Beginning Tax Lien Investor
I am a beginning tax lien investor and I want to know where I can find some auctions in or near the las vegas area Thank You!!!
I am a beginning tax lien investor and I want to know where I can find some auctions in or near the las vegas area Thank You!!!
I've been trying a little in Mohave County, AZ, which is across the river from Laughlin. Not too far. Lots of online info. Also a novice, but I made a few bucks!
what types of sites would you recommend so I can find out a little bit more about these auctions, where they will be held, and info on tax lien investing
Hey Guys.. I am also a novice and my condition is worse than you too as I have only read couple of books till now and never purchased anything... My shortcoming is that I m in CA and i guess the bet for me would be AR.. Can you tell me where to get more information on what is available for sale in some place near to CA. Also is anyone of you aware if you can buy Tax Liens via mail.
appreciate you reply..
thanks alot in anticipation
Joe
Quote:
On 2004-12-09 15:50, soarabhgupta wrote:
"... Can you tell me where to get more information on what is available for sale in some place near to CA. Also is anyone of you aware if you can buy Tax Liens via mail...."
Joe
You might try "The 16% solution". It's somewhat out of date now but does have some basic information. Get it at your library or, if they don't own a copy, through inter-library loan.
Thanx for the quick reply sir,
Actually I have read this book "The 16 % Solution", actually this is the only book i have read apart for some research on interner. Can you tell me it is possible to buy TLC online.
thanx again
joe
Quote:
On 2004-12-10 03:52, soarabhgupta wrote:
Thanx for the quick reply sir,
Actually I have read this book "The 16 % Solution", actually this is the only book i have read apart for some research on interner. Can you tell me it is possible to buy TLC online.
thanx again
joe
Welcome to the tax sale game
I'm not sure where you can buy TLC online, but if you do find a site, before you do any buying, keep in mind that the Over-the-Counter sales are all from tax sales where nobody else bid on them. And most of the time, there's a reason why nobody else bid on them... Make sure to do your due diligence before purchasing any of these!
Thanx for the quick reply sir,
Actually I have read this book "The 16 % Solution", actually this is the only book i have read apart for some research on interner. Can you tell me it is possible to buy TLC online.
thanx again
joe
Some county's you can purchase online sounds like it is getting a bit more popular, Like a previous said they may be ones no one wanted. Usally they are auctioned in the courthouse in the county you are interested in. Depending on state interest varies between 13-18 % . Good Luck
Call the county clerk of court, ask them where the tax sales notices are published. You can usually go to the clerks and print the list and copy the research files.
If the sale is advanced enough - like you have a month's list ahead then try contacting the owners and see if they want to sell directly to you. You could make some great deals that way.
Otherwise, go to the sale and see.
I would recommend attending at least 2-3 without bidding. Just observe. A lot of times you can see a pattern. Also, a lot of times you can get good property at reasonable prices if you stay till the end when there is a long list.
Or try www.taxsales.com
Be very careful about contacting the property owners. This can get very tricky and leave you quite frusterated, from what I've learned.
Also, if you're looking for taxsales, you can check out www.taxsale.com.
Definitely attend one or two before bidding, it really helps to see how things work and I agree that if you stay towards the end of a long list your chances are better to get property because people leave for lunch sometimes and don't come back. But regardless, make sure you do your due diligence!
I've been doing alot of research on tax certificates over the past year. I know that Maricopa County here in AZ releases a book of Tax Certificates available for purchase, however, I am trying to find the opportunities before they go "public", so to speak. I do my own searches on the county sites. It is very time consuming, but from what I understand...It will give me a little edge over the competition because I'm getting information prior to the book being released. Does anyone else use this method for finding people who are delininquent on their taxes? Have you had any luck? Also, has anyone contacted property owners prior to an auction? What was your experience doing that?
TMoore
Simply outstanding, to get on edge on competition one needs to do research as most do not know how or even understand the value of it.
Marketing homeowners in a pre state does pay off, I do this on delinquent taxes, pending foreclosures and the list goes on.
I have paid off delinquent property taxes on behalf of my customers taking a note and filing a lien on the property and I normally charge less interest than the county penalty I also get notified of any pending foreclosure from other lien holders as this is the due process that is required.
I have never taken a property for the homeowner not making payments to me as most pay as agreed, but I have taken title due to their mortgage delinquency. I was notified by the lender of their intent to foreclosure and call the owner since I helped them before I simply make an offer to take over the property and most agree due to our relationship.
Let me give you an example of a note that just got paid off 12/04, the property owner was behind $847 in taxes and I offered to pay it off on the following terms.
Note and lien for $847 payable in 12 installments at 6% interest. My total return in 12 months $874.80. I know it does not sound like much, but it pay's better than the bank and gives me an in to more properties.
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