Tax Leins

[Mark Gruetzmacher]

Hey everyone, the idea of tax liens have crossed my mind a few time but I wonder if it is even worth the work involved for the returns available.  I have done some checking and the county treasurer told me that there is a 3 yr redemption period so you would have to pay the taxes for the 3 yrs and if they don't get redeemed you can proceed further.  I was also told the interest rate starts at 10% and goes down from there if there are bidders on it.

We only have a tax lien sale once a year also.  They just posted in the paper the properties and then on Monday they have the sale.  Pretty mind boggling looking at 2 pages in the paper with just the legal description and tax amount plus then they have the sale only  five days later.

Is that how it normally works.  Is 10% interest normal as well?  Maybe it is just me but only having 5 days from posting what's going up for bid and the sale date would make for a ton of work to be completed to have an enough time to make an informed decision.  

As it has crossed my mind some I just wanted to check it out.