How to Make Some Money Purchasing and Selling Used Cars

They key to creating a great deal of money in this company is to buy lower, and promote at a big profit. This report will show you how to get started down the road to riches being a utilised auto dealers.

Operating your own used car or truck enterprise

The goal of quite a few persons is just for making a little added profits. In the event you look at $1,000 to $3,000 or much more for a single sale in one month for being "extra income" you could simply make that inside your spare time without a lot effort.

About the other hand, you might be one particular of those people who want to become their private boss. Although it is true that the risks are usually greater than in the event you just worked for an individual else, it is just as true that risks and rewards go hand in hand. If you're willing to take the plunge, the possible returns are also higher. If you have a bit from the adventuresome spirit and some confidence in your own personal knowledge and abilities, operating your individual utilised car organization may well be the ideal way for you for making big, massive money!

Benefits of owning your individual enterprise

The opportunity to express your personal ideas and do things precisely as you need are among the primary positive aspects of operating your own organization. The challenge and excitement of running your individual operation also ranks large on the checklist. A different massive advantage is that you will receive all the profits generated by your time and efforts. The prospective exists to develop a part-time enterprise into a full-time career that produces an cash flow you never thought feasible.

Capabilities and abilities necessary

The same kind of personalized abilities which are important to successfully perform for someone else are also necessary being effective in working for yourself. Individual abilities involve getting conscientious, dedicated, determined and persistent. Good human relation capabilities are also important.

There's also another form of skill that may be important: It involves the potential to manage and organize your routines and possibly those of other people in the event you hire salespeople to work to suit your needs. This skill should be taken extremely seriously simply because it organizational potential that will make the difference between big accomplishment and total failure.

Finally, you can need technical knowledge. These are the skills that include the knowledge to perform routines involved from the utilized vehicle company. It can be this combination of technical, personalized and management expertise that will make your operation effective.

Acquiring your utilized vehicle business established

No matter whether you're operating your business enterprise with a part-time or full-time basis, persons will expect you to offer the kind of provider any consumer expects. They will also associate the form of program they can anticipate using the picture you produce for the company. This picture are going to be the impression you make on others.

As an example: Will folks perceive you as handling high-medium, or low-priced autos? Will your used cars appeal mostly towards the rich, the poor, or the middle class? Do you offer some thing for everybody or do you specialize? (Just pick-ups, just vans, etc.)

Any positive image is fine as long as you are consistent in everything yu do inside of the scope of that picture. The graphic you create will largely set the tone for all your organization pursuits, including selection of a enterprise spot, forms of autos handled, prices charged, etc.

Selecting a spot

If you are going to purchase 1 or two cars at a time for resale on a part-time basis, then functioning suitable from your property shouldn't pose a issue for you. Even so, in case you intend to eventually have a big, full-time business enterprise operation, the most critical ingredient inside your achievement or failure could be your site. What constitutes a good place varies with all the form of business enterprise. But inside employed automobile company it means staying highly visible in a high traffic region, and being situated so that driving shoppers can get to you. In many situations, the spot yo consider ideal may well not be readily available, or if it really is, the price may not be practical. In that event, you are going to simply have to pick out the next finest spot you can come across and that's cost-effective. Then you will must male a strong advertising and promotion perform to generate consumers aware of who you're, and what that you are selling, and in which they can come across you.

Regardless of whether you choose a site at your property or in a organization district, you must make particular you happen to be operating inside city and county zoning ordinances. Zoning ordinances are regulations specifying what each and every parcel of land inside of a community could be utilised for. Inside the site you decide on is not zoned for the type of business you desire to start, you are able to appeal on the zoning commission to obtain a "zoning variance." If approved, you will likely be allowed to use the house for the enterprise.

The way to locate utilized automobile supplies

To get started out within the "Buy lower, Market for Massive Profits" applied automobile company, you'll have to locate suppliers. In some cases you is going to be able to buy directly from individual auto owners. At other times, you will go to independent auction houses or attend U.S. Administration Auction Income exactly where you can often purchase motor vehicles for pennies around the dollar.

