Real Estate Agent · Los Angeles, CA · Member since 2019 · 25 posts · 0 votes
I’m looking for a state to invest in tax liens. I currently invest in Tax Deeds in LA county but wanted to add tax lien investing in other states.
I’m new and hoping I can find a state/county that sells them more than once a year, with 16% or higher interest. This is my first time looking to invest out of state. Any other suggestions/tips are appreciated.
Real Estate Agent · Los Angeles, CA · Member since 2019 · 25 posts · 0 votes
6y
@Jermaine Chad Ingram I look into Texas to see it’s a tax Redeemable state which seems like a tax deed state. I’m looking for a tax lien state. Is there something I’ve got wrong?
Real Estate Agent · Fort Pierce, FL · Member since 2019 · 257 posts · 105 votes
6y
@David Petikyan Florida May be more the speed of youre looking for. I invest in Florida. I thought you were looking for tax deeds to acquire properties
Real Estate Agent · Los Angeles, CA · Member since 2019 · 25 posts · 0 votes
6y
@Jermaine Chad Ingram this is what I was able to find through some research of states selling liens monthly. There are ones being held yearly with a higher return on investment. I just wanted to find a monthly one to possibly try it out fast and look into it some more.
Ohio: 18% interest. Held monthly/varies 1 yr period
Flipper/Rehabber · Medford, NJ · Member since 2018 · 4 posts · 1 vote
6y
@David Petikyan
There is no “best” states. It depends what you’re looking for.. redemption interest or are you targeting reo. Also you should expect to do tons of due diligence prior to each sale, of which most property will redeem prior to the sale.
Your first step should be to speak with attorneys in the states you want to target. Ask what the redemption period is. Ask what the foreclosure process is. Ask how to get a clear marketable title, and typical costs associated with it. Ask about sale fees, how do you pay the sub taxes.
Find out what the county needs for registration.
Are the sales held live or in person.
In most states you will never earn the maximum interest rate, and if you do an experienced bidders are in the room you should consider that a red flag. Expect all bid down interest states to go at low rates, expect to pay premiums in premium states.
In FL just about every residential property gets bid to .25% by multiple bidders. Eventual winner will get the state min interest rate of 5% penal.
Real Estate Agent · Los Angeles, CA · Member since 2019 · 25 posts · 0 votes
6y
@Steven Brown I actually found exactly what I was looking for with further research last night. There’s a website that a lot of counties hold their tax lien sales. It’s realtaxlien.com it shows all the information you need to know, which are active, and can buy them directly from the site. It’s actually a lot simpler than most would expect.