Tax Sales

Anybody know where I can do research and be able to buy opportunities such as promissory notes, tax liens, etc. through the internet or some sort of source. I live in Hawaii and its too expensive out here for me to begin buying property so i figured I'd team up with others or get resources for liens, notes, etc where i can make a profit one point or another. Any feedback would help.

There can be a lot of potential profit as well as risk associated with properties sold at tax sales.

Here are some things to take into consideration when you are looking to invest in this area:

Evaluate the property types and make sure viable option for that area and desireable property type
What are the different uses for the property? does it have potential at surface value or would you have to chnage the zoning or something to make it a profitable property?
Are there any pending or outstanding EPA Issues listed on file and associated with that property?
Are there any Title Issues? What is currently outstanding as far as liens are concerned on this property?

Do you know about endorsements for tax lien certificates? An endorsement is the option extended to the previous year’s tax lien certificate holder to buy the current year’s lien on the same property prior to the tax lien sale. In some counties it is not an option, but a mandatory thing when you buy a tax lien certificate on a property that you are responsible for the next years taxes.

There are some potential benefits to the endorsement such as: There is no need to pay a premium, so you preserve a higher rate of return typically. the new endorsed tax lien certificate draws interest from endorsement date rather than from tax sale date.

has anyone out there (in the vast and deep forum) know of anyone who has ever bought a tax lien and made a decent profit? i think it would be enlightening to all of us.

andrew

I'm in this investment club (Since 1998) and thought I'd pass this prerecorded webinar along on buying tax deeds, the difference between tax deeds and tax lien states. Lots of good info, but he's taking this off today. WIsh I'd seen it earlier! Watch it for some valuable info!

http://landwebinar.com/marshallreplay/

I came upon a lovely townhouse on a lake the other day by accident. I have NO idea if it is up for sale for past due taxes or not. But the Trustee's Sale is next week. The paperwork originally started back in 2005. I tried to contact the company holding the paper but their phone is disconnected. The original price on the paper work is in the high $400k. It doesn't look in bad shape. Mostly cosmetic I think. This would be quite a steal. But as I said I know nothing about the bidding process and the auction is 4/21/10. Then of course I would have to quickly have to find the money. How low can I start to bid? What if no one shows up but me at the auction. Then what? I need some information and I need it quickly. I can check county records online right? Thanks.

Christina

I have obtained the forfeited tax list here in Greenville SC and I want to ask the forum "is there any body interested in purchasing through me from that list" is that considered advertising? I tried to ask this question to DGadmin but the system wouldn't except private messages.

So if this is against the rules please excuse my ignorance.

I'm new on here and I am interested in tax sales in the Philadelphia area lookin for information about how to get started.

A land bank is a public authority created to efficiently hold, manage and develop tax-foreclosed property.(1) Land banks act as a legal and financial mechanism to transform vacant, abandoned and tax-foreclosed property back to productive use. Generally, land banks are funded by local governments' budgets or the management and disposition of tax-foreclosed property.(2) In addition, a land bank is a powerful locational incentive, which encourages redevelopment in older communities that generally have little available land and neighborhoods that have been blighted by an out-migration of residents and businesses.(3) While a land bank provides short-term fiscal benefits, it can also act as a tool for planning long-term community development.

Hello DG Family!

I had just learned about a huge Tax Lien auction that just recently took place today here in San Diego, Ca. Apparently there was over $500,000.00 in total sales with 53 homes being purchased. Just imagine getting a few of those homes to turn around for Assignment on Contract or perhaps for holding!

Anyway, I thought everyone should know. By the way, they also annouced just now that an additional 60 homes will follow suit in the next 60-120 days. WOW that is really hot news!

Well if your interested, check it out here in San Diego website.

You know for sure I will be there buying a few!

Well that's it for now DG Family...until next time!

Tom