All Forum Posts by: Hobart King

Brett,

Welcome! I'm in a similar position to you and I'm planning on going to my first tax lien sale tomorrow in Indiana, which is a great state for investing in Tax Liens. I found the following resources very helpful:

1). This forum 

2). Zero Risk Real Estate by Chip Cummings

3). www.zeroriskrealestate.com/bonus

Free videos for how to do your due diligence

4). www.thetaxlienlady.com (she has a great overview of how every state works)

I'm sure there are some other great resources out there as well! Good luck

@Timothy Hollems Thanks a bunch! I will see you there

Thanks all for the help

Hi,

Was wondering if it is possible to transfer a tax lien to another individual or a company? Does anyone know how that would be done? 

Thanks,
Hobart

@Greg Carrier - Have you ever been to the Delaware County, Indiana tax sale? Do you have any idea how many people I can expect to attend? Very excited to be buying my first tax liens!

Hi all,

Just had some questions for the tax lien experts that have been around the block. I have never been to a tax lien sale and am planning on going to one in Indiana in a few weeks. I have never been to a tax lien auction so I have no idea what to expect. It's in a smaller county so I'm hoping that the competition will be less. I have a question about setting bids at a tax lien auction and what to expect at the auction. I've narrowed my list of properties I am interested in down to about 100 and am starting to take a closer look at each of them. Can someone give me a rough idea of what to expect in the following circumstances and how much competition there will be for these items?

1). A 160 acre parcel of land comes up for auction with back taxes of 10k. The property is assessed at a value of 200k.

2). A beautiful home assessed at 250k that owes 4k worth of back taxes

3). A home in a medium income part of town that is safe. Assessed at 58k and owes 3k worth of taxes.

Thanks,

Hobart

 Thanks! If you don't mind me asking, which two counties did you go to, and how competitive were they?

@Dennis Weber - Do you know if SRI updates the lists prior to the auction to scrub properties that redeem? 

@Dennis Weber Thanks for the tips! My plan as of now is to invest ~20k in tax liens at the Delaware county tax lien sale. Given that I can only take one day off work, the two day format in Marion county makes it too difficult to plan. Also, I'm thinking the competition will be much less in Delaware county.

Question for anyone who has experience:

1). Has anyone bid for and gotten a tax lien on raw land in the midwest? There's some quite valuable land parcels up during the sale. Does anyone know the likelihood of redemption on these and also, how easy they would be to sell on if the owner did not redeem? I'm guessing that the competition for these vacant land parcels will be less and the rate of redemption will be lower.

2). Just for kicks, there's an easement to a strip shopping center in Franklin county for sale with a minimum bid of ~8k. Has anyone bought a tax lien to something like this?

Thanks in advance

@Jerry K. I decided to take a day off from work and drive to Indiana to participate in an auction next month. Haven't yet decided on the county. But I've already been compiling stats from the auctions over the last few years - and yes it's addicitve! I just wish I had a windows computer at home like I do at work - excel on Mac makes me want to pull my hair out. Will begin due diligence phase after I decided on a county.

Also an update: Decided to head to the library and check out Zero Risk Real Estate by chip cummings instead which is a fantastic book instead of rogue investor.com. I feel like I know enough to get involved now.