WVUFootball29 Posted October 16, 2009 Posted October 16, 2009 Was bored today and was looking at foreclosed houses in the area to see if there were any good deals...no luck. However, I came across some auctions for tax lien certificates and tax deeds. They sounded kinda interesting so I spend most of the evening reading up on them. Looks like an ok investment if you know what you are doing. Do any of you have any experience with these?
Beerball Posted October 16, 2009 Posted October 16, 2009 Was bored today and was looking at foreclosed houses in the area to see if there were any good deals...no luck. However, I came across some auctions for tax lien certificates and tax deeds. They sounded kinda interesting so I spend most of the evening reading up on them. Looks like an ok investment if you know what you are doing. Do any of you have any experience with these? Ask JfH.
stuckincincy Posted October 16, 2009 Posted October 16, 2009 Was bored today and was looking at foreclosed houses in the area to see if there were any good deals...no luck. However, I came across some auctions for tax lien certificates and tax deeds. They sounded kinda interesting so I spend most of the evening reading up on them. Looks like an ok investment if you know what you are doing. Do any of you have any experience with these? I had a (very) passing interest years ago, intrigued by a statement I read... "very few properties actually sell for their tax liability value." The deal was that you would purchase the liens from municipalities etc. at a good discount, then threaten the owner with foreclosure unless they paid up. IIRC, the thing I read about was for properties in FLA. But what are the potential liabilities...what if you took possession? Had to pay costs associated with a foreclosure? Ended up with a public nusiance property, an environmental nightmare? This was before the internet, and I wasn't willing to put in the time to investigate such.
ricojes Posted October 16, 2009 Posted October 16, 2009 Was bored today and was looking at foreclosed houses in the area to see if there were any good deals...no luck. However, I came across some auctions for tax lien certificates and tax deeds. They sounded kinda interesting so I spend most of the evening reading up on them. Looks like an ok investment if you know what you are doing. Do any of you have any experience with these? I went to a seminar a while back regarding TL's and it sounds like you can make a very nice living, but you have to know all the legalities involved. The best states for TL's are Texas and Florida, they yield the highest rate of return at 25 and 18%. One thing is to always buy tax lein's from the county and never the owner. You can buy TL listings from the county every month, the rate varies from county to county. There is a lot of research involved, because if end up owning a house through right to redemption in a bad section of town, good luck unloading it! But there is all kinds of ways to go about it, including on-line auctions. It's actually very interesting. The guy that spoke at the seminar is Mark Walter, do a search on Mark Walter Tax Lien and you'll get a ton of hits.
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