Doing Tax Liens In N J
Hello to all. Is any one in this forum doing tax liens
in N J? I would like to get my feet wet in this arena.
But, I would like to be able to correspond with people
active in this in N J.
Thanks for your replys. [ Edited by cambana on Date 02/14/2005 ]
There are about a dozen or so "players" in NJ that, not unlike locusts, consume 99% of the decent, available liens. They come with truckloads of cash and bid down most of the liens to 0%.
I think that there are still opportunities in water and sewer tax liens, but for income purposes only. Redemption rates are high.
A good source is www.jer.com. You problably already know about it but teriffic for isolating potential deals.
Good Hunting
Joel
IF you are liquid and have funds something better than Tax liens is Private Investor Loans. You get First Lien Position on the property and collect a high interest only payment monthly for about a year. How can you beat a 12 - 13% return on your money every month.
For Texas the rate is 25% and it is a penalty, not interest. So for non-ag, non-homestead properties the prior owner has to pay 25% whether the day after the sale or the last day of redemption.
Just wondering where Muhlenberg NJ is?
Thanks for the quick reply Quidam, this is exactly the info I needed.
quidam is exactly right it depends on what you intend to do with the prop......km
NOt certain, but I think you can take the divorce papers in to title company and they will cleare up the issue for you. Give it a try.
This property is a vacant lot.
I am going to put a manufactured home on it and either rent it or sell it on contract. More than likely sell it.
Checking with a title company is a great idea. I should have already done that.
Steve[ Edited by SteveSch on Date 03/13/2005 ]