Tagged With "Chase"

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Re: Traditonal or non traditional

AverageJoe ·
I would say to go with a mutual fund or to go to your county court house to see if there are any properties that have back taxes. One can make anywhere from 6-12% on the money they pay in back taxes on someone else's property! We have done this a few times, and it was good. But one always needs to check the property's condition, ability to sell, just in case you end up with the property. More often that not, if you do, it will be of much greater value than what you paid for the back taxes.
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Re: Traditonal or non traditional

AverageJoe ·
As far as savings accounts, you could keep going to the high interest savings accounts. The regular savings accounts are a good tool for kids to start learning the value of money, but for adults, the higher interest rate accounts are the way to go.
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Re: Traditonal or non traditional

Theodora ·
Thanks for this @AverageJoe Would love to learn more about the property/back tax investment option. Any good resources you can recommend to explore this in more detail.
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Re: Traditonal or non traditional

AverageJoe ·
I talked to a local realtor friend of mine. I also spoke to an investor in the town I grew up in while I was visiting there. The thing one needs to remember on these is that you may not get your money back for up to two or three years. But, you still get the interest as well. If the person never pays the back taxes, you get the first right to buy the property, sometimes for the costs of the back taxes alone. It is an involved process...I don't remember if it was Robert Kyosaki (Rich Dad Poor...
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Re: Traditonal or non traditional

Mo Brownies ·
Thank you for the info!
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Re: Traditonal or non traditional

Moore Income ·
I personally have been transferring my money to higher yield savings accounts without all the fees. There are so many new services out there that give you much higher interest than local banks. They are going to have to start competing or they are going to fall behind. The fact that they give so little interest and charge fees is not appealing to me at all. I had about $120 in my local savings account and I transferred it to my checking right before Jan. because I wasn't sure if my paycheck...
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Re: Traditonal or non traditional

AverageJoe ·
I liked my return on investment on the tax lien certificates, but there was way too much involvement for me at the time, and I didn't have the time. But, many of my friends ended up making a good chunk of change in it, Im thinking of going back to it again.
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Re: Traditonal or non traditional

Lucy ·
@Mo Brownies - I think more and more people are moving away from store front banks to online banking. You make way more in interest and you can deposit checks or do direct deposit just as easily.
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Re: Traditonal or non traditional

Mo Brownies ·
I live in NY - and unforuntately, from my quick research. this isnt possible. they only sell wholesale. Also you have to be a holding company. i think westchester county may allow for the public to buy. But it does seem like alotof involvment.
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Re: Traditonal or non traditional

Mo Brownies ·
I have now considered putting my emergency fund in a online CD account for 2.90 APY. its money i shouldnt be touching and hopefully i dont- but if anything I do have credit card I can use. Ive been thinking about doing the 12 months or 24 months CD. nothing more then 2 year. Doing the calculations - if i put 10k in, thats can be $285 or $588 respectivetly. Not bad for a year or 2 years.
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Re: Traditonal or non traditional

FreebiePharm ·
Forgot what the topic was after all the discussion...LOL...but definitely pays to go non-traditional these days...
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Re: Traditonal or non traditional

Bonnie Squires ·
i think we have some thing like this in KS. I just don't no how to find the list here. I found out throw that the 1 bedroom house sold for $3000 back taxes. The person who brought it or paid the taxes has the house looking really nice now.
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Re: Traditonal or non traditional

AverageJoe ·
If I could find the right properties here, I would do so. One friend made over $345K last year in five states. That's a great return for his $45K investment
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Traditonal or non traditional

Mo Brownies ·
Hi Everyone, I am thinking about closing my traditional bank account like TD and Chase. I already have 1 online high yield interest bearing savings account and im thinking about going all in. I no longer want to see an interest of .01 cent every year? or have to keep a minimum in order to avoud fees. What do you guys think?
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