Porter county

[Jay Marn]

Hi All - my first post on this forum and about my first lien purchases. I purchased couple of tax lien in Indiana commissioner sale - porter county.  The liens were not redeemed. One of the liens had a manufactured home on the lot of 9600 sq foot, no the home is removed and other one has 1950 built house, don't know the condition since someone is living in there.  Both are in Locust St, Portage, IN.

the liens including attorney expenditure costed about 2500$ each.  Now

- Should I go for the tax deed on the vacant lot - is it worth the headache to get it and sell the land ( The county valuation is 20K)

- On the 2nd lien - thoughts ? how to proceed and what are the next steps that I should be taking related - Is it worth to apply for tax deed and if so any next steps etc.

I would appreciate any insights and if you have experience please  post it to me. I am also interested in further investing in tax liens and any tips and guidance will be helpful.

[Boyd McClean]

Jerry K made some very good points.

If Jerry is going to swing by there in the future have

him check to see if the vacant lot has septic or municipal

sewage in addition to a well or municipal water as well as 

electric. Once you get title to the vacant lot advertise in

Craigs List for that area that you have a mobile home lot

for sale. (with all utilities)

Also call local mobile home dealers and tell them that

you have a lot available if they have customers that are

looking for a lot to put their new mobile home on. Now you

either sell the lot or rent it for whatever moble home lots go

for in that area. If you can get $300 a month lot rent you

will recoup your invetment in a short period of time. Once

you get seasoning on the lot rent you could sell the lot to

a local investor.

There are some other options with greater return yet you are

out of the area and you would be hard pressed to get them

instituted.

Also call local porpane distributers and ask if they deliver

propane gas to that area. If so tell them you will give a referal

fee if they refer a buyer for the lot. Most mobile homes in rural

areas use propane and the dealers have connections in the local

mobile home community.

Look in CL and see who is advertising mobile homes for sale. Find

someone who is a wholesaler and tell him you have a lot and will

give him a referal fee.