OfflineTax liens certificates can be a great interest making machine. Tax liens are so safe that as long as you are getting properties with value there is no way you will not make money.
There are 2 scenarios with liens. Either you get your money plus interest back or you get the property!!
All a tax lien is money that is owed in taxes for a property that the owner has not paid for yet. How we invest is we pay for those taxes and then the county puts a lien in your name against the property. Which is also a 1st position lien! So you get paid or you get the property! what a great deal.
Right now the state of Florida is having auctions going on and once they are over they will release a list of left over tax liens that were not sold. At this point all we have to do is find a property we like and purchase it from the county. It is one of the easiest ways to pick these liens up that you will ever have.
In the state of Florida the interest rate is 18% per annum which is 1.5% per month. However the best thing about Florida is that you have to make 5% no matter what happens. So if the owner pays you back within the 3 months of buying the lien you will make 5%. I have made 5% in 1 month several times!! You might be able to make anywhere from 18%-30% on your investments in the state of Florida.
Good luck everyone. happy investing.
Great Post Eric!
I have invested in Tax lien certificates throughout the county & hands down my favorite state to invest in is FL!
I have made a quick 5% many times there.
One thing I really like about FL is it is a state where you actually dont foreclose on the property, if the tax lien passes its redemption period, the property will go to the counties tax deed auction & it will sell there thus the taxes are paid for and your redeemed.
These liens really seem like they are a no risk investment. I'm glad you guys have such good experience doing these. I'm like a sponge soaking up your knowledge on how to do them. I plan on purchasing some of their left over liens there.
Thanks for your posts, I look forward to reading more
Mikessler
Work smarter not harder
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Hi guys!
My wife and I are planning on getting into the tax lien arena this fall. So far we've research just Maricopa County, but it sounds like FL can be a good place for tax lien.
Thanks!
Matt Inomata
Seattle Moo
Hi Eric -
We purchased one tax lien at Dean's Buying Summit this past August but that's the extent of my knowledge in regards to tax liens.
I have two questions for you (or anyone):
1 - Is there a particular county for the upcoming auction? Or is it the entire state? Is there a website you could point us toward or direct message to me?
2- Should we be most interested in the leftover liens that were not sold during auction? Or, participating in the actual auction?
Thanks in advance!
Kristin
TIME = WEALTH = FREEDOM
Live STONG & Live with PASSION
Thanks Hconterio for the great information about tax liens. I have been thinking about getting into this area of real estate for quite a while but have always lacked the knowledge to do it. Would you be willing to share your knowledge with me and give me some pointers.
Hi, Kristin!
I saw your posting and thought I'd share what I know with you and other DG family members.
Each county does their own tax sales, so it could be already done for the year, or it could be this month or next, etc. At this point I do know that Maricopa Co, AZ is doing theirs this fall. Maricopa Co has Phoenix. Also, depending on which county you target, you may have to be physically present at the time of the auction (or someone that represents you), or you may be able to bid on line from the comfort of your home.
Where my wife and I invest right now (Indiana), you have to be physically present at their auction site to bid. So, we have our rep do this for us.
Though there could be some gem hidden in the left over bucket, I would be even more cautious because probably there are reasons why they are left overs.
I think my wife has some information on this website that has a summary of all the states and links to all of their counties. Let me try to get that information.
Matt Inomata
Seattle Moo
Hi, Kristin, good Sunday morning!
Here's the link to the web site I promised yesterday.
http://www.tax-lien-certificates.com/
On the left is a list of all 50 states plus the D.C. Click on the states of your interest, and you will see a whole bunch of counties.
This is a great site to have in your tool box, especially when you are trying to decide which state/county you want to buy liens in.
Enjoy!
Matt Inomata
Bothell, WA
Each state has their own rules for when they do their auctions. Some only have them once a year, some are biannually and some happen every month.
for example I live in UT and every single county in my state is going to do the auction on the 3rd Thursday in May. Do not ask my why they do that. It is dumb because I can only attend one maybe two a year here.
So it depends on where your at as to when they will have a sale.
AZ is a good state and actually Maricopa will not have an auction again until Jan-Feb. AZ has their sales every year in Jan-Feb and if things to not get purchased then you can buy them over the counter.
Both auctions and over the counter are good. I do both.
With the auctions you will have more of a selection but also more competition. If you buy them over the counter you will still get good properties but you will have to dig through the list a little more to find the good ones. The over the counters will not have a lot of competition and generally are easier.
let me know if you have anymore questions
I went to one of the Live events in my area, and they were talking about Tax Liens! I was excited, granted I couldn't move forward with the program just yet financially...but I see the potential in Tax Lien investing.
Together, we can be successful!
Well I am glad you were interested. Tax liens are great safe investment. Granted we do need money to buy them, but they are the easiest, cheapest and fastest way to start calling yourself an investor.
There are many liens you can purchase for several hundred dollars and up.
happy investing