sense for them to buy something making 2.3% (the effective rate of the money)
If you're in a decent metro area - outside of a major city - this is a very difficult way to make money.
Is it possible to come up on something? Sure.
Is it likely to get a good deal? No. It's not.
If you're in the sticks, the boondocks, rural areas 3+ hours away from the city, you can find these tax sales and tax liens - but the property will be out in the damn country. Oftentimes, you'll have to cross other people's land to get to the plot that you "got for a steal". There's a reason that these things are cheap - nobody wants them. (and it's usually a money pit to get them into some sort of economic shape)
In terms of the grift, Tax Liens/Tax Deeds is a very common Real Estate Program that people get suckered into (right up there with "no money down").
It's not that there's anything wrong with it, it's just ridiculously high levels of competition to come up on anything profitable.
