I've done some data mining and created a more user-friendly map with more pertinent information (photos, tax appraisal, bed/bath count, equity %, etc).
Memphis, TN · Member since 2016 · 6 posts · 9 votes
9y
This is a good resource for Memphis / Shelby County tax auctions ... it provides free tools that allow investors to sift through the auction inventory to find opportunities:
Memphis, TN · Member since 2016 · 6 posts · 9 votes
9y
This is a good resource for Memphis / Shelby County tax auctions ... it provides free tools that allow investors to sift through the auction inventory to find opportunities:
Real Estate Investor · Memphis, TN · Member since 2016 · 940 posts · 695 votes
9y
@Account Closed - I've been to several tax sales but haven't purchased anything. We have primarily flipped so couldn't risk the whole year redemption thing. The one thing I did learn is that the majority of the houses that we were interested in buying get paid up a few days before the date. At least with the online auction you don't have to wait to sit through all of that!
We have owned houses for 5+ years that we purchased from tax sales and/or the Shelby Co. Land Bank that still give the title companies heartburn (e.g., we just did a refi in Dec 2016 and the lender agreed to limit the title insurance because the title company wouldn't insure the tax sale properties to the full amount).
I cut my teeth attending tax sales and bidding on properties there, but I personally have avoided them for the past 5+ years because they just have too many hoops and too much redtape.
Real Estate Investor · Monroe Township, NJ · Member since 2016 · 468 posts · 85 votes
9y
Folks - I am not looking at tax sales yet but I found the Shelby county tax assessor website to be an invaluable resource in my research for buy and hold properties. It is really amazing how much info. they have on-line at the site.
Memphis, TN · Member since 2017 · 7 posts · 2 votes
9y
I'm looking to invest more into tax liens here in Memphis, Tn.. I have a pretty decent job... I own my home here in Memphis.... And I don't know if I want to get a home equity loan and invest, or find a hard money lender, any advice?
If you've got the equity in your home, I'd start with a commercial bank since borrowing from them is so much cheaper than hard money. For what it's worth, that's exactly how I got started investing.
Investor · Memphis, TN · Member since 2016 · 25 posts · 11 votes
9y
Dear Account Closed do you have anything like his for the upcoming Shelby County, TN (is it March/April 2017?) tax sales that are coming up for auction - when we called the local tax offices, they redirected us to a Civic Source website, but when I check it, I only see properties in Louisiana. TIA.
Sincerely,
Mrs. Erik J. Olson Gilliland Farms, LLC Gilliland Properties, LLC 3ML Properties, LLC G-O Happy Homes, LLC
I've done some data mining and created a more user-friendly map with more pertinent information (photos, tax appraisal, bed/bath count, equity %, etc).
Real Estate Investor · Nashville, TN · Member since 2017 · 26 posts · 6 votes
9y
are you able to buy any properties that go back to shelby county directly over the counter per say or do they all they to be purchased through the online auction?
It was extremely helpful ! We purchased 2 Properties.
Does anyone have advice on how to gain access to the Properties after our paperwork from the tax sale (with CivicSource) is finalized?
IF this is a long drawn out process (as it seems, so far) then we want to get the windows & doors boarded up before copper is ripped out of the walls, or any vandalizing that can happen, but we really just want to get into them and get started on repairs & remodeling.
Memphis, TN · Member since 2016 · 6 posts · 9 votes
9y
Question for the group regarding 'messy title' in a Memphis tax sale scenario. There's a scenario posted on www.memphistaxsale.com blog wherein a past owner of a Tax Sale property may have fraudulently obtained titles/deeds/etc. Am I nuts to buy the property in the Tax Auction?...or is this no big deal? Would love to hear from any lawyers or anyone else who has dealt with something like this. Shelby County Tax Auction kicks off tomorrow a.m.
Last week, we tried to finance a property we purchased from the Shelby Co. Land Bank a few years ago and the title company wouldn't insure it.
To me, there are so many other options out there to buy properties that I do not see myself buying a tax sale property again (unless I intend to keep it forever and never finance it).