Even “The Rich and Famous” Owe Taxes. Post 85

See the headlines

Michael Jackson’s Neverland Ranch public auction canceled

http://community.livejournal.com/ohnotheydidnt/23326658.html

Sharpton Owes Back Taxes

http://www.bootsandsabers.com/index.php/weblog/permalink/sharpton_owes_back_taxes/

This Week’s IRS “Hall of Shame” Inductee: Britney Spears

http://taxfacts4u.blogspot.com/2008/05/this-weeks-irs-hall-of-shame-inductee.html

Rich folks get into trouble all the time

Not long ago I learned from a credible source that “The Donald” has filed for bankruptcy 13 times. According to Barbara Walters, Donald Trump maintains that he has “never gone bankrupt.” I suggest that what he really means is, he has “never finalized a bankruptcy” versus never having “filed” a bankruptcy. Definitions of words matter. Just ask Bill Clinton, “I never had sex with that woman, Ms. Lewinsky.”; oral sex not copulation.

“Birds of a feather, flock together.”

It’s true. If you only looked at tax delinquent real estate that was worth $500K and more, then eventually you would find a “home run.” It does not matter that you do not have the funds to purchase the property. There are many other ways to benefit yourself, the tax delinquent and your investors. If you need ideas, that is the reason to hire Coach Mitch
to investigate expensive properties

There will often be significant commercial properties that are tax delinquent. You will be surprised at the number. The range is eye-opening. There are 20 unit complexes, bars, small warehouses, large warehouses, motels, gas stations, old schools, industrial facilities, retail locations, not to mention farms and other large pieces of acreage. In fact, there are tax delinquent properties in as many property classes as exist.

Coach Mitch’s “Ridiculously Simple System…”

Step 1: Determine Your Geographic Location

Step 2: Get Your List Of Tax Delinquent Property At Risk

Step 3: Choose The Property Type(s) That Most Interest You

Step 4: Market To Your Suspect Properties

Step 5: Make Your Best Deal and Close

Notice Step 3

Dream big. Go for the brass ring. There are many stories of investors who have decided to take a “flyer” and just “go for it.” The best part is, you can control properties for $1 by using Coach Mitch’s “famous $1 Option.” It works like a charm!

THE RECORD –

One of my students controlled a $1.6 MM restaurant in San Diego, CA for $1. He optioned it at $1.3 million and offered it for sale at $1.6 million. BTW, not only was that his very first deal, it was his very first conversation with a tax delinquent. YES – YOU CAN DO IT.

See Coach Mitch’s “Ridiculously Simple System…” for details.

See you at the top!