Starting Out With Tax Liens.

[Adrian Williams]

Hello Biggerpockets my name is Adrian and I'm looking to start my investment career buying tax liens , I am currently going to school , working fulltime and have about 15k to invest. I was looking to buy tax liens in Missouri specifically Jackson County (County Kansas City is in). I have done some preliminary research on tax liens and read a book or to but I'm trying to figure out if 15k is enough to start investing in tax liens or would I just be wasting my time . I know quite a bit about home repair and maintenance and I'm extremely interested in eventually doing rehabs but seeing that I'm 18 and have relatively no credit at all and thanks to the credit reform act credit is even harder to come by if your under 21 now so I figured even though Kansas City has some really inexpensive homes when I add in rehab cost I would tie up most if not all my capital on 1 deal and I wouldn't see the return if I'm using the buy and hold strategy for quite some time. So I figured start out with tax liens and go from there . Also I never really tried to Wholesale thing & I'm not really interested in doing so rather buy and hold , while continuing to work full time. Any advice or information on tax liens would be great!

Thanks ! :D

[Ned Carey]

Wow, no replies yet. Even though this is an old post I will reply because no one else has yet.

Certainly $15K is enough to get started in tax liens. I bought my first two tax liens "over the counter". In other words leftover liens not bid on, so I got them at face value, about $3k a piece.

My first auction I had a budget of $17K. I now work with a budget of over 1/4 million dollars. However much of that is due to my expertise and partners working with me.

I don't know how competitive Jackson county is, however my guess is $15K is plenty to start if you are smart about it. Learn the rules and analyze what other bidders are doing. This is a game where the small guy can do very well by being smarter.