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Tax Lien Certificates


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Dolsos

...... You're taliing about something com

 

 

I assume you mean "completely different", but you said tax liens and these are real estate tax auctions, so not that different.  You didn't specify what kind of tax liens, if you didn't want real estate included you could have said so.  You also mentioned foreclosing on real estate which is what happens to delinquents in this case as well, so I'm not seeing where its "completely different".  

 

So you're looking to buy tax liens, but not for property, but you want it secured by property?  I'm not understanding.  Or are you looking to buy delinquent property taxes and just don't know how the process works at all?

 

Regardless its not a fool proof investment, invest at your own risk just like any other investment.  What works for one person won't work for others just because.

Edited by Dolsos
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tomaw

Look up tax lien certificates yourself on the internet. Look at the one from Wikapedia. While they may not be the best source for information they're at least objective since they aren't trying to sell you a book,cd or semenar like the others are. I myself am looking for information NOT giving it. I want to hear from someone that really knows about it and has invested in it themselves.

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Dolsos

Look up tax lien certificates yourself on the internet.

 

http://www.wikihow.com/Buy-a-Tax-Lien-Certificate

 

 

Call or go to each court house and ask the treasurer how foreclosures and tax defaults are handled . It varies per county. Some counties don't sell tax lien certificates; instead they sell tax deeds. Sometimes the process is very complex.

 

 

 

 

 

So again, I'm not seeing how its "completely different".  I googled a few companies who sell them online and from what I saw basically they have bought the liens at the tax auction and now want to resell it to others, which begs the question if its such a good moneymaker why would they be selling the lien?

 

As i said before maybe you'll make money doing it but if you do it in an area you're unfamiliar with and have to foreclose on it you could easilly be stuck with a property you can't unload or isn't worth anything.

 

Try it out and report back, seems noone else here has experience with it directly.

Edited by Dolsos
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tomaw

 

its not the stocks that advertise its the broker looking to get a cut from your buying just like the tax thing go to the city itself and ask no middleman

........ Your right but need to be educated first.
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tomaw

http://www.wikihow.com/Buy-a-Tax-Lien-Certificate

 

 

 

 

 

 

 

So again, I'm not seeing how its "completely different". I googled a few companies who sell them online and from what I saw basically they have bought the liens at the tax auction and now want to resell it to others, which begs the question if its such a good moneymaker why would they be selling the lien?

 

As i said before maybe you'll make money doing it but if you do it in an area you're unfamiliar with and have to foreclose on it you could easilly be stuck with a property you can't unload or isn't worth anything.

 

Try it out and report back, seems noone else here has experience with it directly.

....... As I read further there are risks but can be avoided by being educated in knowing what to look for. Also who or what is this ''they'' you are talking about? As Smokey said cut out the middle man and buy diect from the city government. As far as foreclosing and getting the property goes I read in different web sites that only about 5% get to that point. Edited by tomaw
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Davaoeno

........... Do you also feel that way about stocks, bonds, precious metals and real estate? Those things also advertise and look a lot riskier.

 

 

its your money , i certainly wouldnt want to to tell you how to invest it . 

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Monsoon

Ive done it in one state, in that state it is referred to as a 'tax deed'. Keep in mind its a long and sometimes arduous (i.e. expensive) process to complete an eviction process. Watch out for other lien holders who are also in line.

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tomaw

 

Ive done it in one state, in that state it is referred to as a 'tax deed'. Keep in mind its a long and sometimes arduous (i.e. expensive) process to complete an eviction process. Watch out for other lien holders who are also in line.

............ I'm glad to finally hear from someone who has actually done something! My state also has tax deed certificates. They are different than a tax lien certificate. The big difference is with a tax deed certificate you are going after the real estate property, with a tax lien certificate you're loaning money to help the owner save the property. Your talking foreclosure and eviction, the complete opposite of what a a tax lien certificate is for. Edited by tomaw
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tomaw

 

What does US Tax Lien Certificates have to do with the Philippines?

........... Nothing except that using a computer and the internet you can do this from anywhere in the world.
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Monsoon

............ I'm glad to finally hear from someone who has actually done something! My state also has tax deed certificates. They are different than a tax lien certificate. The big difference is with a tax deed certificate you are going after the real estate property, with a tax lien certificate you're loaning money to help the owner save the property. Your talking foreclosure and eviction, the complete opposite of what a a tax lien certificate is for.

 

But if they default on your loan and you need to collect on your lien you will find yourself in the foreclosure and eviction process...

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tomaw

 

But if they default on your loan and you need to collect on your lien you will find yourself in the foreclosure and eviction process...

.......... That's true. Once done though you own the property. Seldom does this happen though.
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smokey

if it seems to good to be true its usually not true... no easy ways to make money while hanging out in cebu 

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SirMadrigal

.......... The U.S.

Well first off you have to realize something, these tax liens are there because the home owner or investment group has not paid their property taxes in a very long time.

 

Therefore if you are wanting to purchase the lien itself and try to collect it is a lot like JDB (junk debt buying), it will be very difficult to collect on these liens and if you do you will spend a ton of time chasing these people down to get it.

 

Secondly, if the lien is large enough and the individual has lost the property in a foreclosure than they could alwyas file bankruptcy on you or fashion their finances in a matter to where you can not enforce the lien you have ownership of.

 

Much like a judgement, I know someone who has a $1mil USD judgement against a car dealer slicker than snot and the judgment is over 10 years old, recently renewed and this guy has not nor will he ever collect a dime on it.

 

Id say that you would be much better off investing in something else in my opinion, foreclosure real estate is drying up as well because the markets in the desireable areas of the states (note I said desireable) are starting to make some pretty significant recoveries.

 

Florida real estate was a virutal feeding frenzy about 4 years ago but now the foreclosures that are good deals are fewer and more far between and the profits to be made if you want to flip properly are not as good anymore.

 

If you are in SoCal there is still a booming rental real estate market from what I understand. I have little to no interest in anything real estate in the United States right now but *IF* it were my money and it was burning a hole in my pocket and I just had to do anything real estate it would be in Houston Texas for certain, that city is booming, busting at the seams and will be for quite some time.

 

Conversly, you could just become a lowly keyboard pounding peasant like myself and eek out a meager existence online.

Edited by SirMadrigal
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Brucewayne

Once again, I don't care if a person's EXPERIENCE with them was positive or negative but I would like to hear from somebody that has actually delt with them.

 

I haven't personally dealt with tax lien certificates, but did query two different counties, one in Missouri and one in Illinois about taking over a tax delinquent property.

In both cases, the Assessor said it was more trouble than it was worth, tons of red tape and running around if the tax isn't paid by the owner.

If the owner does pay, you still have to file a claim to receive your payment and there can be delays with that too.

My suggestion would be to go to your local court house or where you are interested in investing and talk to the tax assessor about this, as every state has different rules and laws regarding local tax delinquencies regarding real property.

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