tax liens and tax deeds info

19 Replies

Hello everyone I'm in the bay area in California, and I'm looking for anyone doing tax deeds and tax liens, so we can help each others

thank u

andrea

Hi Andrea,

I've been participating in tax deed auctions in northern CA for several months, taking part in 7 auctions by now. I learned everything I know from an affordable DVD by Larry Weingarten that I bought online. It's called "Tax Deed Deals," and you can find it at

http://www.larryweingarten.com/page/store (scroll down to Tax Deed Deals). He also has free info on his site at 

http://www.larryweingarten.com/page/taxdeed

Happy hunting!

Wow, that website from Larry Weingarten has lots of stuff!  I am impressed with my first time perusing it right now.

Thank you!

I am a Bay Area beginning investor.  Nice to know that it is possible here in Northern CA!  I look at the prices of homes in Kentucky, Missouri, Florida and think, how am I ever going to start buying rental property here with homes 10 times the prices from the midwest.

Nice to see that others are investing here and succeeding!

Cheryl

Hey, @Cheryl Var, you're right down the road from me! Yes, California presents its own challenges, but I've been able to purchase several properties in northern CA that general positive cashflow. I will say that they're NOT in Sonoma County; I went a bit farther inland. But it's happening.

Since I wrote my previous message about participating in tax deed auctions, I actually won two properties in an auction. It took me several "learning rounds" to get something. The problem is usually that bidders, for unknown reasons, will send the bidding way above any reasonable price. Larry Weingarten's video teaches how to set your maximum bid so you don't end up spending too much. But that can leave you empty-handed when others don't have such reasonable limits!

However, my successes came by applying another bit of Larry Wisdom: Go for the scary properties. You have to know how to check them out and make sure they've got good bones, but it can be a winning strategy.

I'm glad you've found my advice about checking out Larry's website to be useful! He's one of my fave real estate gurus--and he doesn't charge an arm and a leg.

Anyhow, I just want to encourage you to be creative, look for the deals (possibly not in your county), and keep on learning!

Best,

Carol

@Carol Venolia ,

To Make the @ work do the following:

Hold down the shift key and type the following: @?

Look below this Window, and you will see a list of list of names of people who have posted in this thread.

Click on the name of the person that you want notified via an email that you responded to them.

If you are a Colleague with anyone that has not posted in this thread, and you want them to see your post, hold down the shift key, and type the @ and the first 4 letters of the first or last name.

Look below this Window, and click on your Colleague's name.

They will be notified via an email about your post in this thread.

Raymond

Thanks for the tips, Raymond! I wondered about that @ thing.

Hi @Carol Venolia  

I also have tax lien vault. I have not played around with it yet. I was told that  I better know what I'm doing first because It could get you in to some trouble ...I am interested in following your posts and your adventures. I would love to start doing this, it's just laying on my table.  I'm going to check out the link you suggested. I would love to purchase a cpl condos in florida , tht would be awesome. So do you actually get the property for the tax lien purchase?

@Barbara Long , I'm not familiar with tax lien vault. What is that? In California, we don't have tax liens, but we do have tax deed auctions. I'm not sure what all the differences are. Happy to share experiences, but someone else may have to comment on tax liens. Best wishes in your hunt!

@Cheryl Var, check out my response to you above, before Raymond taught me how to tag you!

@Raymond B. , I've finally got it. Thanks!

@Cheryl Vargas   Ha ha ,,I had to figure that one out all by myself!  LOL

It has both, just like yours. Deeds and leins.

The Law, as to how a government entity will depose of adjudicated property differs from State to State but, I don't like the Bid Wars where the property Bids go up so high you can't make profits off the Bid.  So,  I go after the people who own the property, and Partner in the property redemption with the owner.  Often they will take cash for the transfer to you in return for you paying the Tax.  Why not ? they don't get a dime by letting the property go to a Tax Auction.  Anyone got a Tax deed in Louisiana, we are ready to work with you.

@Alex Hamilton , I thought that the downside of that kind of deal was that you also have to take on the mortgage, which "goes away" in the tax deed sale. How do you handle that?

It's tempting to buy direct before the auction, if only because so many properties are withdrawn from the auction before it starts--presumably at least some of them due to the kind of direct sale you're talking about.

This is awesome information.  I used to be stationed at Fort Hood, TX for about 10 years.  I have studied the tax lien process there.  TX generally conduct tax auctions monthly.  Although their redemption period is long (1-2 years), their interest rates on redemption is probably the best out there (1st year 25% / 2nd year 50%).  The beauty of tax liens or deeds is that you don't have to be a resident of the state to purchase them.  So investors would fly into Harris County (Houston area) to invest at these auctions.  I attended a couple of auctions, but I didn't go with the intent to purchase, I honestly attended with the intent of learning.  It is my sheer desire to make tax liens a part of investment venture.  So I appreciate any information that is shared @Carol Venolia  and yes I used the tip that was shared by @Raymond B.  

Originally posted by @Andrea Guevara :

Hello everyone I'm in the bay area in California, and I'm looking for anyone doing tax deeds and tax liens, so we can help each others

thank u

andrea

 Count me in.  l've always liked this type of investing but never have participated. I'm really interested in taking action now.

@Carol Venolia Hi, glad to hear you're doing well with the tax deeds.  Maybe we can chat sometime... how's it going so far? 

If anyone long distance would like to view a property/land located in San Joaquin County or Alameda County, CA, before bidding day, let me know and I will go to the property and take pictures from the outside and all around the area for you. Hopefully is legal to do that. I will then email them to you ;)

A lot of tax sales are coming up for May 2015  in some parts of California.

Originally posted by @Bri R. :

@Carol Venolia Hi, glad to hear you're doing well with the tax deeds.  Maybe we can chat sometime... how's it going so far? 

If anyone long distance would like to view a property/land located in San Joaquin County or Alameda County, CA, before bidding day, let me know and I will go to the property and take pictures from the outside and all around the area for you. Hopefully is legal to do that. I will then email them to you ;)

A lot of tax sales are coming up for May 2015  in some parts of California.

 Hi Bri,

I'm happy to chat some time! I've been participating in tax deed auctions for a full year now--have done 8 CA county auctions. You have to love it for the chase and be willing to go after "scary properties," in my experience. But I did pick up two properties at auction a few months ago. Finally! We've got a lot of great county auctions coming up. If I haven't yet said so in this thread, I highly recommend the DVD at

http://www.larryweingarten.com/page/store (scroll down to Tax Deed Deals).

Thank you so much for offering to preview San Joaquin or Alameda County properties!

Best wishes,

Carol

hello I am a newbie here.  What is a tax deed auction exactly?  Do you actually own the property if you win the auction?  

Hello Andrea,

I live in Hayward, and I am a new investor into tax deed auctions.  I narrowed down my area to the state of Florida.  I am new at this and I'm hoping to purchase my first home within the next couple of months.  Let me know what your plan is.  Maybe we can partner up. 

hi everyone! I know this is an old thread, but I'm just getting started with REI, specifically tax deed investing in NorCal. I'm sticking with counties nearby to make the research a little easier. Any advice? I started a discussion in the tax liens/deeds forum, entitled: "just getting started with tax deeds. Looking for wisdom!" If you don't mind sending some info my way, that would be great! Thanks a bunch!

Still trying to avoid the Auctions and buy from the people Tax, which is a Win Win deal.  The original owner nor relatives of the owner makes a dime when the property goes to tax sale.  I'm offering to pay the Tax and buy the owners interest in Louisiana.

Know of any properties like that?

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.