All Forum Posts by: G.D. Haizlip

Greetings Invstr,

Texas is an excellent state to to buy/purchase Tax-Sale Properties. There are well over 254 Counties, plus its' taxing jurisdictions where tax sale properties can be purchased.

Like in every state, you want to familiarize yourself with the rules first. Also, know that you can also earn lots of interest on your money. Unless, the property is homestead, usually the redemption period is 6-Months. Most are conducted by the Sheriff (e.g., Sheriff Tax Deed Sales). Other sales may be contracted out to a 3rd-Party.

Like in GA, all Tax Sales are held on the 1st Tuesday of the Month, but there are also opportunities to buy properties that have been previously offered at Tax Sale (which did not sell), either due to a lack of interest in the property or a shortage of bidders (which is rare but it does happen).

I always like to encourage Investors to attend a sale or two first to get a feel for the environment, and to get a better understanding as to how the Auction takes place.

Your questions: Yes, you can purchase at Auctions/Sales. Each County publishes guidelines on how or type of payment is accepted, the best way to finance Tax Sale properties is relatively a mute point. Now, you can get a bit creative with regards to financing. For example, you can get a Line-of-Credit and perhaps try that approach, or use your Self-Directed IRA, or just finance it with PURE CASH which can be money from your own personal sources.

I hope this helps you and answers your questions. Contact me for any further questions either "PM" me or reply here.

Best Regards, and Much Success As You Invest!
MoneyMakers,

Loki005,

Thanks for Sharing the Info. Very, Very Thorough and helpful!

Best Regards & Much Success As You Invest!
MoneyMakers,

Greetings Gadeboye,

Re: Georgia Tax Sales

Tax Sales in GA are true "MoneyMakers" and are very exciting, but there are a few things you must know before diving into the this very competitive game, particularly here in GA. Do not shy away, but certainly learn the rules beforehand and know the players here.

Georgia has 159 Counties in total; however, every County may not hold a Tax Sale on the 1st Tuesday of every Month (as required by-law). Nevertheless, even if the County only has an Annual Sale, it must be held on the 1st Tuesday of that month in which they plan to conduct a sale.

What is good about Fulton, Dekalb, and Cobb, etc. is that these counties typically hold Tax Sales on a Monthly basis---a good thing for Investors.

However, the properties are pre-selected by the Tax Sale Office, so the properties advertised, unless redeemed, will be the ones offered at the upcoming or scheduled Tax Sale. There are other particulars that you certainly want to consider, such as other liens, BKs-Bankruptcies, etc.

Also, and more importantly, there are other strategies to locate delinquent properties in GA that are rarely utilized (just a point of reference).

If you are relatively new, I would strongly urge you to attend a number of Sales first, observe which Investors are bidding (they are usually regulars with Cash or Credit-Lines), evaluate the properties that are being advertised and sold, including the figures (numbers), then determine if you are ready to play with the players. Make It Fun As Delinquent Tax Sales Can Be Very Fun and Exciting, but remember it is serious business (after all, once-in you are playing with real $$$)!

Sales are advertised in various places: the legal organ for each county and online on certain days during the month. The legal organ is the countys' legal newspaper. Fulton-Daily Reporter, Dekalb-The Champion, and Cobb-Marietta Daily Journal.

This is just a brief overview. Contact me, if need, for more info., and I will be more than happy to help you get started- in the right direction. Right now, I am located near you: PM me for more info., or reply here.

By the way, be sure to remember Oklahoma1s' info. as well (on-point).

The Best Way 2 Play, Is 2 Play to Win! &
Knowledge Is the Key 2 Success!

Much Success As You Invest,
MoneyMakers

Hello Financy,

Which County are you located and which county are you intersted in regarding Tax Sales in MO?

Also, I have a some understanding of Tax Sales in Missouri; however, I have not personally bought any Liens/Deeds there.

