Tax lien investing in parking spots/garages in condo communities

[Sandy Uhlmann]

I am a newbie to the tax lien investing arena. I have noticed several liens for purchase that are on parking spaces or garages in condo communities near prime (Florida) vacation areas. Are these liens that are likely to be redeemed? If they are not redeemed by the property owner, does the HOA step in in some manner or does it go to the tax deed sale in two years? If these go to the deed sale, is this actually something that would be purchased or is there some sort of messy HOA entanglement that would make this deed unattractive for an investor to purchase the deed at the sale?

I am just trying to figure out if this is, or is not a good tax lien to purchase.

[John Thedford]

@Sandy Uhlmann

Have you bid on tax lien certs in Florida? They start at 18% and go down. Quality desirable properties usually get lots of action. Properties with issues often go unpurchased and you can buy them straight from the county (tax lien certs). Making money in tax liens is usually difficult in this state. You can get much higher returns lending money. If you do purchase tax lien certs in Fl, you must hold it two years before you can force a sale. I cannot offer advice on the specific tax liens you question, but without a doubt I have found that private lending is much more lucrative than chasing tax lien certs in my state. There are MANY investors that end up with returns of 4% or 5% on their certs. You can do much better either buying rentals or doing loans.