Few people realize that Tax Liens listed on Town’s Financial Budget is not a banking instrument of obligation. Along with those late night buying gold commercials you will find another promise for easy money - buying tax liens. Like buying gold, you can directly purchase tax lien certificates which now are comparable to a stack of gold bullion, but issued by your own municipal government. But unlike the volatile gold market, the tax lien market has a fixed high secure rate that even banks can’t offer. These rates can be 12% and even higher that is set not by the Federal Bank, but by your own local government. Besides getting a guaranteed high rate on your investment, you may also claim ownership of the properties attached to the tax liens you buy at enormous discounts. There is very little risk in investing in tax liens. It is fabulous deal for anyone who has the cash. This is strictly a cold cash transaction. Only the few wealthy have this type of cash lying around. Hopatcong tax sale auctions are one of the best investment vehicles in town, because of their state mandated fixed returns and also secured by real property. Unfortunately, most living in Hopatcong are on the opposite cash end with loans and credit card debts and may even have their own home held in jeopardy of tax lien indebtedness.
Understanding what Tax Liens Certificates are, it becomes clear why the wealthy investor will not buy real estate in Hopatcong at the listed market price. This would be foolish, when investing in Tax liens Certificates almost guarantees a liquidation sale on some prime pieces of real estate. It is just a matter of waiting for the right property to come along and opening up the cash drawer. With Hopatcong faithfully hiking taxes upward each year and the incomes of its homeowners spiraling downward, it is a Town that provides a perfect environment for Tax Lien Certificate opportunities. The added bonus is that Hopatcong isn’t just any town – it is a Tax Lien Town by a Beautiful Lake only 42 miles from New York City. An important fact to know -New York City is the billionaire capital of the world. Hopatcong tax liens are fair game to anyone with cash. What an ideal situation for that Tax Lien Certificate to become a lakefront vacation home very close to an exclusive hunting club. An unsatisfied tax lien by the home owner turns into a really great real estate red tag sale for the smart investor.
Sitting through the informative PowerPoint presentation of our Town Budget presented by Paul Lerch, of Lerch, Vinci & Higgins, many of us got to see some neat pie charts. But, did most of the audience understand the accountant speak regarding that sliver on the pie chart called “Tax Liens”? This piece of the pie has a future impact on the value of Hopatcong property since the probability is this slice will become auctioned property. During this presentation some criticism was given on those folks who sought a tax reassessment to reflect their declining home value and how their tax reduction added to everyone’s increased tax bill. Not discussed were the factors the drove Hopatcong home values to plummet.
It seems the best way to find a great presentation on tax liens and real estate foreclosures is to watch the infomercials on late night TV.
If you had the cash would you invest it in Hopatcong Tax Lien Certificates? Too bad there isn’t a PowerPoint presentation offered at the Senior Center. I’m sure it is a group that would like to know how to get a better rate than what the banks are offering on their retirement investments. Investment tips like this one would truly make this a “Golden” Brunch Club. For now this prime investment instrument has become a hidden real estate secret to the well off in our community.