Tax Lien ?? Vacant Lots??
I was looking at purchasing a tax lien for a property. Doing my due diligence I discovered that it was and empty corner lot. The neighborhood is fairly decent and a new home was built next door 2 years ago. Should i still pursue this lien or leave it alone and move on?
Thanks in advance
Ken
It depends on you. What do you hope to gain? What are you going to do with the lot if you get it. I am sure there are better liens out there. Just my $0.02
Is the lot big enough to build on? If so, I would absoulutely buy it. What are the lot values in the area. Find out and then decide on it. If you can make a decent return, why would you pass on it. If the lots are 20K, and you purchase the lien for 3K, sell for 15 and make 12K profit.. The buyer has purchaed the lot at a substantial discount. Not bad for a days work and the lot still has equity. You have to do the research to be sure!
Good Luck[ Edited by pejames on Date 01/14/2004 ]