South Carolina tax sales are unique. South Carolina is considered a redeemable deed state, but it is looked upon by some investors that invest there as a tax lien state. That’s because unlike the redeemable deed state of Texas, in SC you are not issued a deed until the redemption period is over. The interest rate earned on these SC tax liens (or redeemable deeds depending on how you look at it) is 12% per year which is actually applied as a 3% penalty every quarter. The price of the lien is bid up from the opening bid, which consists of back taxes and penalties. The penalty is paid on the full bid amount with the caveat that the penalty amount paid to the investor cannot exceed the opening bid.
To hear an example of how this works and to learn more about South Carolina tax sales, listen to my latest podcast on iTunes below. You’ll want to listen now because some South Carolina tax sales are coming up the first week in November. In this podcast I’m interviewing Jeff Frantz from Tax Title Services and you’ll also learn how you can clear the title to your tax foreclosed properties. Enjoy!
The REI Expo is back to the east coast and so is our 1 day tax lien investing seminar. Come to the REI Expo at reduced cost on Friday October 9th and Saturday October 10th, and then join me and other tax lien investing experts on Sunday afternoon for a one day tax lien investing seminar for free!
Early Bird tickets to the Expo are $125 and $175 at the door. If you reserve with us, your tickets are only $100 AND we will give you an additional REFUND of $25 just for attending our bonus day on Sunday!! Continue reading
I recently attended a tax New Jersey tax sale. There were only 5 properties in the sale down from 15 on the original tax sale list. Last year at this sale I came away with one decent lien. This year I didn’t get anything at this tax sale. So I decided to do a tax lien deal analysis of some of the liens in this sale to see if investing in New Jersey is getting too competitive for investors to make a profit. Continue reading
If you you’re going to bid at Pennsylvania tax sales you need to be aware of the different types of deed sales that are conducted in the Commonwealth. Many Pennsylvania counties have two different tax sales that are live auctions; the “upset” sale, and the “judicial” sale. If tax sale properties are not sold at either of these two sales, the property then goes on the “repository” list and can be sold by private bid. Continue reading