An independent auction offers automobiles of owners who want auctioneers to offer by acquiring buyers who are at the auction home to bid against one another. Normally, there's a minimum bid set. The person who provides the highest bid over the minimum set has the winning bid. The seller, even so, also has the proper to offer the automobile below the minimum bid if he chooses. Incredible bargains can be discovered at independent auction houses.

Independent auction residence profits take place throughout the U.S.A., quite a few with a weekly schedule. For additional facts on auction residence locations refer to your telephone directory under "Auctions" or "Car Auctions," write to:

National Auto Research P.O. Box 758 Gainsville, GA 30503 (404) 532-4111 (800) 554-1026 begin_of_the_skype_highlighting              (800) 554-1026      end_of_the_skype_highlighting (Except Georgia)

N.A.D.A. Employed Car Guide Co. 8400 Westpark Drive McLean, VA 22102-9985 (703) 821-7193 begin_of_the_skype_highlighting              (703) 821-7193      end_of_the_skype_highlighting (800) 544-6232 begin_of_the_skype_highlighting              (800) 544-6232      end_of_the_skype_highlighting (800) 523-3110 begin_of_the_skype_highlighting              (800) 523-3110      end_of_the_skype_highlighting (in Virginia)

U.S. Federal government Auctions

A wide variety of personal asset either no longer necessary, or seized by the Federal Federal government is periodically placed on public sale.

The Department of Defense and also the General Services Administration are the principle government income outlets for surplus residence. As items turn out to be offered for public sale. catalogs and other types of announcements are distributed to people who have expressed an interest in bidding on the varieties of asset being provided.

Profits normally are with a competitive bid basis, with the house being sold towards the highest bidder. Among the numerous thousands of things sold are automobiles along with other automobiles of each and every imaginable make and model. Actually, tens of thousands of motor vehicles are sold by the federal government at public auctions throughout the country just about every year.

How can there be so many vehicles for sale? Simply because the government is so enormous that it is challenging to even comprehend just how significantly asset is amassed for resale. The truth is, the govt seizes, confiscates and forecloses on residence that results in numerous millions of pieces of asset just about every year, and that number continues to grow.

Incredibly, the administration isn't a private company that is certainly interested in creating a profit on the items it sells. The administration is mostly considering eliminating enormous stockpiles of seized and surplus cars and also other properties. Being a result, a lot of a large number of cars are offered towards the public via govt auctions at a fraction of their actual value. This is where by you can purchase just about any modelof automobile you desire at super-huge savings and make gigantic resale earnings.

How to obtain on the Government's Vehicle Auction Mailing Record

Both the Govt Services Administration (GSA) and also the Department of Defense maintain mailing lists on persons enthusiastic about seized and surplus home revenue. Folks on these lists are sent catalogs and other revenue announcements in advance of profits and give the chance to inspect the cars and submit bids.

Every single GSA regional office maintains a mailing record for revenue of residence situated in the geographical location it serves. For general information about income conducted by GSA, or to become placed on the mailing checklist, write to any on the following addresses.

The Department of Defense maintains a centralized mailing listing for the revenue of its residence situated inside United States. The Defense Surplus Bidders Control Office, Defense Logistics Service Center, Battle Creek, Michigan 49016 maintains this listing.

GSA Consumer Provider Bureaus

National Capital region

GSA Consumer Support Bureau 7th and D Streets, SW Washington, DC 20407

Serves: District of Columbia, nearby Maryland, Virginia.

Region 1

GSA Client Support Bureau Post Workplace & Courthouse Boston, MA 02109

Serves: Connecticut, Maine, Massachusetts, New Hampshire, RHode Island, Vermont.

