Just Starting - Need Tax Lien Advice
I'm looking to get started buying tax liens in my area for a stable investment vehicle. I live in Madison County, Nebraska, a rural community by national standards, but it's the hub of commerce in my neck of the woods. I'm not sure if anyone in this area is aware of tax lien investing, either, literally. I asked the county treasurer about it and she asked me if I was seriously willing to pay someone else's taxes...
My state auctions are coming up March 1 and I'd like to start buying liens or deeds. Can someone please explain to me the process of an auction, in full...not just, bidding starts on the interest rate, etc. Also, is NE a deed state or not?? I've read that it is and I've read that it isn't. I am 21 years old and I plan to go into business for myself; thought this was a good way.
Also, assuming deeds are available in my state, am I correct in assuming that a lien is an investment that can possibly result in the acquisition of property; while a deed results in a purchase of property?
As I mentioned, I'm 21 and I have limited cash to get into this ($2,000). What is your usual discount rate on a deed purchase? By this I mean, do you get it for, say, 10 cents on the dollar (buyng a MV $20,000 property)? What's the neighborhood there?
Please use as few acronyms as possible as I am BRAND new. Thanks!
You may want to go to the nearest Real Estate Investor meeting to you. There are so many issues you are requesting answers for that everything could get jumbled up. Look in grops and see if their is one near you.
Good Luck
Lori
[addsig]
Go to ****Must Reach Freshman Investor status before posting URL's***... You can buy a book on this subject for 16.-17$ and it will tell you about tax liens all over the u.s. then you need to research the state you are interested in and make further enquiries from there.. it gives you all the phone numbers.a.
okay lets try that again. go to ****Must Reach Freshman Investor status before posting URL's*** for books on this subject. hopefully this will let me pos to you now. A.
okay the system doesn't get me and thinks i am a newbie. try amazon. A.
Ok then lets trim my Q's down to the basics:
My state auctions are coming up March 1 and I'd like to start buying liens or deeds. Can someone please explain to me the process of an auction, in full...not just, bidding starts on the interest rate, etc. Also, is NE a deed state or not?? I've read that it is and I've read that it isn't.