Anyone Familiar with Tax Sale Info?

I have some experience with tax sales. I don't think you can put a renter in there until you actually own the property, the owner can still pay the taxes, which would still be a good thing for you especially at 20%!!I would suggest taking a trip down to your tax assessors office with a bunch of questions. Because each state is different, I could tell you something that works in my state but not in yours. But tax liens are a GREAT way to buy property, or make a good return on your money, as long as the value is there that is.
Good luck and God bless!

Elena. I'll definitely look into it further. One thing that I've read was "Georgia offers a redemption fee to investors of 20%, if redeemed within one year. If the property owner redeems in one month, your effective annual interest rate is a stunning 240%." This was on the Rogue Investor website. Can't quite figure out how that breaks down though. Anyway, I suppose if nothing else, it's a much better annual interest rate than a savings account!

That's a MUCH better interest rate than any bank will give you, that's why I said either way it's a good deal!! Now go get 10 more... LOL!

point!, they DO make it worth your while NO MATTER WHAT!, you'll never see that kind of return in savings, or most CD's if NOT ALL, PLUS, you have that chance of getting a property FREE & CLEAR for pennies on the dollar!

While dealing with realtors this week, I asked about tax sales in the area. They said, in thier experience, they rarely see propery lost through tax sales.

Regardless, I will add tax sales to my search!

Thanks again.
Regards, Rohn
DeJor Properties, LLC

Thanx ECC Investments for this timely post

As Elena points out, the rules may change from state to state...BUT do the questions remain the same?

Sully, good call on the concept and thanx DeJor for reminding me that "thinking outside the box" often means folks may say things like: "That NEVER/RARELY happens here"

or...is there a website that then does this type of research state by state?

around on the internet and I have found several sites that supposedly compile lists by state for a fee. I have a list of several so far (but not sure if it's against the rules to share that??). I haven't signed up for anything yet, as the fees vary GREATLY from $19.95/year, to over $300 and everywhere in between. One was even $10/per week. There is one that I found where you can just buy a list for specific counties, and that ranges based on how many prop.s are on the list. Anyway, I'm thinking of trying out that one, or the $20 dollar one. If the lists are legit, it will be worth it for me just because gas is so high! I will let you all know what I find.

Sharing information isn't against the rules. As far as I know... LOL! If you want to learn about the rules read the website rules post so you'll know exactly what is and isn't allowed. Let us know how you make out with the list.
Thanks for sharing with us too, we appreciate it!!

for the information. I reside in Georgia (Gwinnett County) as well and been reading up on Tax Sales. There's a Guy that I know that has been investing for over 20 yrs. One of the many areas he specializes in is Tax Sales. I will be meeting with him this week, so I will be happy to share with you any information. You know while reading DG's Book, he spoke about an Article 15 and having your lawyer draft one up. This can be used if you do not want to wait the whole year of the redemption period. You can just find and contact the owners. If they don't want the property, you and our attorney can go to the owners have them sign the Article 15 and the property is your instantly, instead of waiting. DG was saying this information for NY. It may be the same for GA, but we'll just have to ask and find out.

Hi Emily,

I too would be interested in receiving information about Tax Sales lists. I live on Long Island, NY (1 hour west of NYC) and I do not see too many tax liens. Do any of the sites allow you to do a prelimaary or trial run?

Thank you & God Bless,

I would also be interested if you could share the information regarding your contact who specialized in Tax Sales. I live on Long Island, NY (1 hr west of NYC) and wondering if he has information regarding my area including upstate NY or if he has contacts in my area.

Thank you & have a Blessed Day!

ECC, I concur with ReikiMaster and if the site you choose allows a trial run or the ability to tell others, please post as I would LOVE to have that kind of info for OH/WV...thanx!

a internet web site that lists TAX SALE properties available for the up coming TAX SALE? because, i was able to get that info for FREE where i live, my county web site directed me to thier "partner web site"

If you are in a Tax Deed state, there will be a Right to Redemption period. Meaning the property owner has the right to pay back taxes, interest, etc. But usually in a Tax Deed auction, the property owner will not come back to purchase the property. Once they go thru a tax foreclosure it will show on their credit report, meaning they will have a hard time getting financing. In my opinion, you could rent it, but I wouldn't add any big improvement until the redemption period is over.

