All Forum Posts by: Don McAlpine

 If it's capital that's holding you back, purchasing a tax deed property in TX will not address that problem.  You'll have a minimum of six months before you could take possession, two years for a homestead, and you'll be paying taxes and insurance along the way.  Purchases must be made in cash and, other than any private money you could raise, are neither fundable nor eligible for cash-out.  The majority of properties that go to the sale have years of deferred maintenance that will need to be addressed in the short-term once you take possession, and you'll need to quiet the title.

Tax liens, when purchsased intelligently, can generate significant income interest.  Most of the horror stories you hear are because people see gurus promising quick riches and the investor discounts any risk.  You can accumulate liens on good properties and, though unlikely, ultimately take possession of the property. 

Are you looking to purchase tax liens or tax deed properties?  There's a significant difference.

I hear ya, but then you get opportunities like this:

The company that handles many MI auctions sends people to the property to provide their observations of it in the listing.  Yesterday, in Mason County there was a property listed with this in the description: "We didn't get a good look at the inside as our inspection was interrupted by the discovery of a deceased person We may provide more details after the scene has been cleared by law enforcement."

This clearly scared off some bidders.  The property sold for $27k in an area of houses valued in the low $200s.

It's also MI tax sale season.  The first couple of auctions have seen some insane bids cast for bad properties...

You should also try Crexi.com, like LoopNet it has many smaller multifamily properties.  It's a good idea to start interviewing some brokers and have them on the hunt for you, in addition to networking for deals.  You can also pull owners of smaller multifamily properties in your desired market and start reaching out to them to see if they'd like to sell.

Hey Krista - I''m in the Austin area and invest in tax deeds.  PM me if you'd like to connect and I'd be happy to share my experience.

The majority of NC tax deed sales are conducted in person at the county courthouse. July has 115 auctions scheduled across the state, 25 in August and eight in September.  To get a list of properties visit each county's web site.

Be aware that NC has an "upset bid" system that favors in-state investors.  Any bidder can top your bid within 10 days of your "winning" bid, and the bid must be made in person at the county offices.

You would be wise to learn more than the "basics" before bidding.  Buying a deed should never be the goal, but rather buy a deed that will lead to a profit.

It's just about FL lien season, so your timing is good.  Title companies and Realtors® will probably have no idea about the sales.

You'll find that there is no single place to go and find out where and when the sales are happening, but many of the FL lien sales are handled by LienHub (.com) and that's probably your best place to start.

Be sure to read the state statutes and auction rules before bidding, the devil is in the details...

 I was at a live tax deed auction once and the last property up for bid was a dilapidated 70s era mobile home on a leased space in MH park.  The bidding started at $1500 and two bidders were competing with each other as the price exceeded $5k.

The auction was being run by a law firm, and once the bidding exceeded $5k, the auctioneer stopped the auction and told both bidders "You're bidding on the mobile home and not the lot.  You will have to either rent out the unit, live in it, or move it off the lot.  I'll give you 30 seconds to withdraw your bids".  Both bidders immediately withdrew.

I was quite surprised at both how neither bidder knew what they were bidding on, and that they were given an out before spending their money.

 There will be tears, but they can be comforted by the cool "Sub To" hat.