How To Buy Land at Tax Sales

I just read Lin Stone's delightful and wonderful book on the subject of tax sales. It was very interesting, though somewhat light reading that was also informative. It left me wanting more, but unfortunately that more does not exist. The subject of Tax Sales is given only minimal coverage by most real estate authors. And for good reason, it is a difficult subject where 50 different states have 50 different tax sale laws. Additionally most authors know little or nothing about the subject. Do the liens transfer with the property? What is the period of owner redemption? Tax Sales are probably the most treacherous form of real estate investment. Seller disclosures, consumer protection and other statutory safeguards for the real estate buyer just plain do NOT exist in the tax sale arena. You could end up buying a toxic waste dump, a cliff, a wetland, a tiny sliver of land, a flood plain, a landlocked parcel or even underwater property at tax sales. I've seen all of the above at tax sale. Nobody will tell you about the property shortcomings, only your own research can overcome those obstacles. Most of the tax sale properties are junk; many are worthless or have expensive problems like bad title; you have to distinguish the gems or at least the diamond in the rough. There are only two other books, by Hendricks and Moskowitz, on tax sales that are even worth reading. If you're serious read all three. Lin Stone tells a tale that is easy to read, but is somewhat lacking in depth. Big print and lots of white space make the book seem bigger than it really is. Stone does have chapters on internet and adverse possession that are unique, fun and very interesting. But chapters on Fannie Mae, Hud, VA, etc. are out of place, unnecessary, and filler. The chapters on finding the properties was enlightening. The chapter on buying a house was much to short as Stone concentrates on land. In the back of the book the list of states does not include all 50, obviously a conscious omission by the author. All and all the book was informative, offered insight that only an experience tax sale buyer/author can offer. It would be an excellent choice for beginners, but would probably be too shallow for the experienced tax sale buyer. Also some of the points made are not universal to different state tax sales. As I said earlier it is a difficult subject because of the vast difference of state law. This book is a beginning but by no means assume expertise after reading. Lin Stone's book will help, but be careful out there!

Easy to read, step by step process that leads you to the opportunity to make thousands of dollars if you are willing to put in the few hours it will take to accomplish your goal. If you have ever thought about becoming self employed this is the method and Lin Stone has written the guideline to follow.

I find the book most informative, and it is written with great humor that keeps the reader interested and doesn't "talk down" to anyone. It has more universal appeal because of this. People are always trying to find a way to make money without a huge investment, and this book serves that purpose beautifully. It is less costly than the "make money with real estate" products sold on TV infomercials that air repeatedly. Being in Real Estate myself, I recommend it!

Stone takes you by the hand and shows you step by step how to MAKE MONEY. He routinely answers all logical questions as he explains not only where and how to find land bargains but whom you contact and how you approach them. Stone uses his own experiences to take most of the headaches out of the process for the rest of us. The definitive read for buying land in todays world.