Tax Sale Auction is done - what now?

[DL Coker]

Hi fellow BP community,

For the tax lien/ tax deed investors out there, I'm curious to know, what do you focus on once the tax sale season is over? I participated in my first tax sale auction in Baltimore City this summer - I didn't get anything but I learned a lot and I plan to bid with more purpose and seriousness when it comes round next year. But that's a while away, so I'm wondering what do those of you who invest in this RE asset class do when the tax sale season is over? Are you simply busy dealing with redemptions, title clearing, foreclosures, etc. from the lien certificates you won? Do you focus on another kind of real estate strategy while waiting for next year's tax sale auctions to come around? Do you focus on OTC sales is various locations all year around?

I'm currently reading the Bidding to Buy book by Aaron Amuchastegui and David Osborn and I'm thinking that foreclosures might be something I could focus on, pending my next foray into a tax sale auction. Plus, there is a bit of overlap with tax lien investing, so that can't be bad, can it?

I just kind of want to keep my momentum going after my first (albeit unsuccessful) tax sale experience. I'm interested to know what your journey was and what advice you can offer, if any.

[Ned Carey]

@DL Coker Wait   .   .   .  wait   .   .   .    and wait

Once the auction is over The attorney takes it from there. I just wait. This is not a game for impatient people. However obviously I use my time for something. In the past it was finding and doing deals any way I could find them. Now our business has grown so much that we spend significant time just preparing for sale and selling the properties we have gotten judgments on.

Everyone is different but if you want to focus on tax sales there are many around the country at different times of the year.

You mentioned foreclosures. Maryland has a law, supposedly to protect, homeowners from investors. (abbreviated PHIFA) You need to be very careful when buying from a homeowner if they are in default of their mortgage. Not just a foreclosure having been started, but just behind on their mortgage.