Is anyone buying Tax liens/Tax Deeds here?
Member since 2022 · 6 posts · 4 votes
Is anyone buying Tax liens/Tax Deeds here?
Most Popular Reply
John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votesQuote from @Enda Hoolmaa:
Quote from @John Underwood:
Quote from @Enda Hoolmaa:
Hi Hunter,
I have registered with a few counties and am considdering flying to Texas to see the properties before bidding. Iv'e researched the tax arrers, google street view, zillo market price and other leans/exemptions on the properties already. I was wondering if there was a community doing this through bigger pockets or am I alone in the wild?
Nothing through BP that I have ever heard of. Many people on BP are doing it independently.
Absolutely drive by any property you are considering bidding on. Update your list right before and daily when doing your driving to minimize driving by properties that have recently redeemed.
Hi John,
I see you've been Tax lien investing fot a while now. Is there a living in it?
My wife was a manager at the hospital. I was an Electrical engineer.
We quit our jobs and have gone into early retirement from W-2 jobs due to the houses I have acquired cheaply for cash from tax sales. Most of these are now rental houses now.
So yes there is a living in it.
13 Replies
- New to Real Estate · Texas Christian University · Member since 2022 · 119 posts · 56 votes3y
Enda, in order to find Tax Deeded properties you have to find them yourself. Drive around or use google maps and input the property addresses into the county's real estate property search. Once you enter the real estate address into your county's real estate property search find the tax data on the property. This will show if the current owner is behind on tax payments. Next, you'll need to see when your county is selling the tax deed. Hope this helps.
- Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes3y
@Enda Hoolmaa actually ther are a lot of conversations here about both tax liens and tax deeds. Look for conversations by @Denise Evans @John Underwood among others. I write a lot about tax liens.
It is very imprtant to know the specific laws in the state you are buying. It is not always as simple as you buy the tax deed and you now own the house and can do anything you want with it.
- 3yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Quote from @Ned Carey:
@Enda Hoolmaa actually ther are a lot of conversations here about both tax liens and tax deeds. Look for conversations by @Denise Evans @John Underwood among others. I write a lot about tax liens.
It is very imprtant to know the specific laws in the state you are buying. It is not always as simple as you buy the tax deed and you now own the house and can do anything you want with it.
There are a lot of conversations on BP about tax liens. Use the search function and see what I'm talking about.
- Member since 2022 · 6 posts · 4 votes3y
Hi Hunter,
I have registered with a few counties and am considdering flying to Texas to see the properties before bidding. Iv'e researched the tax arrers, google street view, zillo market price and other leans/exemptions on the properties already. I was wondering if there was a community doing this through bigger pockets or am I alone in the wild?
- Member since 2022 · 6 posts · 4 votes3y
Quote from @Ned Carey:
@Enda Hoolmaa actually ther are a lot of conversations here about both tax liens and tax deeds. Look for conversations by @Denise Evans @John Underwood among others. I write a lot about tax liens.
It is very imprtant to know the specific laws in the state you are buying. It is not always as simple as you buy the tax deed and you now own the house and can do anything you want with it.
Hi @Ned Carey
Yes, Im starting out and have consumed about as much free info as I can at this stage. Iv'e lined up a few properties so my next steps are to attend an auction online for the first one and see what's actually happening, how much the properties get bid up etc. Just wanted to see who else was out there!
- 3yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Quote from @Enda Hoolmaa:
Hi Hunter,
I have registered with a few counties and am considdering flying to Texas to see the properties before bidding. Iv'e researched the tax arrers, google street view, zillo market price and other leans/exemptions on the properties already. I was wondering if there was a community doing this through bigger pockets or am I alone in the wild?
Nothing through BP that I have ever heard of. Many people on BP are doing it independently.
Absolutely drive by any property you are considering bidding on. Update your list right before and daily when doing your driving to minimize driving by properties that have recently redeemed.
- Rockwall, TX · Member since 2014 · 380 posts · 211 votes3y
Quote from @Enda Hoolmaa:
Hi Hunter,
I have registered with a few counties and am considdering flying to Texas to see the properties before bidding. Iv'e researched the tax arrers, google street view, zillo market price and other leans/exemptions on the properties already. I was wondering if there was a community doing this through bigger pockets or am I alone in the wild?
Hi Edna, Texas is a great place for Tax Deed investing. Arnie at txtaxsales dot com is the expert. He has some programs to help remote investors.
What would you like to see in a BP group for this?
- Member since 2022 · 6 posts · 4 votes3y
Quote from @John Underwood:
Quote from @Enda Hoolmaa:
Hi Hunter,
I have registered with a few counties and am considdering flying to Texas to see the properties before bidding. Iv'e researched the tax arrers, google street view, zillo market price and other leans/exemptions on the properties already. I was wondering if there was a community doing this through bigger pockets or am I alone in the wild?
Nothing through BP that I have ever heard of. Many people on BP are doing it independently.
Absolutely drive by any property you are considering bidding on. Update your list right before and daily when doing your driving to minimize driving by properties that have recently redeemed.
Hi John,
I see you've been Tax lien investing fot a while now. Is there a living in it?
- 3yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
Quote from @Enda Hoolmaa:
Quote from @John Underwood:
Quote from @Enda Hoolmaa:
Hi Hunter,
I have registered with a few counties and am considdering flying to Texas to see the properties before bidding. Iv'e researched the tax arrers, google street view, zillo market price and other leans/exemptions on the properties already. I was wondering if there was a community doing this through bigger pockets or am I alone in the wild?
Nothing through BP that I have ever heard of. Many people on BP are doing it independently.