Region 2

GSA Buyer Program Bureau 26 Federal Plaza New York, NY 10278

Serves: Ne Jersey, New York, Puerto Rico, Virgin Islands

Region 3

GSA Consumer Service Bureau Ninth and Markt Streets Philadelphia, PA 19107

Serves: Delaware, Pennsylvania, Maryland, Virginia, West Virginia

Region 4

GSA Customer Service Bureau 75 Spring St., SW Atlanta, GA 30303

Serves: Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee

Region 5

GSA Purchaser Program Bureau 230 S. Dearborn St. Chicago, IL 60604

Serves: Illinois, Michigan, Minnesota, Ohio, Wisconsin

Region 6

GSA Customer Service Bureau 1500 E. Bannister Road Kansas City, MO 64131

Serves: Iowa, Kansas, Missouri, Nebraska

Region 7

GSA Purchaser Support Bureau 819 Taylor Street Forth Worth, TX 76102

Serves: Arkansas, Louisiana, New Mexico, Oklahoma, Texas

Region 8

GSA Customer Service Bureau Bldg. 42-Denver Federal Center Denver, CO 80225

Serves: Colorado, Montana, North Dakota, South Dakota, Utah, Wyoming

Region 9

GSA Purchaser Support Bureau 525 Market Street San Francisco, CA 94105

Serves: Samoa, Arizona, California, Guam, Hawaii, Nevada

Region 10

GSA Customer Services Bureau Auburn, WA 98002

Serves: Alaska, Idaho, Oregon, Washington

How to Determine the Value of Employed Autos

No matter whether you attend and auction or purchase a automobile outright from a seller, you must know what it is worth. The finest way to determine a vehicle's average market- trade-in or wholesale value, average loan or average retail value would be to subscribe to N.A.D.A. Official Utilised Auto Guide, published monthly by the National Automobile Dealer's Used Automobile Guide Co., 8400 Westpark Drive, McLean, VA 22102-9985. Write for current subscription rates.

N.A.D.A. also publishes guides as follows:

Official Older Used Car or truck Guide.
Official Used Car Trade-In Guide
Official Title & Registration Book.

Official Recreation Car Guide...

Official Motorcycle/Snowmobile/ATV Personalized Watercraft Appraisal Guide...
Smaller Boat Appraisal Guide.
Official Larger Boat Appraisal Guide.
Official Mobile House Appraisal Guide and Mobile Property Appraisal System.

A weekly applied car or truck market guide is also obtainable from: National Auto Research, P.O. Box 758, Gainsville, GA 30503. Write for current subscription rates.

Regional Classifications

The average values listed from the N.A.D.A. Official Used Car or truck Guide are based upon reports of actual transactions by dealers and auction houses throughout every area for which a guide is published. A used car or truck guide-book normally includes (1) Domestic Cars (2) Imported Cars and (3) Trucks. Manufacturer's names are listed alphabetically.

Securing Licenses and Permits

City, county, state and/or federal licenses or permits are often needed before entering a particular organization or assistance operation. Often these are issued solely being a fund-raising measure, and therefore, are easy to obtain by submitting a fee.

Within the other hand, licensing is also used as a method of regulating the competency of those entering a particular field and to protect the public from shady operators. In some instances an exam is administered, and moral and financial requirements may well will need to be met as well.

From the used-car business enterprise, most states require that you obtain a dealer's license if you're buying and selling vehicles for the purpose of generating a profit. However, you might be not required to apply for a license when you only make an isolated or occasional sale. You are not considered to be within the business of selling motor motor vehicles in that event. "Isolated or occasional sales" in many states means the sale, purchase, or lease of not much more than five motor motor vehicles in a 12-month period.

Once you began to offer additional vehicles for profit that's allowed by your state law on an annual basis, you should apply for a Dealer's License by contacting your state department of public safety of department of motor car.

Check with your attorney or other city officials to determine what licenses and permits are necessary. Basically begin up a company without having having the proper authorizations can result in severe penalties, and you could be forced to discontinue operations.

Numerous states and some cities and counties require that income taxes be collected. The state sales tax permit is readily available from the State Department of Revenue. City and county permits are readily available from the tax department in those jurisdictions.

Even though a particular amount of "red-tape" must be tolerated to obtain some licenses and permits, this is usually a one-time occurrence. Then, it is just a matter of submitting an annual renewal fee.

