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8:14 am
April 7, 2009
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Windria
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Hi, guys, I'm not 100% how this works, but it sounds way too easy. You can buy tax liens for a few thousand dollars, and then the property becomes your? It sure is not that easy?
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3:32 pm
April 7, 2009
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DragonDust
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99% of the people purchase tax liens and get good return on their money since tax liens yield high interest rate, you rarely get to own the property on which you are holding the tax liens.
And in the rare cases when that happens, the property isn't worth that much, so turning $2000 into $200 000 dollars doesn't happen as often as you (and I for that matter) want.
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3:33 pm
April 7, 2009
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S_Johnson
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| posts 133 |
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The chances of you acquiring nice property are very slim, as slim as hitting the jackpot, but you can make good money in the long run.
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3:41 pm
April 7, 2009
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Josh
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Different states have different rules, and you should contact your county's tax office to find out how it works where you live.
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3:42 pm
April 7, 2009
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jozzy111
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If the Lien Holder (the town, or county government for example), has taken possession of the property and is willing to sell it for the amount of the outstanding lien (and they will see at much higher price if they can), then you might acquire the property.
But if you get there make sure that they all the any other liens on the property are cleared (mortgage, income tax, etc.).
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