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Updated over 6 years ago on . Most recent reply

Account Closed
  • Bellingham, WA
4
Votes |
13
Posts

Resources for Learning About Tax Lien Investing

Account Closed
  • Bellingham, WA
Posted

Hello!

I am new to real estate investing and am trying to learn as much as I can. I am currently part of a local mastermind group being led by an attorney and local broker/investor and get the opportunity of helping/shadowing the investor on a 'land flip' that he is working on. This month we were supposed to identify a couple of properties that 'should' be on the market but weren't (i.e. find a deal). My mom happens to work for the county Treasurer's office and told me about the "certificate of delinquency" that they had just filed that started the process of tax foreclosures for that year. I went to the superior court and got a copy of the case which included 70 parcels facing foreclosure. I am reading through the "Ultimate Beginner's Guide" from Bigger Pockets that mentioned tax liens can be complicated and require a lot of research, knowledge and experience. 

My questions are: What makes them complicated? And what are some good educational resources on the subject? 

Does anyone have any experience investing in tax liens? Where would you recommend a beginner to start? 

Many thanks! I deeply appreciate all the wisdom on this site!

Most Popular Reply

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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
4,435
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5,073
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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
Replied

@Account Closed   Sorry now I see you are in Bellingham.  At first BP just showed me your Question Title....now I see all the detail of your post.

So you have a start....complicated....it can be...but time is probably the tough part.  So now you can take the 70 parcels. ....one step is to see if there is equity in any of them, and maybe enough equity to make it worth your while.....this means there could be $10,000 in taxes due...but it's only worth $9000.  So you skip that one and move to the next.  The next one has $10000 in taxes due, but is worth $11000.  So there's equity, but maybe not enough to make it worth your time....then you move on to the next and the next.....about 20 in...you find one that might have equity, but is unbuildable or in the flood zone or in the hood, or it is landlocked, so you keep moving down the list.

If it was easy everyone would do it.

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