All Forum Posts by: Dennis Weber

 Holy Smokes!  How many liens are offered and how long does the sale last?

@Amanda Keller  you're welcome to network with us at CIREIA ( first Thursday of the month) or INREIA (second Tuesday of the month). 

@Ryan Lee Marion County (Indianapolis), I'm convinced, is one of the better tax lien sales. Two day event and most people don't come the second day allowing you to pick up liens at minimum bid. Hedge funds stopped coming after they lowered the overbid to 5%. But if you get them at minimum bid, so what? Oct 2015 was my newbie period. I invested in 6 different counties. I read that 95-97% of the liens redeemed. Using that and my newly formed self directed IRA. I developed my strategy of math and volume. It was either a brilliant plan or I failed awesomely forward. I suspect the latter. In all counties, I purchased 17 liens and acquired 14 properties. Most people that got properties from that year have probably gotten rid of their properties by now. I have about a quarter left. I'm a one man operation. Two things I learned 1). Realtors are worthless to you and 2) Seller financing is your friend.

Not sure the answers would be relevant to your specific strategy. It would vary wildly from state to state,  county to county and investor to investor. 

An interest free loan?  Can I borrow some money?  But to your question. You will have interest taxes to pay. if you service it yourself there will be no one reporting to IRS. I'm sure being the patriotic sort you'll figure out what you owe and send it to Uncle Sam. But you need to protect your investment. Get as much down payment as you can and interest rate at least 6% ( I never go below 8). I don't what your circumstances are but this is what I would do. Get down payment of at least 10%. Amortize for 30 years. Collect payments for 3 years and then sell the note. You'll make more than your $140 k in three years. 

@Emmett R. McCarthy  I always wondered how much the court weighed the responsibility of the  taxpayer to insure property tax bills are delivered to them at the correct address versus the county or attorneys hunting them down? How much does a Public Notice count since you know the taxpayer would never see it?

Check the address on Zillow for pics. Don't think I can advertise it here and post would be removed. Need extensive rehab. 

I have a house for sale at 128 S Arlington. It's in Irvington. It's a very desirable appreciating market. I don't know how far Irvington goes down Arlington, though. And my property is in a less desirable part of Irvington. It is not a war zone. I would say C+?

I wouldn't think you could get a tax deed for $4000. At least one standing. You'll need OPM. Which it sounds like you might have. GA has a redemption period, don't they?  Will your investors be okay with tying up their money that long?

I'm not discouraging you from considering GA tax deeds because I understand it to be one of the better places with the laws. Have you ever considered buying defaulted notes?  Notes aren't exactly passive but would allow a young man to concentrate on his studies. Possibility of monthly income (after a modification). And high returns. Just suggesting. Being able to do your own quiet Title and foreclosures. Sweet!  I just spent $26k on title certifications on 13 properties I got at tax lien sales. 

Doing a google search found m06 as a land use code.(2) M06 Vacant land with most probable use a mobile home subdivision.

Hope that helps.