Any success with tax deed investing?
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.
With tax deed auctions, usually you get the property as soon as you pay the amount of your winning bid. You may be thinking of tax lien auctions where there is usually a redemption period that the homeowner can pay the taxes and satisfy the lien.
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.
@Juan David Maldonado I think it is worth it.
But you have to take the time to study and understand the rules at your State. Like @Arnie Abramson mentioned, every state has a different rule. To invest - or not - in tax deeds will depend if these rules, and the numbers, fit your investment criteria.
If you think about Texas, reach out to @Arnie Abramson and @Bruce Lynn . They are some of the most knowledgeable people in that field that I know.