Tax Liens Or Deeds In California?
Hello everyone - I'm still in the research stage of tax liens and tax deeds, but I feel pretty confident that this is the area I'd like to start investing in. I live in California, and wanted to get a general idea of this type of investing in California. If you've invested in tax liens or deeds in CA, what was/is your experience? Finally, can anyone recommend a book on tax liens/deeds in CA? I already have John Beck's Free and Clear package.
Thanks so much,
Priya
priya--(CA)--------------
I'd suggest you start off by reading some tax collector's websites. You will get some information. Many just parrot the information that the state controller's office sends them, so they will begin to look familiar very soon.
Then start reading the state statutes about collecting delinquent property taxes.
Then read my posts on the topic at these two websites:
http://www dot http://www.realestatelink.net/wwwboard/wwwboard dot shtml
and
http://realestateinvesting dot com/cgi-bin/general/index dot html#messages
Just replace the " dot " with "." wherever it shows up in those URLs
Good Investing***********Ron Starr***********
priya--(CA)--------------
I'd suggest you start off by reading some tax collector's websites. You will get some information. Many just parrot the information that the state controller's office sends them, so they will begin to look familiar very soon.
Then start reading the state statutes about collecting delinquent property taxes.
Then read my posts on the topic at these two websites:
http://www dot http://www.realestatelink.net/wwwboard/wwwboard dot shtml
and
http://realestateinvesting dot com/cgi-bin/general/index dot html#messages
Just replace the " dot " with "." wherever it shows up in those URLs
Good Investing***********Ron Starr***********
The only real advice I can add is that to do it properly you must really investigate each and every property that you select to bid.
I cannot think of an instant that I had not been to the property. that I did not match the legal either lot and tract or Metes and Bounds with a measurement. I always took a picture and thru the usual sources investigated ownerships etc.
When I show up at sale I have all the information required and I know what I am bidding on.
An Example:
I attended a tax sale and was amazed to see such active bidding on a parcel that I had examined and measured out the land. I had a copy of that measurement and a copy from the original deed and title report.
When the bidding stoped it was at $4,200. I went over to the happy winning bidder and I said to him. "Excuse me Alex, but would you like to buy for $5 a map of your property?" I sold him the map and left. I did not wish to see the look on his face when he found out that he had bid on a parcel of land that would never be built on and had no value. It was the Surveyors juggle of a plot of land that fell between two subdivisions. It was a Triangle and the size, One Foot by 18 inches by 14 inches.
The Buyer Alexander Salot experienced bidder did not do his homework.
Crazy world Lucius