Tax Lien Foreclosure

[Joe Martella]

Investment Info:

Other other investment in Woodbridge.

Cash invested: $16,218

Vacant land that I foreclosed on from a tax lien certificate I purchased on June 23, 2014. Currently for sale for $75,000. *****Update**** 1/2/22. Property is currently under contract for sale. Expected to close on January 11, 2022.

What made you interested in investing in this type of deal?

This a tax lien that was purchased in 2014 and foreclosed on in 2021.

How did you find this deal and how did you negotiate it?

It was a tax lien that I foreclosed on.

How did you finance this deal?

Cash

How did you add value to the deal?

I didn't do anything to the land. I was working on getting it rezoned for residential. I had it listed for sale and someone purchased it zoned as commercial.

What was the outcome?

It is currently under contract for sale.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes. 

Realtor - Lee Tamburello - 732-770-9184

Insurance agent - David Galarza - 732-576-7700