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Make Money With Your Own Little General Store

It was a beautiful, sunny, Sunday afternoon as we drove down a country highway in Wyoming and came across a little general store. Aladdin General Store was built in the 1890s as a saloon and mine commissary and became a general store in 1915. The town of Aladdin, population of only 15, can be found between the Black Hills and Devils Tower on Highway 34, 17 miles west of Belle Fourche, South Dakota. Today, this store is the best preserved of Wyoming's five remaining 19th century mercantiles left in the state. It has continued to serve the small community as a post office, bar, barber shop, telephone office, gas station, and also boosts many museum pieces and has a small antique stop. Interesting to note, this store served as a railway depot and freight station for the Wyoming and Missouri Valley Railroad, an 18-mile stretch that hauled coal and mining supplies. This 100+ year old building is listed on the National Register of Historic Places and remains the staple place for the small community.

As I roamed around the timeworn, little store, I wondered how the store owners got along way back when, advertising and selling their goods without having the privileges of the internet? Being a child of the late 20th century, it is difficult to conceive of how business was conducted in the late 1800s, as most people today can easily type a few strokes on their blackberry or laptop with a multitude of purchase choices at their disposal in record time.

After the U.S. Civil War ended in 1865, people started moving around and settling in all parts of the country. Each small town that emerged needed a place where people could go to buy every day supplies. General stores were built everywhere. Everything was sold from essential items such as flour, sugar, coffee, tea, and spices to farm equipment, gun powder, tobacco, gingham fabric, stick candy for children, and seed for planting. Most stores also served as the town post office as well as local hangout where townspeople could relax and discuss the latest town gossip and play a friendly game of cards.

A large stock of goods was always kept on hand, with deliveries coming in by horse-drawn wagon and train. But the general store was plagued with problems with shipments of goods, some arriving a year after being ordered. Store owners used every available space to maximize storage. Ceiling high shelves were stocked and organized with the largest number and array of items, while surplus and specialty items were stacked on the floor, on the counter, on boxes and barrels, and in bins, easily visible and readably accessible by reach to any potential patron. Stock in an old general store may have sat for weeks until a local pioneer would have traveled for miles to buy a months-worth of supplies. Therefore, these stores were infamous for high prices in order to cover their overhead.

During the 1800s, a customer would come into the store and buy something for cash, on credit or barter with the store owner for some service that they could render or for harvested crops. Store accounting was done by hand, with ledger entries recorded for each customer indicating items bought, payments made and any balance remaining. The store owner, knowing everyone in the town and outlying community, needed only a handshake to confirm a deal.

With the power of the internet at its fingertips, a general store today would have the ability to offer the best merchants with a rich variety of products for very competitive prices, without the hassle of extensive shipping and storage costs. Order and invoice tracking would become easier using any number of online software packages. Unknown to frontiersmen and miners of long ago, any one can now sell and shop from the convenience and comfort from inside their own home. As if coming full circle, ironically, the Aladdin General Store is now up for sale on the internet.

You can set up your own little general store utilizing affiliate programs. So, exactly what are affiliate programs and how do you make money from them? Merchants have what is called affiliate programs that they use to track sales. When you sign up to an affiliate program, you are provided with a unique sales link, specifically identifying you as the referring affiliate, which you will then use to refer people to the company website. If the customer makes a purchase, you get a commission from that purchase. It is that simple.

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Raw Milk Gets a Raw Deal in Jackson, Wyoming

Jackson Whole Grocer is a unique food provider in Jackson, Wyoming. It's a place where customers are accustomed to getting what they ask for. The shelves and refrigerated cases in this business are stocked with many standard grocery store food items, but they also offer a wide range of choices in response to customer demand. This grocer is responsive to niche market interests such as low carbohydrate, organic, vegan, and all natural products. The Jackson Whole Grocer is one of those rare hybrid grocery stores providing conventional and organic products.

On April 7th of 2010, the county health inspector paid a visit and informed the store that they could no longer have raw milk available for purchase as it was contrary to state regulations. As a result of the health department visit, this unique grocer isn't able to satisfy customer desires for raw milk products, and the customers are plenty upset about it. Many people who enjoy raw milk do so because of its nutritional properties that haven't been "cooked" out by the pasteurization process. Some individuals who were formerly lactose intolerant find that they can digest raw milk without incident. Clearly, the demand for this premium priced natural and unprocessed food demonstrates a base of consumers who are well informed about its benefits. All raw milk products in stock typically sell out in less than 24 hours. This speaks volumes about customer demand.

