i have about 3500$ in the bank and im saving up to 10. I want to find a good deal to sink it into.
At nearly any tax sale, you will need to pay the amount of your winning bid, it isn't money you are "putting down". You're buying the property if you win and you must pay all at once.
That said, there are many areas with properties going for under $10k. In Detroit you can buy the properties for $100... some times a dollar.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
17y
I Baltimore where I invest, some liens sell for well below that. However they are vacant boarded up properties and you don't know the condition inside.
My first lien was about $3500, by the time I was finished with the legal expenses and transfer costs I was up to about $10,000. I sold it for $45,000 as is. So you can do it with small amounts of money.
However there is a lot to know about the tax lien business. Make sure you understand the hidden costs and risks before you put all you invest-able funds into it. The site in my signature below has some posts about tax sale you might find helpful.
While I am a big fan of tax sales you might find it better to start by wholesaling a deals. Tax sale can tie up your money for a long time (1-2 years) and then you may not get the property.