All Forum Posts by: La Ferria T.

Clarification on this post firstly the property has owner occupied, secondly I did not have possession of the Tax Certificate because it had not been issued to me.

Let me clarify this you will not receive the Tax Certificate immediately, therefore you do not have any rights to ownership nor possession.

It’s important to note that you “Do Not” a tax certificate immediately

I spoke with an attorney that confirm that I can not take immediate possession if for no other fact that the individual has up to three years for redemption.  In addition, two of my properties were owner occupied.  

thanks for the additional insight  Shimira Greene

Hello Bracey and welcome.

The discussions on BiggerPockets are both lively and informative and will provide you with invaluable insight on your RE goals.

I suggest you visit the Netwoysection and find other individuals within your locale in addition sign-up for notifications on various forums which may be on interest to you.

Again welcome and good luck!

Well, if you notice I had been quite actively previously and literally missing in action the last couple of weeks well here's why!

Remember a while back a wrote a post regarding partnerships and investing styles; well I thought I am a very good communicator and have been quite forthright with my partner on such things as my vision on the properties, rent portion, etc all which my partner indicated he had no ideas and everything I propose sound great.

Shortly, thereafter he went rogue!  He went to talk to the property owners ( which I mentioned that we would not do, but communicate through the letter of law for which our liens are governed.  

I indicated that we should and would consult with a RE attorney, he makes an appointment without me and in which the attorney wanted the certificates.

Well, in summary the 2 primary ( real moneymakers) were redeemed within 1 week of purchase.  Are you wondering if those were the ones which he went to talk to well you're right.  So, not only did we lose the potentially most profitable liens we didn't even receive any interest to boot!

The remaining 2 properties I have the certicates 👌 and haven't moved forward due to his shenanigans.  Recently, he called to ask me if I had made any moves or any new developments.  I literally had to bite my own tail to muffle my screams.

One property still has minimum potential the others potential is suspect; both properties were investments he wanted to bid on site unseen; in addition the overall land and property value didn't interest me yet I took one for the team. 

In closing, very disappointed in this investor/partner.  It is my desire that these properties are redeemed also, so we can part ways before this cat stops biting her tail and let's out one long scream😡

Hell Denise, and thank you for extending your professional wisdom in my new found venture.

I begin investing in Tax Liens approximately two weeks ago.

I felt the timing was right and since I had some disposable income, I jump head first.

I am still relatively new to the area and invited a fellow business colleague to assist me with accessing some of the areas; well a partnership was born.

Although, we are both novices in Tax Liens, I have a solid background in researching topics (mostly taxation) but I digress so I felt mildly comfortable with this sudden turn of events.

Well in hindsight, my partner and I management style is vastly different; this is where the slight nuisances started to appear. 

Although this partnership is a good fit on paper, I would highly recommend that one's partnership somewhat compliment your personal investing style.

Sometimes, that polar opposite creates a good balance; but also it challenges.

I am providing this post mostly to share my personal observations and also, because there are equally as many request seeking partnerships and funding.

For those individuals, I submit that that partnerships with colleagues, family and friend inherently involved possible nuisances in operating style, priorities, and realistic timeframes on the amount and division on your net return of investment.

In summary, think, plan and have those discussions prior to forming your partnership, funding etc...these are just my thoughts in hindsight.

Hello Fellow Investors!

Just thought I would take this opportunity to share with you some additional basics that I have learned within my short venture into investing with Tax Liens.

My state (Alabama) currently has a 3 year redemption timeframe and pays approximately 12% per year.

Ok, I assume you know the foundation on how to find listings and researching the properties etc.

My discussion will begin with what happens after you purchase your Tax Liens.

Firstly, be aware that most Tax Liens will be redeemed approximately 90% are repaid within the first year.

Secondly, after the sale the previous owners are usually notified that their property has been sold and outline their rights of redeeming the Lien without additional consideration (aka cost paid to you the purchaser) if made normally within 10 days of notice.

Thirdly, the annual percentage rate will only begin after you have held the Lien after 30 days; therefore you will receive only the original cost you paid on the Tax Lien; no more, no less.

Lastly, you are not the homeowner just a Lien Holder therefore no keys, no access to the property, no look through so etc.  It is important to remember this prior to considering investing in these instruments.

I will be periodically, provide you with updates in my personal journey into this arena and all information is specific to my locale and view-point.  As always, please remember to research and seek profession counsel..the money you save and grief you save is truly your own.