I have gotten so many questions for our webinar tonight about how to invest in tax liens. We already have over 100 registrants for tonight?s webinar and expect that we?ll have close to 200 by the time we kick off tonight. I?ve got so many great questions from you already and I can?t wait to answer them. But I know that I may not get to answer all of them thoroughly on tonight?s call, so I wanted to give you an example of the type of questions that I will be answering tonight and answer a couple of these questions for you right now to save us some time and space on the live webinar.
Here is a list of a few of the questions that we have for tonight so far:
? What are the best areas to invest in tax deeds in the Northeast?
? What?s the easiest way to get started with a little bit of money?
? How can I find out if the property is occupied or vacant?
? Can I do this from outside the US?
? How can I get a final list of liens for sale days before the auction?
? Where can I get a Redeemable Deed for under $5000?
? Can you go over how to do due diligence on tax sale properties?
? If I buy a tax lien on a farm can I foreclose on it after the redemption period?
? How do I approach tax lien investing online?
? What are the best states for tax lien investing?
? I live in Virginia, a tax deed state. Would it be better to invest in tax liens online or should I go to a nearby tax lien state to invest in tax liens?
? How much do I need to start buying tax lien property?
? Can anyone invest in tax liens?
? How do find liens that have an expired redemption period?
? How can you identify properties that have a good chance of not redeeming?
? I became a member 2 months ago. There is so much information, how do I get started as a serious investor?
? How do I start this business without any cash? How can I get private money?
? Is there a service company that can buy tax liens for me? What does it cost?
? Will a bank loan me money to buy liens?
? Can a county sell a tax lien certificate on land that cannot be built on?
? What if the property owner goes bankrupt?
? How much money do you need to get started quickly and make a profit of $10K?
? How do tax liens work in California?
? I live in Iowa. Does it matter if I invest in the biggest county or a small county?
? I see there are several properties that you can buy online that are tax liens. Are they a good buy?
? Is there coaching available for tax lien investing?
? What is the average rate of return for tax liens?
? How can I get information on tax lien properties if I?m out of state?
? Do I need to set up an LLC in the US if I?m investing from Canada?
? Other than Comian and PIP West, what other companies do you recommend if we don?t want to do the work ourselves?
? How do you research city, state, and federal liens on the property?
? How soon does it take to be ready to invest?
? I live in a deed state, how do I invest in tax liens online?
? Once I purchase a tax lien, do I have to keep paying the subsequent taxes?
These are most but not all of the questions that I?ve received so far. They are the questions that I?ll be able to get to on tonight?s call. There was one very basic but very important question that I don?t want to take the time to answer tonight, though. I do want to answer it for you right now. That question is, ?What is a tax deed and what is the difference between a tax deed and a tax lien??
When you purchase a tax lien, you are not purchasing the property, but paying the taxes and recording a lien on the property. You do not have any rights to the property. The property owner has an obligation to satisfy your lien, which means they have to pay the amount of the liens plus the interest and penalties that have accrued at the time of redemption. If they do not satisfy the lien within the redemption period, which is specified by the state and sometimes by the county, then you can foreclose on property in order to satisfy your lien.
Some states do not sell tax liens, instead they will actually sell the property at a tax sale. They are known as tax deeds states and if you purchase a tax deed, you are actually purchasing the property. So that is the difference between a tax lien and tax deed.
Join me tonight for the answers to the other questions. There is no cost to register for the call and a replay will be provided to all registrants. So go ahead now to www.taxlienlady.com/WebinarTraining and register, even if you can’t make the live call.
Happy and Prosperous Investing,
Joanne
By Michael Maxie July 6, 2011 - 6:31 pm
I just have a quick question. I have tried looking all over the internet and can’t seem to find the answer. Anyhow, I live in Mobile, AL and I am looking into getting into investing in tax sales. My question is if a tax lien was sold to the state over 3 years ago, which is the redemption period here, if I were to purchase said lien would I automatically be able to get a tax deed or do I have to wait 3 years from the date it would be purchased by me?
Also if there is a mortgage on the property will it be gone once I get a marketable title after the tax lien redemption period is over?
By Joanne July 6, 2011 - 6:33 pm
You should be able to get the deed to the property since the state has already held the certificate for 3 years. In order to get the deed, notices will have to be made to the owner and any lienholders on the property, including any mortgage holders. If they do not pay off the lien, then you will own the property free and clear. You still may have to clear the title.
I am not an attorney, so check this information out with the county tax collector to make sure that it is correct.