Georgia Tax Liens
Good Day!
In Georgia, we do not have Title Companies- attorneys close real estate transactions.
I was wondering if anyone here has had experience with purchasing tax liens in Georgia ?
With my real estate background- I have done deed research in the courthouse. And can access some information about one county nearby online.
My thanks in advance for your expertise !
Hey there, just saw your post. I personally stay away from Georgia. Too many liabilities. Okay if you have lots of money to spend on attorneys if your lien turns into legal trouble. Sorry.
But you're not too far from South Carolina, auctions are in October. Great state to get great property at minimal risks!
Hello fellow Georgian.. you are in a beautiful part of the State...
I understand that there are "Seven Golden States" for tax liens:
In order... Iowa, Florida, Texas, Arizona, Gerogia, Michigan and Illinois...
I hear that laws recently changed in Georgia so it may have fallen off the list...
Currently Florida is the only state that you can buy them over the counter...
If you are serious about Tax Liens you may want to consider using a Self-Directed IRA to buy them. My traditional IRA, like everyones has taken a dive, so I moved it to a self-directed and will be more than happy to make the (20 - 40% ROI) on a tax lien with potential of foreclosing on the property.
Happy hunting..
Hey, I hope this doesn't come across as an ignorant question, but what is an IRA? And what is a self-directed IRA. Just curious. Thanks.
IRAs and 401(k) plans are retirement vehicles, often of which 401(k) plans are offered through employers. You can contribute much less into an IRA than into a 401(k) plan. The catch with both is that you are not "supposed" to take your money out before you turn close to retirement age (some exceptions and penalties apply). The nice thing is that the money you contribute is contributed on a pre-tax basis. You only pay taxes once you start taking it out.
The "bad" thing with regular IRAs and 401(k) plans is that you are at the mercy of how these plans do. With self-directed plans you have control of WHAT exactly you do with your retirement money. There are a few companies out there who set up these retirement plans for you and you can have your money buy tax liens. Some companies are Mid Ohio and Pensco and there are others.
Hope that helped some.