You might think that Tax Lien Investing is easy to do. But even though there are simple steps, it needs your skills and diligence to start and end it right.
Tax Lien are a place where you can start investing in real estate. As a review, in Tax Lien you are paying taxes owed by the property owner to the government. Once they can’t pay anymore the taxes for their house the county will essentially send their house to an auction. As an investor you can pay their taxes and the homeowner owes you that money and not the county.
With that, the owner has to pay you back with interest, and if they can’t pay you back with in the specific time you can foreclose the house which is pretty cool because you can buy the house for only its back taxes.
But there is tan instance where the property could have other years of taxes and for you to get the right to foreclose the house you would need to own the most superior lien which is the oldest one.
And if you see that it’s a good deal or you see that it’s a property that you can move quickly, it’s in your best interest to buy all of those back taxes.
Remember this!! Don’t just go to the internet and start clicking those properties that you like or you think cheaper.
Make sure you do enough due diligence to know if it’s a make or break deal.
QUICK TIP: You can take the parcel number and visit parcel map view finder and it will also give you the address of the property, or at best, the closest intersection to it.
Then you can use landglide (the phone app) to get the exact location!
You may also look at it through Zillow, Home snap, realtor, property shark, etc. Examine and study the property. Make sure that whatever you buy, you leave enough room on the table to sell it!.
But let me tell you this, that it’s still a gamble when you buy a property without seeing it first. You can be so diligent in your research online but seeing the property is always the best way to do things.
You can pursue this strategy in investing with your skills and diligence and find great deals.
I hope this article helps you continually grow and move forward with real estate investing. And if you think you got stuck feel free to give us a call, we’d love to help you.
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