Newbie Questions
I'm planning on starting out my business in REI via tax liens to raise money and to invest. After much reading/studying i've come to the conclusion that this will be the best way for me to get my foot in the door and set up a firm foundation. I'm intending on doing this mainly in Missouri (home state), Kansas, Illinois, and Nebraska my questions are:
1. How do you find out about the properties you're buying the leins to? (this seems to be the greatest risk when investing in tax liens)
2. How do you find out about Bankrupsy and other related issues with the properties you're bidding on.(this is a close second to getting a piece of land no one wants)
3. Who do you talk to to find out about local tax sales or tax sales in the area you plan on purchasing liens in.
4. Can you purchase tax liens through a corperate entity.
1. How do you find out about the properties you're buying the leins to? (this seems to be the greatest risk when investing in tax liens)
Answer: By doing a property search where they record property related documents.
2. How do you find out about Bankrupsy and other related issues with the properties you're bidding on.(this is a close second to getting a piece of land no one wants)
Answer: By doing a bankruptcy search at the bankruptcy court.
3. Who do you talk to find out about local tax sales or tax sales in the area you plan on purchasing liens in.
Answer: The local tax office or local tax official.
4. Can you purchase tax liens through a corperate entity.
Answer: Yes you can.
[addsig]
good good thanks a bunch, one more question regarding the title. Here an example. Say i go to the tax office and find a lien i want to purchase will they give me a title number or something to go do a check on the title?
Just to let you know, I live in Kansas and they do tax sales not tax lien sales.
The difference is a tax sale you are bidding for the property itself.
nice thats good to hear. liens are nice but actually getting the property is better :-D