Hi all -
I'm just getting started learning about real estate investing. My plan is to start with tax liens in Arkansas.
I've been reading and looking at the post auction properties on COSL. When looking at the maps a lot of the properties look like an alley, small strip between two houses, or even ditches???? Can anyone explain what's going on? Would love to get feedback from anyone buying post auction properties!
Also, are there any real estate investing groups or meetings in the NWA/Fort Smith Arkansas area?
Looking forward to learning!
When you go to tax auctions, you will often get listings that are just pieces of land. It can be a good opportunity for someone looking to expand their property. However, in some cases it is just in too weird of a spot to be of any use.
There is a real estate group that meets at Colton's in Van Buren monthly. It's called the River Valley Navigators and is on Facebook.
@Christopher Phillips thanks for the response. No wonder people aren't paying the taxes on those.
@Jeremy Woody thank you! I found the group on facebook and requested to join.
@Kat Wyninger Yeah. I know sometimes people abandon those lots due to taxes and sometimes also HOA fees.
There was a time that people bought empty lots/land out of speculation, but it eventually becomes more of a burden to keep the empty land.
I can't speak for those properties around Ft. Smith, however from my experience the lots without structures that get auctioned off in Pulaski County and usually worthless. They're in neighborhoods that don't make sense to build in and the tax lien is more than the property's value.
@Matt Anderson thanks for the input. I've found a couple properties that are very low priced, but in bad areas, and one piece of property that looks good but looks landlocked. Are you buying tax properties? If yes, how are you verifying the property from the description? Do you have a surveyor? I thought maybe I could ask the neighbors about the property lines?
Hey @Kat Wyninger !
I went to the tax lien auction in my county, and it was a good learning experience. Of each step, the live auction is probably the best opportunity to get a decent property for a decent price. However, when I say property, in my area at least, it is most likely the property will be land for building on or it will be a house that needs to be leveled in a nice location, as the houses have usually been neglected. As always with tax liens, do your due diligence to know what you're bidding on.
@Kat Wyninger , that's very common to find on the post auction sales list. Also, you'll find lots of land that cannot be found.
If it looks like an alley, ditch, or useless strip of land, it's probably an alley, ditch, or useless strip of land.
@Kat Wyninger No I haven't purchased any tax properties. First I honestly just don't know enough about the process, or anything about cleaning up liens. Second, there haven't been any properties I'd be interested in. However, I know there are people in my area making LOTS of money with these properties so it can be done.
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