You’ve probably heard the hype, “you can buy a houses for pennies on the dollar with tax liens or tax deeds.” And you probably know by now that isn’t really true. Yes you can still buy land that nobody wants for pennies on the dollar at a tax sale, but a house – hardly. Tax deed sales are so competitive in most parts of the country that you can’t even purchase a home for the back taxes owed due to the fact the property is bid up at the tax sale.
And if you thought you buy a tax lien for only a few hundred dollars and then get the deed to the property – think again. In most areas of the country more than 90% of liens on purchased on decent houses will redeem, so you will get interest on your investment, but getting the property is not likely. Some people think that if they get the left over liens that are almost ready to foreclose they will have a much better chance of getting the deed to the property. The problem with this is that there is usually not anything good left over for that long. By the time the redemption period is almost over other investors have already picked over all the good properties on the left-over list.
But there is a way you can increase your chances considerably to getting a tax lien property that you can foreclose on get the property. I’m not talking about house for pennies on the dollar here, but I am talking about getting a residential property for dimes on the dollar. Interested? Some investors only want the interest that they get from investing in tax liens, they don’t want the property. So when the property is ready to foreclose, rather than start the foreclosure process and take a chance of having to own a property that they don’t want, they would rather sell the lien to another investor. It is possible to pick up a secondary tax lien, from an investor that is ready to foreclose as soon as you purchase it.
So you can spend a few thousand dollars and purchase a lien on a house that is worth $100 thousand dollars or more. You will have to go through the foreclosure process, which can take some time and a little more money, but it is well worth the effort is owning property for little consideration is your goal. So where do you find these liens? Tax lien investing agent Platinum Investment Properties – West has a ton of REALLY GOOD liens that a lot of their clients are passing on the opportunity to foreclose on (they are interested in the interest, not the properties). Investors can pick these up for a few thousand a piece and they are ready to be foreclosed on NOW. They also offer the new buyers their turnkey services through their sister company; Platinum Investment Properties – East.
Find out more about this opportunity to purchase liens that are ready to foreclose on now on our next complimentary webinar, Wednesday March 27, at 8:30 pm Eastern Time. You can register for this free webinar at www.TaxLienLady.com/WebinarTraining. Charles Sells from PIP-West will be presenting at the 2013 Spring Tax Lien Investing Workshop & Conference along with me and he will be showing some tax liens that are available for investors to purchase at the conference. Don’t miss out on the opportunity to join us on April 26 in Baltimore Maryland for the only Tax Lien Investing of it’s kind on the East Coast. Find out more and register at www.TaxLienLady.com/conference.
See you there!
Joanne
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