Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
8y
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.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
8y
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.
JD, CCIM , Real Estate Broker · Tuscaloosa, AL · Member since 2014 · 1k+ posts · 1k+ votes
8y
@Glen Michael and @Scott Rogers, I am the Alabama expert on tax liens. Mention my name if you have a question. I do a better job of those notifications than just the key word notifications. Thanks @Ned Carey
Real Estate Broker · Bradenton, FL · Member since 2017 · 544 posts · 363 votes
8y
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.
Mobile, AL · Member since 2018 · 16 posts · 0 votes
8y
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?
Mobile, AL · Member since 2018 · 16 posts · 0 votes
8y
let me just say that about a week ago I bought Alabama tax sales 12th edition for 2018 by Denise Evans. I have been reading this book for a week and I can't put it down. I had written out three pages of questions about tax liens and tax sales while waiting for the book to get here and she has answered them all. I also got the downloaded book and it's a PDF file so I can search for keywords in the text. I just can't express how much this book has helped me. Keep up the good work Butler Evans education
JD, CCIM , Real Estate Broker · Tuscaloosa, AL · Member since 2014 · 1k+ posts · 1k+ votes
8y
@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.
Investor · Colleyville, TX · Member since 2015 · 41 posts · 18 votes
8y
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%?
Best!
Charlie