Tax Lien Certificates

[Nic Haacker]

Hello,

I recently went to a rich dad poor dad conference and learned about tax lien certificates. Has anyone on here made a living buying certificates?

Nic

[Peter Walther]

Florida tax certificates are sold at a dutch auction with the bidding on the interest rate starting at 18%. The winner of the auction is the biddr who will accept the lowest interest rate. After holding the certificate for two years the certificate holder can ask for the property to be sold at auction but all outstanding taxes have to be paid first.

Though property tax sales happen infrequently, you need to be sure the property is worth the tax amount because you might wind up owning it.