Larry B. Loftis
1 Best book out there on investing in Tax Liens
Larry Loftis' book "Profit by investing in real estate" is a better buy as it goes into the step by step process of how to do it. It covers ALL the states while the "16% book" covers only those states the author selected. The Loftis book is written in 2005. He has an Appendix with over 25 examples of PreAuction rules which give one a flavor of what to ask the County when you call. I have written a 6 page summation of this excellant Loftis book and it is available at Howeeey@yahoo.com by e-mailing me a request.
Commenting on the "16% Solution", this book is written like a poor "novel" instead of a 'How to' book. Not only that, it is a dated book-written in 1994 when the RTC was still around as well as the Love Canal. It doesn't go into the steps of how to actually do it like Loftis' book does. Don't waste your money on the "16% Solution"!
Another thing, don't fall for those $2000 seminars. The Loftis book far exceeds anything that you would find there. Good Luck
2 I gladly paid library overdue fees to keep it for extra days
I don't normally do that but since my home library (Elmhurst, IL) had to order my copy from another in the suburban library system, I kept it.
I typed up my notes but gave up since there was so much info to digest. That says a lot about this book's content.
I have only one minor complaint. It's about the quality of the photographs in the book. They're all fuzzy, contrast is bad, and the overall clarity is poor.
The content was very useful however.
I'm buying a copy. This belongs in my real estate library.
3 This is a must read!! FGF
This is a great book. The author walks you through the process from start to finish on how to do tax lien real estate investing. By the time that I was finished reading the book, I was motivated and ready to go!! I am excited about my first tax lien purchase opportunity that I will do myself. Great book.
4 Best on Subject so Far!!!
I've been a realtor for over a year and it amazes me how many realtors don't know about this or care. This one is the best book on the subject of Tax Liens to date that I have read. Read 16% Solution a while ago, not bad just outdated, but this book gives details. Even sat in on a few tax lien seminars, be very careful of these. If you are serious about getting good information and a good start without the bull on tax lien investing, put you money here. I did.
5 Excellent Book For Potential Investors
I don't think many people know about this alternative to investing in the volatile stock market. I didn't. Mr. Loftis' book is written for those of us who need an introduction to this area of investing. However, he doesn't stop with the introduction. The book provides a step-by-step guide to investing in real estate tax liens. He also gives an "insiders" view of the investment process, including finding the right property and bidding at the auction. He uses his own experience to show you what you need to do, and what you should avoid. The book includes numerous real life examples, forms and documents. A great book (and highly recommended) for those interested in discovering a new way to invest.
6 Florida tax lien investor
The last reviewer (M. Reeder "quiddam") must not know how to read. Mr. Loftis mentions in the book that most counties will pull liens under $100 from the auction (they're usually worthless). And anyone who has actually invested in Florida knows that there will be few, if any, liens left after an auction. If there are, yes, you can buy them OTC but they will be on ditches. And as for Texas, Mr. Loftis includes in his book actual photocopies of statements from the counties (and law firms for the counties) verifying the 6 month redemption on non-homestead, non-ag properties. Perhaps M. Reeder didn't read at all. Excellent book, with the accuracy of a lawyer.
7 Good but has errors
In general an excellent book, but has some errors. Being from FL he should know that one can purchase liens OTC (at least some county websites mention it, most notably Hillsborough--Tampa area and Brevard--Canaveral area), and he doesn't mention FL's other weird quirk (homestead liens <$100 cannot be purchased). Also has error on AR redemption period (2 years) and TX (period for non-ag and non-homestead is 180 days not 6 months).
8 A Must Read for those interested in tax liens!!
A great book that discusses the many faces of the world of tax lien investing. The book walks you through the process. Most importantly to me, it leads me to believe that even a novice like me can and will be successful. A MUST READ!!
9 An Insightful Guide to Tax Deeds and Lien Certificates
This is a wonderful book, full of practical advice and insights by someone who's obviously very experienced and enjoys this type of investing. Mr. Loftis shares his knowledge about where the best investing opportunities are as well as bidding tips and strategies for "live" auctions, and explains how internet auctions work as well. The samples of lien lists, certificates, and tax deeds are very helpful. The chapter which gives a state-by-state summary of auction dates, interest rates, relevant statutes, etc., is invaluable.
10 The Devil is in the Details.
Tax Liens are an interesting form of investment. Basically the city or county (usually)charges property taxes on every identifiable piece of property in their jurisdiction. Sometimes the property holder is late in paying his taxes. The city or county then puts a lien on the property. They may, however, need their money now (the police department payroll needs paying or something like that). So they sell the lien at a discount (charging penalties to make up the discount amount). When the taxes are paid the lien is bought back at face value. Simple.
Of course the devil is in the details. And the book is on the details. What's the difference, for instance in a tax lien state and a tax deed state? What are the risks and how do you avoid them? What are the details of the bidding process? Mr. Loftis is an attorney with many years of experience investing in tax delinquent properties. In this book he discusses the concepts and his experience.
