Offlinehello to everyone.... my name is omar and i am new to the entire tax auction investing strategy. i live in los angeles ca and would like to know what is the very first thing i should do/consider to get in on this game. i think that investing through tax auctions may be one of the cheapest ways to acquire property and that is what makes it more appealing. i have many questions and have gone through all the forums under tax sales but have noticed contradicting information. i have considered perhaps attending a rei club but dont know of any in my area nor if i will learn everything i need to know about tax sales or if attending one will be a good start. i know that these tax sales are held once a year according to what i have read here. i also understand that texas is the best state to apply this strategy due to its great returns on investment. can anyone who has already purchased property via tax auctions guide me through the process? or perhaps be my mentor? thanks for all the help. you can also send me a PM with any input/advise.
new to tax auction investing
Posted on: Thu, 01/06/2011 - 10:20
I suggest you start by investing in your own state. Every state has different procedures and it is vital that you know how the process works in the state in which you invest. California is a tax deed state. In the tax sale you are buying ownership of the property and can get possession as soon as the current tenants can be legally evicted. It still takes due diligence in determining whether the property offered for sale is a good investment. One consideration in buying tax sale properties at auction is that it is a cash purchase. You must have the cash or immediately available credit to buy the tax sale property. Start by checking with your local county tax collector. They can guide you to resources that explain the process used in your county/ state and if you have questions you may need legal advice to protect yourself.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Just a note to thinkbig1 about tax liens. Getting started in real estate by using tax liens is a good plan. Just be sure to do you due diligence and make sure the property is something you would be happy owning. Since most of these are listed by parcel number you will have to pull plat maps and such at the recorders office and visually inspect the property before you bid on the property. Otherwise you may end up with a property half covered with water during the wet months, or on the side of a steep hill, etc.
You will want to check to see if they sell tax liens over the counter at the assessor's office. If so, you might get some great deals for not much of an investment. Check them out.
Tax Liens can be very interesting, but require some work
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Omar will you make any money going from Cali. to Texas!I don't think so! But listen you are in the State that has 100s of 1000s of liens you can buy and get the land right away!Cali. has books and books of tax properties so go get you a few properties and fix them up and rent them out or try to sell them! You will be able to do it!It is sooooo easy! Trust me and if you need any help drop me a line!We are here to help each other!
Hey richf you are right about due diligence but you can now look up all those properties online right at the front door! But if you decide to get a tax property you should go and put your hands & eyes on it before you spend or send in your money!
Thanks, I agree you should always visit the property. The computer can do lots of the leg work we used to have to do. Take care.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125