As you know, Missouri has 115 Counties, so there are a lot of opportunities there. Most Sales are conducted on the 4th Monday in August of each year for each County that schedules its' Annual Tax Sale. Missouri offers Liens and Deed Sales, but you have to certainly understand the rules and do your due dilingence--which is usually not a big problem, but it requires a bit more research.

Here are a couple of links that provide an overview:
http://www.andrewcounty.org/collector_auction.htm
http://www.bentoncountycollector.com/delinquent.php

Again, contact me for more details.
Best Regards & Much Success As You Invest!
MoneyMakers

Sasha174,

In response to your questions, can you provide a few more details?

For example, Are you interested in a property in a particular city?
Are you using your own money, or are you preapproved?
Have you checked the recent sales data in that area to determine how past sales compare to the price-range that you are comfortable with, or is it more or less likely that you will be able to obtain a property in the price-range you are looking for?

Also, if Westchester County is one of those areas that is not necessarily affected by the Foreclosure Market, then that might explain why you may not have found a deal in your price-range yet (depending on what that range is). However, in addition to trying to buy-low and sell high, there are other strategies that you may also want to consider as well (e.g., Preforeclosures, Short Sales, etc.).

More Importantly, if you are driving through the neighborhoods and you happen to locate a property that appeals to you, you may want to get the address and contact the owner, then make an offer directly to him/her or them. Obviously, if it is on the Market, contact the sales rep/agent.

I hope this begins to help you get a better picture of how you may want to approach the Westchester Market, but do not give up---however, make sure your asking price is within the typical price range of properties bought and sold in Westchester County.

Best Regards, MoneyMakers

Greetings,

In general, most LLCs are not necessarily profitable in their early stages. There are many reasons why people start them such as: protecting their personal assets, separating their business from personal affairs, to age the Corp., or LLC, some even sell their companies after so many years-having never profitted much, if anything at all.

Your safety net should be your "ATTORNEY" or "CPA" who can certainly advise you on filing a return, certainly once your LLC becomes profitable.

One final suggestion: Speak to an Attorney or CPA prior to you setting up your LLC to ask him/her some of these related questions. Most of them are willing to give you some good advice prior to you utilizing their services or bringing them on as part of your POWER TEAM.

I hope this help you,
DelinquentTaxSaleInvestor---

Below, is a link to help you with hard money. However, it is just a suggestion as you should be able to locate or find a no-hassel hard money lender here on Biggerpockets. "Search" under Hard-Money-Lenders.

Also, contact me if you have any further questions as we share a few things in common: credit repair clients seeking home-ownership.

Best Regards,
DelinquentTaxSaleInvestor

Hello Nia,

Welcome! Since we all have similar interests I am glad to be able to offer my experiences or knowledge with you as well. Let me know if I can ever be of any help to you. Some of my areas of knowldege and/or experience include: mortgages (Loan Officer), Tax Sales, Bank Owned Properties, and Pre-Foreclosures.

Best Regards and Welcome Again!

Welcome Shaun G,

It is good to meet others who are interested in sharing and networking. Currently, I am focused on Tax Sales and Bank Owned Properties/REOs.
Let me know if I can be of any help to you.

DelinquentTaxSaleInvestor

Msokolski,

It is much better to start it NOW rather than later. The cost (annual fee) with the state is very little - in most states. Another benefit, besides your tax advantages, is that your LLC will AGE which will also help you to build business lines of credit in the future, under your LLC or Corp. as well.

Another Related Tip for You:
This may be a bit early for you now, but eventually you will want to separate your personal credit (expenses, purchases, etc.) from your business credit; therefore, putting all your business expenses, etc under your LLC or Corp. Starting your LLC now will help you in the long-run.

One final Tip that has help me: Be sure to build your POWER TEAM:
Your team should include a good Attorney to help close your deals, an Accountant you can call-on as needed, an Appraiser, Inspector; and a Database of Investors and potential Buyers to help you to close/move your deals, etc.

Much Success to you---
DelinquentTaxSaleInvestor