Any success with tax deed investing?

[Juan David Maldonado]

What has been your experience winning property through tax deed investing? Are they worth the time and energy? I understand the previous property owner can pay back the city/county and you not get the property. 

[Arnie Abramson]

It depends on the state-every one is different.  In Texas, you buy the property at the tax sale and the previous owner can redeem it-buy it back but must pay you what your costs were plus a penalty fee of 25% if in the first year and 50% if in the second year.  Obviously there is a lot more to it but that is just a quick reply.