Stacey Breidenstein told me, "We're about food choices. Our products range from traditional to organic. We're here to meet customer demand - not tell them what to buy." I get the sense that Stacey favors unprocessed and organic foods, but she isn't about to do any arm twisting with her customers - she wants them to decide for themselves. Most certainly this is a model for a successful business - selling customers what they want!

Unfortunately, customer demand in Jackson runs contrary to government rules that prohibit raw milk sales. Some would argue that raw milk presents potential health risks because it isn't pasteurized, yet many states allow the sale and consumption of raw milk. It's typically a small family-owned dairy that provides raw milk and raw milk food products to consumers, and rarely are there instances of tainted product. Oddly enough, salmonella, E-coli and other contamination issues most often come from large conventional food processing facilities that are subject to government regulation. There are health risks associated with anything that we consume, however the Jackson Whole Grocer has no report of problems linked to the sale of their raw milk products.

It's time we start to put things in perspective. Customers want more choice and more control over the foodstuffs available for purchase. Raw and organic products aren't something new. They were introduced in response to customer demand for pure foods. Let's also not lose sight of the fact that grocery stores commonly sell a wide range of raw products, including: chicken, fish, sausage, shellfish, beef, pork, eggs, fruits and vegetables. It's clear that consumers are very comfortable with raw and unprocessed foods. This same degree of comfort should extend as well to milk and milk products such as butter, cream and cheese.

Perhaps our legislators will hear the message that Stacey and her customers would like to convey. They intend to make their voices heard at the interim session meeting of the Joint Ag Committee that will be held in Dubois, Wyoming on April 19th, 2010. Many in the halls of power believe that they know better about the food choices people should be making. If only such food choice sermons were limited to their own family and friends, perhaps that would allow well informed consumers to make their own choices about what is good and healthy food.

Thomas Paine advised us many years ago in Common Sense that the habit of thinking something "not wrong" gives it a superficial appearance of being right, and that brings about defense of tradition when it's challenged by people who know better. It's time to challenge Wyoming's prohibition against raw milk simply because it's wrong to deny a good source of natural food to people who desire it. Supporting free choice in the marketplace will help restore business that the Jackson Whole Grocer lost on April 7th, and it will help restore confidence that we still have common sense enough in the legislature to recognize the right of the people to have free choice about the food they would like to consume.

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UTV For Sale - Keep an Eye Out for This Versatile Vehicle

I came across a classified ad the other day that read, "UTV For Sale."

"What's that?" I thought. Some kind of underground television?

I mean, I've heard of an ATV, All-Terrain Vehicle, but what exactly is a UTV?

So I decided to do a little research. After all, "UTV For Sale" may be something I need, right?!?

UTV, the Workhorse

"UTV" stands for "Utility Terrain Vehicle." Basically, they're a vehicle designed to be a workhorse that can get pretty much anywhere.

They look like a large open-air dune buggy with fat tires or even tracks, like you might see on a bulldozer. Generally UTVs only have two seats, although you can get a modified buggy with a back seat for passengers. Behind the front two seats there is a payload area to haul supplies and so on. Some UTVs are also called "Mules," because they can carry heavy packs. "Gator," named after a John Deere model UTV, and "Rhino," after a Yamaha model, are also becoming popular.

So what can you do and where can you go with a UTV?

Anything and anyplace!

Valued by Law Enforcement Everywhere

Many fire and rescue teams are moving toward UTVs since they are so very versatile.

Parks and Recreation Departments, Fire Departments and Police Departments have employed these vehicles because of their ability to get into very difficult-to-reach locations to reach stranded hikers, climbers and hunters. Tour Guide services use Mules because they can take handicapped visitors into areas that they otherwise may not be able to see because of mobility problems.

Farm and Ranch Vehicle

Farmers and ranchers like UTVs because of their usefulness in hauling supplies to remote territories. One rancher said that he loves the versatility of his Mule since he uses to it to haul baby calves as well as feed and even ranch hands.

The UTV is perfect for working hard and traveling into places that the normal car or truck can't go.

