136 Grace st Tax Lien

[Daniel Gerardi]

Investment Info:

Small multi-family (2-4 units) note investment investment.

This is one of my first investments, a tax lien on a property in Syracuse, NY.

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

What interested me was it being low cost upfront for a high yield. Coupled with the potential to foreclose on and acquire a potential rental property for pennies on the dollar.

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

I found this deal on Tax Lien Tutor/ Ready Lien, it was an online purchase no negotiation needed !

How did you finance this deal?

Debit card

What was the outcome?

Still pending

Lessons learned? Challenges?

Before Purchasing a lien be aware of expiration dates fir that State, county or township.

[Alexis Bliss]

Please be careful with tax lien investment in Syracuse.  I'm sorry to report that I've picked up some listings from out-of-state tax lien investors who got bled dry.  Foreclosure is one possible outcome of this type of investment.  If the process were fast and cheap, that would actually be windfall to you.  But in New York State, foreclosure is a very long and expensive process.  I would suggest talking to a local, Syracuse real estate attorney about the risks associated with this type of investment in this specific market.