OK people. I KNOW I posted a list of tax sale sites, but I don't see it. I'll try to redo it tomorrow night. But if I put it somewhere else, somebody let me know please! I might be going crazy - there's always the possibility!

I must've missed it, I didn't see it either. Sorry about that. I doubt you're going crazy, you seem pretty level headed to me, so far that is.
Thanks for all the great resources you've shared with all of us, we really appreciate it!
Continued blessings,

I have an unusual question. I live in GA where there are tax sales every month and posted in the newspaper for our county several weeks prior to the sale. A lot of those properties do not end up being sold at the sale, I guess because the delinquencies get paid.

My question is, can someone go to the owner once the sale is posted and offer to pay the deliquency for them plus a small amount of cash if they will transfer the property to you. Then you could save them the foreclosure credit issue, rent the property back to them (they will have to live somewhere)and you don't run the risk of losing the bid, etc. at a sale.

I told you it was an unusual question. Just thinking on paper here.

Jan

Jan, You can try anything in real estate investing. Determining what owner can pay their back taxes or not, is the question. You would still have to make contact with them but paying their back taxes and what is owed on the loan will be the question. If it hasn't gone thru an auction yet, their mortgage is still in place.

that actually would be a great idea, you may end up finding a deal that you would have never found if you would have just followed the crowd

So, obviously my idea may have merit. Like you said, pjacobs, finding the right ones is the key. I, of course, am hoping to find some properties that are owned "free and clear" and still up for tax sale (there are actually a few of those out there). Those are the ones that can be picked up ahead of time and maybe rented back to the owners or occupants.

I guess I also need to check into whether once I get the bid, do I have the right to rent it back, or are they in possession of the property for the next 12 mo. while they have the opportunity to get their property back.

Still thinking out loud on paper. Comments welcome.

i'll check into it for you, you CANNOT rent, or sell or do anything for that matter until the "RIGHT OF REDEMPTION" peroid is up, now it depends what state you live in on the amount time the "owner" has, if it's 12 months for your state, then for 12 months you can't do a thing. (but wait)

You may not rent out the property until you have legal control of the property.
Tom

In your state, are you a Tax Deed state or Tax Lien Cert. state? If you are looking for deals, I would concentrate doing Tax Lien Cert. in a state that has them. One of the coaching in my office bot 2 Cert. one year ago. They were vacant when he drove by them before auction. The year is now up, no one came forward and the county gave him the deed for only the tax he paid. Since Tax Liens and Deeds are the number one lien (government) they over shadow any other mortgages. May be some food for thought.

Okay I am a little confused what is the different between deed or cert state?

state. In a tax deed state you are actually bidding on the property. In a lien certificate state you are becoming the lien holder. You are paying the back taxes. In most states the tax lien becomes the first lien on the property.

I need clarification on the difference too - were you about to tell us?

I see now. For some reason your post was blank when I looked at it the first time.

There are Investment Companies that you can invest with that buy and sell tax lien certificates. This is what they do: Your funds are NOT pooled with other clients' funds. Each investor will have the certificates purchased and recorded in their name only. Furthermore,each investor has control over monitoring the county's activities in regard to that indididual prperty. The county will communicate with each investor and alert them as to when they have either made the interest on the tax lien or when that tax lien has matured into a dax deed and ownership of the property.

Do not forget that you can use tax deferred funds like an IRA, 4019k), SEP or Keogh to invest in tax lien certificates. Check with your accountant.

I'm researching right now after getting on the mailing list of state's tax collectors office; there are properties ALL over the state, except in my country!!!????strange. what am I to make of this? they do quarterly publishings. I only want to focus on tax lien certificates and only on those properties that have gone through the auction and didn't sell; they accept any bid.
grady