All Forum Posts by: Dennis Weber

Hi @John Underwood  Off topic but I wanted to ask you what your redemption rates have been like. I read all the time, that it is 95-97% in the country. I talked to the tax lady in the Auditors office yesterday and she said it is about 50% in Marion County, IN. Mine was less than 25% for the 2015 sale. A figure one must know before investing from a sdira and receiving 14 properties in less than pristine condition. Far from complaining but I have to get more creative to get funds for rehabs. Just asking because I've read your posts and you may see me at a sale in SC some day. :)

I do all three, but if I lived in southern Florida, I would only concentrate on learning about notes. I think If one invests in tax sales it should be locally and I think Florida's days of hitting home runs is over. In liens you tie up your money for a long time just to have the property auctioned off. That seems crazy to me. In the deed sales, properties are bid up so high. If you think the Florida market still has appreciation left then it's speculating and not investing to me.

Performing notes you can get cash flow right away. In non performing notes you can get greater returns but with greater risks. If interested in learning about notes and especially non performing firsts, I highly recommend viewing Scott Carson's videos on Vimeo and his Monday Night Note webinars. 

Stock market refugee here. Almost out of stock completely. Too unpredictable. 

@Liliana Lopez  I would calculate per diem.  12%/365 equals .03287. Then multiply your bid amount by .03287   And then multiply the amount of days befor redemption. Then add your other allowable fees and costs. 

@Raj Kumar  you are risking $100k and he is not risking anything. 50/50 no good. 

This is a situation that goes from bad to worse to worser. If they have tenants and property was included in the last tax sale, I would pay the taxes and sell it for whatever I could get for it. Maybe owner finance it to the tenants.  Owner finance it to a buyer where the rent is higher than the payment.  There are investors in Indy that like war zones. Don't look for a profit here but to limit your losses. If it's a vacant property and ca not be insured then it's more imperative to get rid of at any loss. You may get a tax break if you can find an organization to donate it to. 

Anyway, to answer your question, it will eventually show up in a surplus sale but it could take a while and not guaranteed to sell. 

@Juan Reyes  where to buy notes doesn't matter until you learn how to buy good notes. 

I pm'd you. 

Liens and deeds are two separate animals. I'll answe your questions as a non lawyer, non CPA lien investor. I'll be corrected if I'm wrong. 

1. IRS liens are superior to tax liens. In some areas, HOA liens are.

2. Tax liens are not affected by bankruptcy. That just happened to me. Didn't change a thing and I still got property. It may change things if they filed before the sale but you would still be reimbursed for your bid. 

3. Capital gains. 

4. Yep. 

5. When I first started I read over and over again that 95-97% of liens redeem. This wasn't true in my case. It was only about 25%. This is a good problem to have but I invested too much out of SDIRA to easily pay for all current taxes and code enforcements slapped on all the properties to be able to apply for all the deeds. When you buy liens on vacant properties, code enforcement is not your friend. 

Nope, just lawyers.