Have you thought about a California timeshare?
The State of California has a lot of online tax deed sales. The problem is that California tax sales are extremely competitive. Although the bidding starts at back taxes – it usually gets bid up close to market value. That’s because the real estate market in California has been soaring. So much so that many California residents have left the state for Nevada or Arizona, just to find an affordable place to live. When prices rise like that, investors are willing to pay more for houses, because they know that prices are increasing. The bottom line is that you need a lot of money to buy a single-family house at a tax sale in California.
But what a lot of people don’t know is that some California counties have a lot of timeshares in their tax sales. In fact, some counties will have special tax sales just for timeshares! The bidding on these timeshares is less competitive than the bidding on single-family houses, and the opening bid is also usually much lower.
Riverside County has a timeshare tax sale at least once a year. Bidding in their last sale started as low as $2,111. Since the opening bids are lower in this sale, the deposit that you need to register is also lower – only $800 as opposed to the $5000 required deposit in many of the other California counties. There is also a $35 non-refundable fee that you will need to submit along with your deposit in order to register. Other counties have timeshares in their regular tax sales.
Learn more about how you can participate in California and other online tax deed auctions from the Online Tax Deed Sales course.
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