Need Help, Just Starting, Want To Buy Tax Lien Certificates
Would anyone like to be my mentor? Just starting to read information about tax lien certificates. How do I contact the counties to buy liens, any books to read, need someone to guide me hands on buying these certificates. What states should I look at, Texas, Colorado, Arizona,.....just need help! Thanks for all the responses in advance.
Audrey
Audrey -- Just do it. Tax liens, at least in MO as well as other states, in my opinion, are good things if you have the time, money, and patients (able to endure waiting or delay). And it doesn’t take a lot of time or money but it does take patients. Some states have a one year redemption period, some states 2 yrs, and some up to I believe 4 yrs. I am no professional by any means, just a guy who wants to acquire some property that I can somehow leave to my kids at a later time. I bought at tax sale last year, not really sure, 26 or 28 properties. However, the year is not over and I don’t know just how many I will get to keep due to the owners redeeming them. And it depends on how quick you want to get “rich”. Realizing “rich” is a relative term. I am not from CA but would be willing to impart to you what little I know about tax lien sales with slant on MO knowledge. Good luck, just don’t buy any I had in mind to buy . Remember there are enough sales to go around and more on the way. I don’t want to own all the land in the world – just that what is next to mine
I suggest Miami-Dade County Florida. All your property info is online and you can buy them via internet. I dont by the liens but the deeds. But the whole http://www.Miami-Dade.gov website system once you know it is excellent for research, and you know what your getting, whcih you can do anyplace over the internet.
Oh and at the sales 99% of the leins that push for foreclosure deed sale are redeemed. So you will get you money back plus the % return you won in the initial bidding.
ericamtrustfunding
Have you made any money from the tax deeds? Could you give me an example of one that you did? How much money you made, how long it took? etc???????? I went to that web site and did the tutuorial.
Thanks.
In Florida deeds and certs are 2 different things.
The certs you can buy over the counter from the county clerks and they pay interest. The over the counters usually pay 18%. They have to be at least 2 years old before you can demand payment but any over the counter for past tax years has been owned by the county and the date of purchase started back then.
Tax deeds are sold at monthly sales. They do not pay interest as you get the deed to the property onc eyou pay. You have to pay in full by the next day.