Tax Lien Foreclosure - Vacant Land

[Joe Martella]

Investment Info:

Other other investment in Woodbridge.

Purchase price: $12,196
Cash invested: $12,196

Vacant land that I foreclosed on from a tax lien certificate I purchased on June 23, 2014. Currently for sale for $75,000.

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

I purchased a tax lien certificate at an in-person auction. It is vacant land in a heavily populated area off a main roadway.

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

I found it via a tax sale publication.

How did you finance this deal?

I used my own cash.

How did you add value to the deal?

There was no value add. The land is worth about $75,000 and is currently for sale.

What was the outcome?

The land is still for sale.

Lessons learned? Challenges?

None-yet

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

Lee Tamburello - Keller Williams - 732-770-9184