TLC In BC
Hey all, I am learning so much after stumbling onto this website merely a week ago. Thanks for all the great insight.
My questions are general in nature, and pertain to the great Province of British Columbia. I understand that all tax sales (except City of Vancouver) are governed by statute...even to the point where the state the Annual Tax Sale date/time. Does anyone have any idea on generally how the process works here, if indeed there are many properties to bid on and what advice you would give a newbie REI'er?
Are there more effective methods of REI here? It seems like tax liens are the safest investment for your buck, because of the collateral...I understand that City of Victoria, for example, last year paid 8% to the purchaser on redemptions.
Any help would be much appreciated.
Whew, Canada and beyond is beyond me. Good luck on your research.
Why not buy tax liens just like you would buy stocks and bonds? Through a tax lien company.
[addsig]
hi. being a newbie myself I don't have a lot of info to give. but this i my neck of the woods. from what i've discovered, taxes have to be deliquent for 3 years before it goes to sale. (usually around sept-nov). the person has a year to redeem. by the sounds of it, everyone redeems, but that doesn't stop investors for locking in at 7-9% intrest. i don't blame them. if your intrested, look up a couple of cities and the words tax sale, and you'll get a couple of city pages telling you the dates and times. hope this helps. if not, e-mail me, and I'll give you some sites around my area