Have you ever wondered what would happen to your property if you didn't pay your taxes? Most people envision the police eventually knocking at the door and throwing you out. The reality in Texas at least is that the knock will eventually come, but it will be an investor knocking, an investor like today's guest, Arnie Abramson.
Arnie has been investing in Texas tax auctions since the early 1990s. With a very long track record of success, he leads the Texas Tax Sales Resource Group, which is comprised of individual investors that have been investing in income producing real estate in Texas for many years. The Group helps members find, bid on, purchase, and own properties that go to public auction in all 254 counties in Texas.
The law in Texas is very favorable to investors in these properties. The winning bidder at the auction is immediately awarded ownership and possession of the property. The ONLY right the previous owner retains is the right to "redeem" the property, a process by which the investor is rewarded with a 25% to 50% profit on his/her investment. If you are or want to be a real estate investor, you should listen to this episode twice!
In addition to investing in tax auctions in Texas, Arnie makes available to his priority members investment in certain tax liens outside of the Lone Star State, through the Lien-to-Deed program, the details of which he also shares in this episode.
Karen and Kevin are both Priority Members in the program, and as Karen says in the episode, just having the knowledge and education that Arnie provides gives us the confidence to go and bid at the auctions, which to the uninitiated are intimidating and confusing. If you decide to become a Priority Member too, we've worked out a discount with Arnie if you call by Monday, March 13!
If you'd like to ask Arnie a question directly, please feel free to reach out to him at arnie@txtaxsales.com.