Absolutely drive by any property you are considering bidding on. Update your list right before and daily when doing your driving to minimize driving by properties that have recently redeemed.
Hi John,
I see you've been Tax lien investing fot a while now. Is there a living in it?
My wife was a manager at the hospital. I was an Electrical engineer.
We quit our jobs and have gone into early retirement from W-2 jobs due to the houses I have acquired cheaply for cash from tax sales. Most of these are now rental houses now.
So yes there is a living in it.
- 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @John Underwood:
Quote from @Enda Hoolmaa:
Quote from @John Underwood:
Quote from @Enda Hoolmaa:
Hi Hunter,
I have registered with a few counties and am considdering flying to Texas to see the properties before bidding. Iv'e researched the tax arrers, google street view, zillo market price and other leans/exemptions on the properties already. I was wondering if there was a community doing this through bigger pockets or am I alone in the wild?
Nothing through BP that I have ever heard of. Many people on BP are doing it independently.
Absolutely drive by any property you are considering bidding on. Update your list right before and daily when doing your driving to minimize driving by properties that have recently redeemed.
Hi John,
I see you've been Tax lien investing fot a while now. Is there a living in it?
My wife was a manager at the hospital. I was an Electrical engineer.
We quit our jobs and have gone into early retirement from W-2 jobs due to the houses I have acquired cheaply for cash from tax sales. Most of these are now rental houses now.
So yes there is a living in it.
I am going to add that John is quite modest about his method and success's He has a stunningly simple yet safe and effective means of doing this that knocks most of his competition to the curb.. its a genius model. - Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes3y
@Edna Hoolmaa There are people who visit Texas to buy tax deeds, but probably at most sales 90% of the people you will meet are from the local area......sometimes you get lucky, sometimes you don't. My guess in Texas is that for most people it is more of a hobby, than a full time endeavor.
Remember you have to pay in cash or cashier check sometimes within minutes, sometimes within a couple of hours of the sale...same day.
I think one of the tricks here is each county has their own sale. Most at the same day/time. So generally tough to go to more than one sale a month. You have to choose your battles there. Also typically you will need to hold the properties two years before resale. Very few redemptions, so don't count on the 25-50% interest ideas here. The other trouble is properties that get pulled/paid before the sale....so your best laid plans for the 1 beautiful house for sale this month, gets paid day before the sale. So you can spend a good amount of time and money, only for your best laid plans to get blown up the day of the sale. Don't plan on the minimum bids. Sometimes you get lucky.
There are plenty of discussion here on BP, although mostly for a handful of states.....popular experts seem to be from MD, SC, AL, LA, and TX, although there may be a handful from other states. I've also seen a couple of experts for OH and FL, that are not regularly on BP.
I'd look at where you live, and if for some reason it is not an ideal place, look at the surrounding states that are easy to get to. One thing I often advise is know what you are buying. Not impossible to do long distance, but sure seems to help if it is in your backyard or someplace you can get to quickly. Where you know what is going on in the marketplace, where you know the demographics, where you know values, where you know some of the other players.
Occasionally I believe on the Tax Sale Resources website there are some white papers that explain how auctions work in different states.
Happy to assist you in Texas if you have questions.
- Member since 2022 · 6 posts · 4 votes3yThat's good to hear John. Do you buy deeds or liens or both? What states do you buy in and or what states would you recommend? I'm based in NYC.
Quote from @John Underwood:
Quote from @Enda Hoolmaa:
Quote from @John Underwood:
Quote from @Enda Hoolmaa:
Hi Hunter,
I have registered with a few counties and am considdering flying to Texas to see the properties before bidding. Iv'e researched the tax arrers, google street view, zillo market price and other leans/exemptions on the properties already. I was wondering if there was a community doing this through bigger pockets or am I alone in the wild?
Nothing through BP that I have ever heard of. Many people on BP are doing it independently.
Absolutely drive by any property you are considering bidding on. Update your list right before and daily when doing your driving to minimize driving by properties that have recently redeemed.
Hi John,
I see you've been Tax lien investing fot a while now. Is there a living in it?
My wife was a manager at the hospital. I was an Electrical engineer.
We quit our jobs and have gone into early retirement from W-2 jobs due to the houses I have acquired cheaply for cash from tax sales. Most of these are now rental houses now.
So yes there is a living in it.
Thanks in advance - 3yJohn UnderwoodPro MemberInvestor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votesI only buy tax liens in SC.
Quote from @Enda Hoolmaa:
That's good to hear John. Do you buy deeds or liens or both? What states do you buy in and or what states would you recommend? I'm based in NYC.Quote from @John Underwood:
Quote from @Enda Hoolmaa:
Quote from @John Underwood:
Quote from @Enda Hoolmaa:
Hi Hunter,
I have registered with a few counties and am considdering flying to Texas to see the properties before bidding. Iv'e researched the tax arrers, google street view, zillo market price and other leans/exemptions on the properties already. I was wondering if there was a community doing this through bigger pockets or am I alone in the wild?
Nothing through BP that I have ever heard of. Many people on BP are doing it independently.
Absolutely drive by any property you are considering bidding on. Update your list right before and daily when doing your driving to minimize driving by properties that have recently redeemed.
Hi John,
I see you've been Tax lien investing fot a while now. Is there a living in it?
My wife was a manager at the hospital. I was an Electrical engineer.
We quit our jobs and have gone into early retirement from W-2 jobs due to the houses I have acquired cheaply for cash from tax sales. Most of these are now rental houses now.
So yes there is a living in it.
Thanks in advance
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