4-wheelers or quads are valued by sportsmen and hunters because they can also go anywhere, but their payload is quite limited. The UTV provides the solution to issues of getting somewhere hard to access with equipment or supplies.

Added Traction for Snow and Sand

To make a UTV even more versatile, one of the options available is to replace the fat tires with tracks. Tracks are rubber belts that allow the vehicle to travel over snow, sand or other terrain that the typical wheel will break through. The tracks allow the Mule to ride on top of the loose ground, much like a bulldozer, providing added traction and travel ability.

This option is available for most models. If you aren't able to get tracks for your chosen UTV model, you can find them readily attainable as an after-market add-on.

My Experience

So what did I do? I answered the "UTV For Sale" ad and bought it!

Since I have a small ranch with acreage and animals, I've found the UTV to be a perfect fit for me. I can haul fencing supplies to where I need to make fence. I can haul sheep, chickens and calves in the payload area without any problems. When I need to travel to the far edges of my acreage, there's room for both cargo and my cow dog.

I've found the Mule to be great at climbing up rocky hills and outcroppings, and it manages through the prickly pear cactus of my rural Wyoming pastureland without problem. My wife uses the UTV to carry flowers and plants around the yard conveniently, and it handles the grape, cucumber, tomato, sweet corn and pumpkin harvests with ease.

She has even used the Mule to haul items for a garage sale (including an old water heater and treadmill) to a neighbor's home!

In short, if you're fortunate enough to come across a "UTV For Sale" ad yourself, take advantage of it. You won't be sorry.

You can find a UTV for sale at any place that sells lawn tractors, some motorcycle stores, and even some home improvement stores.

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Homes For Sale in Wyoming

Families are now looking for homes which are located in planned communities as then the homes require less maintenance and allows them to lead stress free lives. The area should have leisure opportunities and lots of open space. They also look for areas where the population is learned and cultured as they want their children to inculcate good values. They also look for security aspects since crime has become a major problem in all neighborhoods.

Real estate in Wyoming is in high demand because Wyoming allows you to live a lifestyle that suits you and fulfills all your buying criteria. It is a good investment if you are thinking of buying a Jackson Wyoming homes for sale or in the other two exotic areas of Wyoming but there are things which you should keep in mind before finalizing the deal.

When you are buying Wilson Wyoming homes for sale, search for a location that has the potential for growth. You can make changes in your home but you cannot change the entire neighborhood. In this regard, Wilson Wyoming real estate is the best bet since these locations are developed and have scope for further development.

The best Teton village Wyoming real estate is property that requires you to work on it and thus you can design the home according to your preferences and tastes. This will also ensure you good returns in case you decide to sell off the property.

Jackson Hole Wyoming real estate should have enough additional space so that you can increase your living area as and when your needs increase. There should not be many building restrictions in the area.

Another advantage of buying Teton Village WY Homes for Sale is that the area offers international standard schools which are located at convenient locations.

Having a clean credit history makes buying Wilson Wyoming real estate easier since then applying for loans in Wyoming banks is sure to get you a loan.

Jackson Wyoming homes that are for sale are efficient in saving energy which can save you thousands of dollars over the course of time.

These areas are well connected by air, rail and road transport and the traffic is also not much, so you do not require spending a lot of money and time in traveling.

When you are looking for Wyoming real estate, it is better to visit online websites as they have provision for specific searches so you can search for the house of your dreams quickly. This helps you save a lot of time as you do not have to look at houses which do not fit the bill.

Your chance of buying or selling a property increases ten folds if you take the help of online real estate websites. This is because millions of people search the net for real estate deals. Websites are thus the quickest and safest way to buy or put up Wyoming homes for sale.

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Tax Lien Investing: What Happens at a Tax Sale?

What happens at the tax sale depends on what state you attend a sale in, and on whether it is a tax lien sale or a tax deed sale. Tax lien sales can be very different from state to state or even from county to county within a state. Tax deed sales are pretty much the same around the country.

