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Updated about 5 years ago,

User Stats

5
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2
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Tom Wolff
2
Votes |
5
Posts

Bought my first tax deed land, Arizona

Tom Wolff
Posted

Long time lurker who bought his first tax deed land yesterday!  State had acquired property almost a decade ago through unpaid tax lien, no redemption period anymore, bought the property outright for $3k.  Called local real estate agent, property is worth 40-45k ... I'm ecstatic.  It's a vacant lot and easement might be an issue, however, I'm looking into that.  Arizona will send me a Quit Claim Deed when all the bidders on all the properties have paid up and my bid will officially be approved in a few weeks.  My next step is to initiate a quiet title action to clear any issues up and put it on the market.  All fees included I'm hoping to net nearly 35 thousand on this one.  Is there anything else I should be concerned about or looking into?  Anything an experienced investor might say I'm missing?  I already have a real estate agent on it, photographing, looking into any current issues, et cetera.

Thanks!

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