Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Innovative Strategies
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 13 years ago on . Most recent reply

User Stats

717
Posts
50
Votes
Greg P.
  • Los Angeles, CA
50
Votes |
717
Posts

Buying Mansions for $10,000 through Liens? Harabourough county?

Greg P.
  • Los Angeles, CA
Posted

Hello, sorry if I'm spelling the county name wrong, but I read a article earlier this week (sorry I can't find it anymore) about a group of investors buying liens and association liens to buy properties for literally pennies on the dollar. I can't fathom this because we can't do it here where I live. Please advise.

Most Popular Reply

User Stats

3,269
Posts
2,367
Votes
Ann Bellamy
  • Lender
  • Tyngsboro, MA
2,367
Votes |
3,269
Posts
Ann Bellamy
  • Lender
  • Tyngsboro, MA
Replied

It sounds as if they are talking about buying tax liens. The Municipality that collects property taxes liens the property if the taxes aren't paid. If they need the revenue, they will sometimes sell the liens to investors. The investors collect the interest and can foreclose on the property subject to state laws.

Or sometimes, depending on state laws, the municipality forecloses on the property for back taxes, and then sells the deed.

There is a category here on BP about cash flows that includes tax lien info, and you can do a google search for tax liens and get lots of information. Then research the laws in your state to see if the strategy is feasible in your locale.

It's very state specific. For example, in New Hampshire, there is a statute that requires that the property can only go back to the government, not to a 3rd party.

Loading replies...