Tax Certs And Deeds
Hello Everyone,
I am looking for additional info and suggestions regarding tax certs and deeds in Illinois. I live in Chicago and have a real estate background of about 7 years. I am planning on attending the tax sale here I believe in September some time but have a few questions. My first question is this. I have the opportunity to either purchase tax certificates from Chicagos largest buyer, or either obtain the certs myself at the tax sale. I would prefer to invest in the properties that have 6 months or less on the redemption(which he has plenty of good ones) as my main goal is to acquire the property and flip them to interested buyers should they not redeem. Personally I dont see them being redeemed on because they were from the scavenger sale. I am anticipating being able to sell these properties with plenty of equity in them to my buyers with the hopes that as long as I supply them they will keep buying them. Like the saying "Build it and they will come". Although this will work, the thought of obtaining a little interest money is appealing as well but I would like a seasoned experts opinion regarding investing strategies. I am new to the tax cert part of real estate, have done a crapload of research, but I dont want to bite off more than I can chew. I plan on investing about 40K to begin but would like to know what the experts think. Buy the certs from my guy or go to the sale myself. Whats the best way?Can someone with extensive experience give me some advice, as it would be greatly appreciated.
Thanks
Benny
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