Tax lien in Colorado

[Sophie Wang]

Hey guys,

I am thinking to start investing in tax lien certificate, and it seems to make sense to start in my home State which is Colorado. However, it is kind of hard to find information specifically for Colorado, maybe because Colorado's rate is not as high as some of the other States such as NJ which has been a lot more discussed? 

I did read a couple CO counties' treasure's website and did some online research on general information about tax lien investing, but still feel there are a lot of unknown. For example, Colorado's policy is to bid up with premium and people can not see how much higher other people are bidding in the online system, I am curious in previous years how much premium needs to be added in order to win a bid, in a ballpark. 

So is anyone doing tax lien investing in Colorado that I can get some information/help from? Just trying to get a little more enlightened so that I can avoid some pitfalls as a new tax lien investor. Any suggestions are greatly appreciated. 

Thanks!

Sophie

[Sophie Wang]

Thanks everybody for the recommendations and advice! I tried bidding in the online tax sales in Denver county and Jefferson county in Colorado last week but did not win anything since I did not put in big enough premiums. I actually do not understand why other people were bidding with such a high premium (in some cases it was even higher than 10%), given that CO only has an interest rate of 11% and the premium is not refundable nor bear any interest. The liens which were not sold or did not need a high premium to win were all vacant land which were too small for building anything or of weird shapes or embedded in other plots and without road access. I am thinking to try some other counties which have their sales in November but I am feeling stuck. The idea of tax lien investing seems to make sense but when actually doing it, it seems not as much?