TAX LIENS/TAX SALES

Tax lien or Tax Sales can be a good way to get a good return on your investment. However, every state is different for the waiting period. So you may want to contact a real estate attorney in your area that might be an expert on this subject. Also, see if you can review the state statue regarding property tax sales in your state that should provide the process in how the tax sale works.
Good Luck with these tax sales.

Carpe Diem~ Stacey :0)

i will do that to get a start, thanks

i also read that you can go to the county court house and purchase property at a great discount how does that work???

Hey Robert,

I am also in AZ.

I have been doing a little investigating in Tax liens in AZ. As I understand, you bid on the balance of the tax lien owed, meaning you pay the amount owed, but you are competing on the interest rate starting form 15% going down until the last bidder is willing to take the lowest % rate of interest. Then you hold on the property for 2 years before you are allowed to do anything with the property. Once the 2 years passes and the owner does not pay you the tax lean amount+ interest than you request ownership of home and and officially become owner of the property. I am not certain of all the details, but I thinks that is the basic understanding of it. If you find out more, please let me know.

Craig

Hey, what about that strategy that Dean gives in the first book about seeking out the owner, building rapport,e tc. getting them to sign the release?
I'm going to my first tax auction this month and would like to get one or two under my investing in real estate belt; see how it really works in my state.
Grady

hey thanks i forgot about that i do remember reading about them getting to sign for that. also In AZ i think they just do one auction in feb. do you all know if we have to wait every year to buy tax liens or we can during the year???

i called and registred to be able to bid but it looks like its just in feb. so it will be a while if thats the case.

I am 23, I have purchased a $549 dollar tax lien certificate on a lot near an amazing river valued at roughly $40,000 dollars. I would very much appreciate any advice you experienced fellow investors have to offer on what next steps to take. thanks in advance for taking time to help someone who is still wet behind the ears.

Please check out your local library for this book: Profit by Investing in Real Estate Tax Liens by Larry B. Loftis. It will tell you all about what, when and how in investing in tax liens. Good info.
There are tax lien and tax deed states. AZ is tax lien state. Statutory interest is 16%/annum. The bid method is bid down the interest (i.e., bidder with the lowest interest win the tax lien). Redemption period is 3 years.

Happy tax liens investing!

Thank you nttmk. I shall review this book you recommended, much appreciated! best of luck out there.

after you get a propert with a tax lien, try to get in touch with the old owner and see if you can work out a way to get them to turn over there interest in the property to you. It would cut down on the time to wait for the future investment or flip of the property.

once i have a tax lien if i dont want to wait for the redemption period and i get a hold of the owners and they turn it over to me do i get the property free and clear??? or do i just take over what was owed??? this is in arizona im asking for.

Q:"once i have a tax lien if i dont want to wait for the redemption period and i get a hold of the owners and they turn it over to me do i get the property free and clear??? or do i just take over what was owed??? this is in arizona im asking for."

A: Please note that about 90% of the time or more, tax liens will be redeemed by the property owner before the redemption period expires. If you owed only 1 or 2% of the value of your house, would you let go of your house for only that much?
In the unlikely case that the owner did not want to redeem the lien, you (as the lien holder) will have to contact the county treasurer to file for a tax deed sale, then you can bid at this tax deed sale for the house. There are several steps that the county has to do before the tax deed sale on the house can take place. But in short, this means you can NOT automatically get the house free and clear by simply negotiating with the property owner for just the amount of the lien.

At the tax deed sale bid if you win, then you can get the house free and clear but the price is probably much higher than the tax lien amount.

I hope this answers your questions somewhat. This is Arizona I am talking about BTW.

Cheers.

You guys are right Contact them owners they will help you get their property Cheap!But not in Florida It is against the law there!

Robert there is a thing called over the counter tax certificates! And you can buy them all through the mail! In another state!

Thanks for sharing Tax Lien/sales info. Important to know.

Sandra

Tax sales are tough and need a lot of research. Most States also give the property owner time to re-coup or get the property back. But they can be profitable. I have purchased some in Alabama but not Arizona.You can get a tax lien certificate and if the owner comes back and wants to get the property back they must pay you, if they don't show up in which ever states allotted time you get the property usually pretty cheap. Long process, but usually a good investment if your patient. Deans strategies are quicker.

The over the counter tax certificates, In what state would that be? Where would you get this information?

Blessings to your success, Lisa