Tax Deeds in Georgia

[Benjamin Barry]

Hello, I am in Atlanta and am interested in investing in Tax Deeds.  I have read one book on the subject and even though I have much more to learn I think I am ready to buy a small deed for learning purposes.  I had a couple of questions:

1. How much do I need to buy a tax deed if I go to a county a little further out in the country where I am assuming the property values are lower?  I would like buy a couple of liens, hopefully around $500 or so each.  Is this possible and would they mostly have to be raw land for that amount?

2. If I decide to keep doing this what would be the best way to get funding?  Are there loans for tax lien investing that would be secured by the value of the lien, and what kind of loan would be most appropriate?

Thanks in advance.

[Marvin McTaw]

Hey @Benjamin Barry I would recommend going to a couple of the auctions. You will have to purchase everything in cash. That being said, you can borrow against a line of credit (e.g. HELOC) and then use those proceeds to purchase it but you would still likely incur some costs when doing that.

Another thing to note is that in Georgia, you don't actually get possession of the property right away. The owners have up to 12 months to pay the taxes (plus a 20% return to the tax deed purchaser e.g. you) and get their property back. You can read about some of the stipulations here.