WANT TO LEARN TAX SALES?

We bought two tax liens last year, and have not yet received anything yet, about 6 months now. how long do we able to have money back and all. Thank you

I already know a lot about purchasing tax liens and properties themselves at tax sales, but I've never been able to do it due to a lack of funding. So, what can you, "Teach," me about obtaining the funds to purchase such?

A tax lien is a charge on a property for owed that have not been paid.
There are two things attached. Interest and redemption period.
the owner has until the redemption period to pay off the tax lien.
You get paid, when the lien is redeemed.
Or if they do not pay in the redemption time, you have the ability to foreclose on the home.
There is no guarantee with liens when they pay

Doesn't dean have a course on tax sales and
tax liens,deeds sale?I have been meaning to
look that up,it was mentioned at a seminar. Silverhound

I am very interested in buy tax liens and learning all I can about them.

Steve

i am very intersted i have a few books but i have yet to do a deal yet

Hello Coach,
I am also eager to learn!

Where do I start?

Hey Rick,
Unfortunately there is not really any way of obtain funds for deals unless you are able to get a partner or something along those lines.
Let me tell you exactly what I did.

When I started I did not have a lot of money either. So what I did was used the money I did have (about 2k) and I would purchased left over tax deeds instead. I would buy properties that did not sell at a deed auction. I would pay for it then own the property right away. For that amount of money I was only really getting land but I would target land that was flat, buildable and also something near houses.
I then specialized in selling land to the neighbors. So I would get some land for $600 and sell it to the neighbor for as much as I could but for example I would sell for 2k.

I built up money like that till I could do bigger deals.

So that is what I personally did to get around not having much money.

Yes, we do have a coarse on tax sale properties.
Do you know if you purchased that pkg? if not you can call Customer service and find out.

With tax liens
the go to source is the county & usually its the treasurer that handles tax sales.
Tax sales are there to collect county revenue, and that is the exact duties of the county treasurer, to collect revenue for the county.
So contacting some of your local county treasurers about tax sales, may give you something to start with locally.

A number of years ago, I became interested in learning tax liens/deeds. (I know, what haven't I been interested in learning about, right?)

I purchased several different courses on them. Most of them were junk! Some were even so bad that I returned them. Usually I don't even bother. I finally found an excellent one that was by a RE Attorney from TX named Darius Barazandeh.
I just googled and found this article by him that gives some great explanations. http://www.reiclub.com/articles/tax-liens-tax-deeds

I even went to TX for some of the sales and did my due diligence, etc. It was a great experience. Unluckily for me, the three props I had decided to bid on, the taxes were paid the morning of the sale. So, I went home disappointed.

I have let myself get rusty on them, so am very glad that you have started this thread, Eric. This is a subject that has been touched on a couple of times here but never given the attention that it deserves.

Karen

Texas has great opportunity for tax sales!
I've worked with many students in TX that have made good money in their tax sales.

http://tax.acttax.com/pls/sales/property_taxsales_pkg.search_page?PI_STA...

That is a link for TX tax auctions, and struck off (leftovers from previous auctions available to buy first come first serve)
The thing about TX is, you have to be there in person.
All auctions are public oral, even buying a struck off property, you need to be there in person.
That has been my hurdle in TX tax sales.

Yes, I'd like to learn whatever I can but I do have a question! If there is land owned by a county and it isn't purchased by investors is it your experience there is usually a reason why? I know that sounds like an obvious answer but I'm curious. I looked into one property owned by a county that was landlocked. I called the owner of the properties all around it to see if he'd be interested in buying it. He told me he created an easement on it a long time ago (due to conflicts with the owners which required anyone who owns that land to be responsible for maintaining the road which provides access to all the properties . A very sneaky yet brilliant strategy for him. So I guess that means the county has to maintain the road now since they own the land with the easement having tax claimed it.

Just curious about properties that aren't bought after they were claimed by the tax bureaus. Any knowledge you share is valuable on this to me and I'm sure many others here.

Thanks and I can't wait to read your posts.

Sheil

Thanks for this link!

The one that I flew in for was scheduled for a Tuesday after a three day w/e. So I had to fly in on Thursday evening, so I could spend the day on Friday at the Court House doing my due diligence before the sale. A lot of extra hotel bills and then they all paid their tax on my targets that morning. Bummer!

But I learned a lot! And found an incredible restaurant in Buffalo Gap, Perini Ranch Steakhouse, with the best BBQ EVER! And being a Southern girl living in SoCal, I take any opportunity to drink sweet tea! So the trip was still a success!

Karen

hahah Karen welcome to my life. I am always trying to do sales and I have more properties that I care to mention that redeem the day before or day of.
What I do to off set that now is I will contact the owners before the sale and try to negotiate before it gets to auction.

Has anyone bought a tax lien through SKW at a buying summit? and what was your experience thanks

Heather,

I'm here in the SoCal/LA area. Yes I bought a certificate from SKW. It took a while to get if funded from my SD-IRA. And since it's a lien certificate that has already has matured or passed the 6 month to 3 year period of not being allowed to contact the owner, I can pursue for foreclosure. That's the nice thing about getting them from SKW. It's a Jacksonville, Florida, property, which I just recently found out that it has multi-year delinquencies. Yes, it's probably now a REO. Being that it's a vacant land, it's probably not that hot in the radar of other investors that hold the other year's liens on it. It looks like I still have to go through Guardian Law to start pursuing the foreclosure process. Hope that helps. If you got more questions give me reply back on jmalahay at icloud dot com or five six too four won sicks fifty two hundred. Take care!
-john

You asked if there is usually a reason why some deeds get left over from the auction.
There could be many reasons it got left behind.
Whether there was to many properties to bid on at the auction & no one happened to bid on it, or it was indeed garbage etc etc. There isn't one usual answer for that.

I will say this, that leftovers aren't the "cream of the crop"
It does take searching, it does take researching, not every property is the best looking but fact is, I have seen & have purchased some killer left over deed deals.

Also timing is key. If you search a counties left over deeds 6 months after their auction, you probably wont find much or anything at all. Search the counties leftover as soon as their auction has ended & your chances of finding something good, is that much better.