Should I buy Tax liens as first Property

Question

Jordan Thibodeau · Answer

It all depends, I look at a tax lien as convertible bond, a note that has the potential to be turned into an option to buy an asset. It really depends on your time table and how much cash you have in the bank. I would check out Ankit's podcast, he does a great job explaining the business.

Tom Yung · Answer

@Dexter Lewis Sr TX is a redeemable state, with interest 25% for the first year & additional 25% for year two.

redemption is 6 months for non owner occupied & farm land.Other wise is 2 years.

- Check the county rules, some counties forbids you to bid if you are not current with your own tax.

- watch out for the starting bid, that may be few years back tax. So you have to bring the tax current.

I will say 50% of the time when you won at TX tax auction, you will end up with a property. So be prepared to deal with the property.

- You have possession after you won, so if there are tenants, you can collect rent & wait for the owner to redeem.

-You are allowed to make basic repairs & maintenance to the property, you can recover all these expenses when owner redeems.

I, myself likes tax auction. If the auction is at your back yard, You know the condition of the property. You can end up with a home run.

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Should I buy Tax liens as first Property

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