The $9B Investing Niche You’ve Never Heard Of with Brian Seidensticker

·37 min·3 clips

Brian Seidensticker started flipping houses until a tax lien scare in 2008 sent him down a $9 billion investing rabbit hole.

The episode begins with hosts Russ Morgan and Joey Muray introducing Brian Seidensticker, an expert in tax lien and tax deed investing. Seidensticker explains that this is a $9 billion annual industry, comparable in size to the NBA, yet remains unknown to most investors. He clarifies the difference between tax liens, where investors pay back taxes and earn interest, and tax deeds, which involve buying the property itself at auction. Seidensticker shares his personal entry into the field after receiving tax lien notices on a property he was flipping during the 2008 crash. He details the challenges, including the need for cash at auctions and the complexity of title underwriting, which involves quiet title lawsuits in most states. Seidensticker describes his company, Tax Sale Resources, which tracks 9,000 auctions annually and provides tools for underwriting properties. He also discusses Mountain North Capital, a fund that partners with experienced tax deed investors by providing capital, aiming for mid-20s returns. The fund buys properties at an average of 53% of 'as-is' value, with a 65% maximum threshold. Seidensticker explains the fund's structure, including a backstop lender covering 90% of capital and quarterly distributions to investors. The episode covers both active and passive investment avenues, with resources for those wanting to operate locally or invest passively.

As heard by us

A grounded look at tax-sale investing, from local auction work to a fund option for passive investors.

The Wealth Without Wall Street Podcast gives tax lien and tax deed investing a clear, practical frame, starting with the local auction work that sits behind the passive-income pitch.

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Why you'd press play

Curious whether tax-sale investing can fit a passive-income plan when you would rather not spend your days chasing local auctions?

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