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Updated almost 2 years ago, 01/18/2023
Looking for creative strategy for tax lien/bankruptcy situation
Hi! I'm a fairly new investor (about a year in) and have been looking for deals off the mls, as the competition is still fierce in my market. There is a house on my street with elderly owners that came up on my foreclosure list...they have back taxes/a tax lien due to owing appx 30k in taxes. I initially avoided investing in the tax lien because I've read it's for more advanced investors. This was last spring, and now I see they filed for bankruptcy in the fall. My wheels are turning to figure out how to make this a win-win for both parties. I could offer to pay off the tax lien and they pay me back? Or I offer to buy the home, as this is a high tax neighborhood and I am not sure if they have any income? I am interested how other investors would approach the situation. Is there another strategy I should employ?