Powerful Message


Here is what this reader recently shared.

“Gary, A few years back I went to quite a few of your seminars, and I came to Ecuador with you and Merri with my wife.

You very kindly sent me a copy of your "World Reports" recently, wherein you commented on borrowing money between 1% and 2%, and investing it at 8%, I presume in North Carolina tax deeds or liens. I just attended an auction (two days ago) where I picked up the tax deed for 32.31 acres north of Macon on Highway 16 about 5 miles from the I-75 interchange. I checked with the Department of Transportation. Plans are to four lane 16, but they will give me access (I will have to build a deceleration lane) to the highway. I should add that this property has a huge amount of frontage on 16. I paid $60,000 at the deed auction, the property is worth $168,000 on the tax commissioner's computer, and much more than that with highway access. If you are going to make money on a 6+% spread, I am wondering why you don't do it in Georgia, where you get 20%, or Iowa (I think 24%) or Texas (25%), or even Baltimore (24%). Michigan is quite high also. My partner in crime is Robert Schumacher, who lives in Macon. He lectures all over the U.S. and Canada on Georgia tax deeds. You can contact him, and get a copy of his free e-letter at bobschumacher@cox.net. I also occasionally guest column. Bob gives an excellent Power Point presentation and lecture, should you ever wish him to speak at one of your conferences. By the way, thanks for the tremendous education I got at your conferences, it was the beginning of everything.

P.S. Can you give details on the low rate of interest for borrowing in a foreign currency? Is it through Jyske Bank? I am about ready also to try the multicurrency sandwich, especially with the Fed so determined to drive our currency into the ground. Oh, also, on your far distant real estate advice, I bought a place in France two years ago. I like watching the Euro appreciate, but I still hate seeing the dollar going to the dogs. As a final note, I rarely get a redemption at 20%. Usually the situation was a divorce where both the man and the woman walked, or someone older dies, and no one even knows who the proper heirs are as they are usually 20+ people. That is why I always write that the tax deed business gives a return of anywhere from 20% to several thousand % on invested capital. Of course, investing in land is also tax advantaged.”

What more can I add except to invite all of you to our next course where we will cover the answers to such questions? For details go to http://garyascott.com/courses/bldh.html

May your investments always be low and your profits, high.

Gary


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