At most tax deed sales the properties are read off by the auctioneer in the order that they are listed and the price of the property is bid up. The exception to this is in counties that have online deed sales, like some counties in California and Florida. In order to bid at an online auction, you have to register online and put up a deposit. The properties are usually listed in batches and a time from is given for each batch. You put bids in on the properties that you want to bid on, but you don't know who else is bidding and what the other bids are. You may not even know if you are the successful bidder on a property until after the sale.

Tax lien sales can differ greatly from state to state. In some states the interest rate is bid down. This happens in Florida, Arizona, (two of the most popular tax lien states) Illinois, and in Nassau County, NY. In other states the interest rate is kept constant and the price of the lien is bid up. The amount bid up from the amount due is referred to as "over-bid" or "premium," and each state handles it a little differently. In some states you receive interest on the premium paid for tax liens (Alabama and Indiana are two state that give you interest on your premium), and in other states you do not (West Virginia is one of these states). Some states do not pay interest on the premium amount and do not return the premium to the investor should the lien redeem (Colorado and Vermont are two of these states). New Jersey is the only state where the interest rate can be bid down to zero and then premium is bid. You don't receive any interest on the premium paid, but you do receive your premium back if the lien is redeemed within five years.

In some states, something entirely different than the interest rate or the premium is bid. In these states, what is bid down is the percent ownership interest in the property should the lien be foreclosed. The tax lien certificate is awarded to the bidder willing to accept the lowest percent ownership interest in the property. As you can imagine, this makes for some sticky situations should you have to foreclose on a lien and is not the ideal situation for the investor. Tax sales are conducted in this way in Rhode Island, Nebraska, Louisiana, and Iowa.

Some states will use a random selection or round robin process to award tax lien certificates at the tax sale. With the random selection process, the tax collector or auctioneer randomly selects bidders, usually by bidder number for each parcel as it is read out at the sale. With the round robin procedure, the tax collector will go around the room, offering the next parcel on the list to the next bidder in line. The downfall to both of these procedures is that you cannot pick which properties you want to bid on and only do your due diligence on those properties. Here you do not know which properties will be offered to you and you can only accept or decline the ones that are offered to you. The random selection process is used in Wyoming and in Oklahoma. The round robin procedure is used in some counties in Colorado for liens under a certain amount (the amount differs by county).

One tax lien state does something entirely different than any other, and that is the Commonwealth of Kentucky. In Kentucky, nothing is bid, or randomly selected. There is no auction. They accept bids for the amount due plus costs by mail, e-mail, fax, and in person, and the first bid to be received is awarded the tax lien. Although you can mail or fax your bid in, you have to be present at the "sale" to be awarded the tax lien certificate.

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Real Estate Transfer Taxes Overlooked Sale or Purchase Expense

A real estate transfer tax is a one-time tax paid at the closing of a property, and is considered a stream of revenue for state budgets. This transfer tax though, once collected is not generally used for housing-related purposes. The tax is based on the value of a property as agreed to by the parties in a real estate contract.

In the excitement of selling or buying a home, often the real estate transfer tax cost is overlooked. Depending on locale, either the buyer or seller pays the tax at closing or escrow, but beware in New Hampshire both the buyer and seller pay, half of 1.5%!. In some states it can be a formidable amount, you should be prepared for what the transfer taxes will be, and who pays them, before you start a home search or list your home for-sale.

The good news is, thirteen states don't have a real estate property tax. They are: Alaska, Idaho, Indiana, Louisiana, Mississippi, Missouri, Montana, New Mexico, North Dakota, Oregon, Texas, Utah, and Wyoming.

The bad news is that the remaining thirty-seven states and The District of Columbia charge taxes on the transfer of a property. The tax is only levied once when a property is exchanged between parties, unlike general property taxes which are paid annually and are based on the assessed value. Real estate transfer taxes range from a low of .01% in Colorado to a high of 1.28% in Washington state.

Variations on transfer taxes include; in Arizona only charges a tax on deeds. However Alabama and Florida charge on deeds and mortgages. To avoid financial surprises, inquire early as to who pays (buyer or seller) and how much transfer taxes will be. Some states dictate who pays the tax, and some just want the tax paid. This cost can typically be negotiated between the parties. Consult an experienced real estate attorney.

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