Lennox Group
I would like to hear any feedback on the Lenox group. I am considering using them to invest in tax liens. They charge a 5% per year fee with an expected 10 - 18% return which would be 5 - 13% net return. This excludes any foreclosures that they would split 50:50.
Anyone use their services before?
I just recently talk to them on the email. They ask min $50,000 to invest and 13% (it's decreasing base on how much you put until9%), fee for 3 years. And if there is foreclosure they would split 50-50. But I don't know where you learned 5%.
So, for very roughly calculation you will get profit for 2 years in 3 and you wil get 50% if there is any foreclosure in your investment. On the other hand, they are proffessional and they can get any lien certificate in any state. If you want to do it by yourself you better check the property by going there. Can you do it? Or you prefer to limit yourself with your own or neighbor states? (Otherwise you have to use your very valuable day offs, plus spend some money for airplane, hotel, etc) Another point, the possibility of having a foreclosure in anywhere in US is higher than just in your state.
For me, Lennox still looks good choice, but on the other hand 13% fee looks very high. It means they will make the first year profit from you in the first day, garantee.
Why would you pay someone else to do it? It's not that hard to invest in tax liens. You go to the auction, bid on it, if you win pay the government and wait until it is redeemed. If it ain't you own a house. Simple. Easy. Virtually no risk to thee. And you get a hell of a return. Just do it yourself. If you're going to be an investor be an investor. Don't pay someone else to make your investment descisions (especially on something so freakin' easy).
Mitchell
"Peace, love, dope! Now get the hell out of here!" --James Earl Jones, Field of Dreams.
I'm evaluating The Lennox Group too. Does anyone have any experiences using them? Please share.
I reviewed the company in the past, but decided not use them. My main concern is that they are not FDIC insured. Initial investment is high ($50K). If the company goes bankrupt, you'll loss your investment.