This is Saen, today were going to talk about New Jersey, the Garden State. New Jersey is a lot more than just New York and the Sopranos. Great show but here is the deal, New Jersey is different. Well it pays 18%, there is 2 year redemption period, I do believe it's 2 years on that. But here is how it works; they do it by townships and not by counties. So you literally, I do believe off the top of my head, there's probably over 538 taxing jurisdiction in New Jersey. One of the cool things, especially if you live in New Jersey, I got people going I'm going to go here Im going go here. Man, it's right in your backyard. I have had students literally make hundreds of thousands of dollars just sticking with New Jersey.

So let me show you how it works. In New Jersey its done by the townships instead of the county. So you can obviously have several different townships within one county. So it's 18% with a couple year redemption period. Now here is the cool thing about it, the ones that dont sell at the sale a lot of times they just sit in the township inventory and they dont even understand what these are, they just know they havent sold. So if you practice a little bit, back to your intelligent questions, and you happen to be in New Jersey and you are driving through, I mean New Jersey is a beautiful state. That's why they call it the Garden State. Its not everything you see when you fly into New York. There are some beautiful places there.

So you go to one of these townships in New Jersey and find out what taxing jurisdiction is, spend some time there and ask some questions. Let me ask you this, when you have your sale, if, key here if, not when something doesnt sale. Its if, because theyre going to say everything sales. You say, if something doesnt sale at the sale, a tax lien, where would it go. Who would have that?" Oh that's going to be Mary Eleanor or Joe, or whatever the case is. Go over there and say listen, can I have a look at some of the inventory that hasnt sold. What you're going to find is some of liens in that inventory, listen to this, are already what I call foreclosable status, is what we call a foreclosable lien. So it has been sitting in the inventory long enough that the redemption period is over. Because in New Jersey the clock starts ticking the day of the sale, regardless if anybody bought it, so now the tax lien is sitting in inventory I can literally pay the back taxes off the next day start the foreclosure process. This is called a foreclosable tax lien certificate.

The reason I say have some fun with New Jersey because I mean that's what its. You've got 500 plus taxing jurisdiction there. All sorts of beautiful little places over there that nobody knows about and youd have to be calling them specifically to find out stuff on it. So don't ignore New Jersey, I dont do the accent very well but that's okay.

Here is the other thing about New Jersey that you're going to like, its not only that but the fact of the matter is when you go in there and you're buying these thing you can immediately foreclose on it. Nobody else knows about those particular townships or whatever but while you are there, guess what you can do, talk to your accountant about this or talk to our staff and we'll help some of your accounting needs there for tax wise but guess what, tax deduction: because this is a business trip. The way I understand the IRS code, if you can prove that 50% of your time was spent conducting business you can write that day off. So think about this, not only New Jersey or guess what Hawaii has tax deeds, Florida has tax deeds, upstate New York has tax deeds, Aspen Colorado has tax liens, Las Vegas has tax liens and deeds. What can you do with your trip? Monroe County down in the Key West Florida has tax liens. What can you do, you could write that out, Puerto Rico tax lien certificates. So all sort of places you can go. Have fun and write the trip off. So anyways thats my blog today. Enjoy that, enjoy the beautiful weather we have at this time and we'll see you next week. Take care. http://www.youtube.com/watch?v=ztN8e8UcwSs