All Forum Posts by: Nick Vafa

@Jaron Walling Thank you, I appreciate it!

@Jaron Walling 

Hi Jaron,

I also purchased two other liens at this tax sale. One was a single family residential, and the other was a commercial property. The commercial was just redeemed last week, and I have just posted a discussion regarding the deal so you can take a look at that. I received a total of 6.4% interest on the commercial property after 5.5 months, at 1.16% interest per month.  I am still waiting for the other residential property to be redeemed.

Investment Info:

Commercial Property Tax Lien Redeemed in Westminster, Maryland. 

Purchase price: $ 5,637.14 

Cash invested: $ 5,637.14 

Sale price: $ 6,000.39

This property is the 2nd of 3 tax liens I purchased at the Carroll County tax sale held in July 2018. Compared to my other redeemed property this lien took several months longer to be paid back ( 5.5 months), therefore I earned a bigger profit on this lien. The delinquent tax payer redeemed 5.5 months after the tax sale, so I received 6.4% interest on my original investment as the yearly interest rate in Carroll County is 14% . 

How did you find this deal and how did you negotiate it?

I found this tax lien opportunity from the Carroll County tax sale website, which provides listings for all properties included in the yearly tax sale. In Carroll County, bidding is done auction by surplus, not interest bid down method. Carroll County holds live auctions only, with no internet or over the phone bidding options.

What was the outcome?

The outcome of the deal was that I made a 1.16% profit per month for 5.5 months. Compared to my other redeemed property, I am happy that I received a bigger profit for the same amount of work. I am currently waiting for my last lien to be paid off in Carroll County, which is a single family residence property.

@Ned Carey Very true!

Investment Info:

Single-family residence other investment in Westminster.

Purchase price: $4,579
Cash invested: $4,579
Sale price: $4,632

One of the tax liens I purchased at the Carroll County tax sale held in July. It was a very short lived investment, as the delinquent tax payer redeemed the property after the month. Since the yearly interest rate in Carroll County is 14% , I received 1.16% interest on the lien as it was paid back after only one month.

How did you find this deal and how did you negotiate it?

I found this tax lien opportunity from the Carroll County tax sale website, which provides listings for all properties included in the yearly tax sale.

What was the outcome?

The outcome of the deal was that I made a 1.16% profit after a month. However I was hoping the tax payer would take longer to redeem on the property so that I would receive more interest pay.