To foreclose, or not to foreclose - case study of tax certificate

[Jerry K.]

Too long for a forum post, I wrote a case study of a tax lien certificate deal I just completed on two lower value, vacant residential parcels in Arizona. It gives a newer tax lien investor an idea of decisions you need to make after you buy a tax lien in northern Arizona. I had a neighbor of the parcels want to buy my liens or the land - if I started foreclosure. I had to decide which route was better - sell them the lien or foreclose and sell them the land. It also shows how much interest you can earn on a small amount when you accrue 16% interest annually.

Read the story on my Biggerpockets blog here.

[Josh Carr]

@Jerry K. Did you ever try looking at the after the auction listings on www.iltaxsale.com to review places that are available in your area?  You have to purchase the listing for 25 dollars but almost all of the liens are past the two year redemption period and would be foreclosure ready. There are many tax liens available in Illinois that you don't have to compete on.  If you select the county of choice and then down at the bottom of the page you will see assignable certificates and if you click on add to cart you will see how many are available in the listing before you buy it.  If you like what you see you pay the 25 dollars and then purchase the liens from the listing at full interest rate.  Of course these are ones that did not sell at the auctions so the listing will be limited but may be enough.