All Forum Posts by: Steve Dussault

Holy cow - just noticed that.  I wonder why that post showed up for me?

 Why bother with the RE licensing board?  Just find an agent that's on board with your buying style.  It'll work better for both of you.

Sorry, this REIA was active for a while, but I moved out of state years ago. I don't think anyone else kept it going.

Hi George,

Yes I have tried contacting the counties directly. That's what I'm trying to avoid doing. The counties send me a list in PDF format which means I have to do a lot of labor to get the names and addresses ready to upload for a mailing. It would be a lot easier if I could buy a CSV list of houses with tax liens on them.

I would like to find a list of county tax lien debtors for several counties in Indiana. Does anyone know where I can buy such a list? I am trying to avoid manually compiling the lists from each county. Thanks in advance!

Update: We are meeting the third Thursday of every month at the Keller Williams office in Lafayette, IN.

Hope to see some local folks from BiggerPockets there!

I imagine that's between you and the lender to sort out. Lienfinance.com, mentioned above, does require monthly payments so you'd need to set aside for this up front.

Of course, if you hold a diversified portfolio of tax liens you would be getting redemptions along the way that could be used to make your loan payments on the remaining liens that have not been redeemed.

Thanks, George - that is helpful info. I spoke to my local banker again. He stated that a few of his other investors had inquired about this recently.

He is currently doing some research to try to come up with a loan product to fill this market. We'll see how this pans out. In the mean time I'll check out lienfinance.com.

That's essentially correct. In Indiana, after the one year redemption period expires the county issues you a tax deed. After that a "quiet title" process is completed before you can get insurable title to the property. This takes another 3-6 months here.

If the property is redeemed during the one year redemption period (the majority are) the tax lien investor receives around 18% interest on the lien. So the problem is that if I use hard money I'd be giving the majority of the profit to them.

If the property is NOT redeemed then your profits can be much higher when you flip the house. Hard money could make sense there, but unfortunately you don't know in advance which houses will not be redeemed.

To me, high interest hard money doesn't make sense for tax liens (at least in Indiana). That's why I need to find a traditional lender or perhaps a friendlier hard money lender.

Indiana is a tax lien state with a one year redemption period at which time you are issued at tax deed if the property is not redeemed. I've been watching the tax sales and there are some houses that are acquired at very good prices!

I have good credit and good relationships with local lenders. I would like to borrow money to buy tax liens, but when I ask at the bank they've never heard of it.

I would think that I should be able to pledge the tax certificate just like any other collateral. Anyone have any experience doing this or know of any lenders that do this?