Over-the-counter / Assignable Liens?
I have contacted multiple counties in Florida, Colorado, and Arizona in regards to receiving their lists of county owned tax liens.
Some of the counties said they didn't have any, some wanted $50 for a list, one emailed me a list and others had lists online.
Of the lists I received I noticed two things. One, there were no property descriptions or addresses, just plat info (very confusing and hard to figure out). Two, the tax values were very low (most under 10k) with very small tax liens ($100+).
My guess is that none of these liens were for Single Family Residences.
My question is, how do you effectively find and buy over-the-counter tax liens on Single Family Residences?
Is it a timing thing? Like buying right after the auction? (I called Denver who just had thier auction in November and they said there are none left)
Is it knowing which counties or states have an over abundance of liens?
Help please! :-?
It's all about research, you have to due a basic title search to be sure of the property details and also the county value vs retail value are completely two different valuations.
I would suggest learning more about this form of investing before going forward as it does provide a great investment opportunity but does have several disadvantages if you are not a careful investor.
I like to deal with www.bid4assets.com.
Have a great 2005.
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btaylor52--GA---------------------------
Well, you are interested in the properties that everybody else wants. What are you going to do to make yourself competitive? How are you going to beat out the thousands of other investors, many of whom have been doing this for years and know how to be efficient?
Your chances of getting a valuable property through tax lien buying is extremely low, probably about 1 for ever 10,000 liens you buy. That is if you just buy randomly. If you do research on properties, you can drive that probability up. But that takes a lot of work and knowledge.
Good Investing***************Ron Starr*********
Thank you John Michael and Ron.
I am aware that tax value and retail value are different. But I am guessing that a lien with a tax value of 10k and face value of $100, is not a lien against a $150,000 single family residence home. Would you say that is a fair assumption?
The lists that I have from Flordia counties are 50 some odd pages of 10k tax value properties with a couple hundred dollar face values. As a new tax lien investor I would feel much better about investing in something that I am very familiar with (SFR's).
Even if there is extreme competition for SFRs I would be much more comfortable getting started against competition, than trying to delve into other types of properties that I don't have a clue about. I would just like to know when and how you have found is the best time to buy SFRs? Can you even buy them over-the-counter or do you usually have to buy them at the auction?
I am really not looking to to get a deed from a tax lien. I really am just interested in getting a return on the money I invest.
I know a lot of yahoo's get on this board and don't know what they are talking about, and I might be one of them, but I would really appreciate some clear cut expert advice.
Thank you.
Not necessarily, as the tax assessment may not be up to date yet and it is wise to research out each property.
I purchase tax lien paper often and the return has averaged out well and once and a while I get a property out of the deal. I was lucky enough to snag 5acres not to long ago with a double wide on a fixed foundation for just under $3,800 and it was listed as unimproved land.
Now this does not happen all the time and it is like looking for a needle in a haystack.
I will tell you that the SFR's go much higher than lots.
You should take a course or two to understand all the in's and out's of the game. I have a lot of fun with this form of investing.
You will not get rich, but the return is much better than a banks interest rate.
See:
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=547
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=314
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=211
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=79
Good luck and have a great New Year
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