learn all you can about your states redemtion period. Tax liens are their own life form.
It can be, but usually not. Most new buyers of tax liens do not understand the risks and hidden costs. There are some experts here on Alabama tax liens.
More important that whether your first deal is a tax lien or a foreclosure or a short sale is: "Is it a good deal?" Any form of investing can be great with the right deal. If you don't know if you are buying a great deal you should probably take more time to educate yourself before jumping in.
It sounds like you have already purchased your first lien so I hop it goes well for you. If it doesn't go well learn what you can from the experience. You have already done more that many, if not most, that come here to BP. My first two liens were home runs, but that was beginners luck.
@Glen Michael I’ve got a couple rentals I acquired as tax deeds. It’s a good low risk way to get in the game. Just be sure to learn all you can about the rules.
The biggest downside for me is that you can’t get financing, aka you’ll run out of money. Also, I’ve heard that tax delinquent inventory is starting to dry up. Especially in better neighborhoods.
I won’t buy any more for the above reasons, but it probably is a good way for you to get your feet wet.
Thank you all for your replys. My state has a three year redemption period and 12%! Those are good numbers from what I've read. @Denise Evans which of your courses would you recommend? Also are they available on cd? I've been listening to the BP and rich dad podcasts. I think Ilearn best this way. What else would you recommend?
@Glen Michael , thank you so much for the praise! You know if you have any questions not answered in the book, you can always contact me. A new edition comes out every year, and I'm always looking for ways to make it better. BTW, my policy is that anyone who buys one year's edition gets the next year's at no charge for the pdf version, $30 for the hard copy. 2019 will probably come out in February. When it is ready, I'll send out links to all 2018 customers to download the pdf version, and then they can decide if they want to buy the hard copy.
Denise - this also answers my question of obtaining your book and getting updates to the Alabama process. I too have been investing extensively in Alabama and only recently came upon your expertise. One particular change that we all will need to get prepared for is the change in interest n auction procedures. Any thoughts on the upcoming interest rate change of 12% to 8%?
Free eBook from BiggerPockets!
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.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you