Parsippany, NJ · Member since 2016 · 8 posts · 1 vote
Is there any one that has experience and / or specializes in purchasing tax liens? I purchase properties from sherrif sales that I fix and flip. However, I've noticed once or twice a year, there's a tax lien sale and I've been tempted to bid on some tax liens. It sounds like there is a lot more risk involved. Would love the community's insight on tax lien sales - are they profitable? what due diligence should be done? how much interest rates can be charged? how long does it take for the lien to be paid off? Looking forward to hearing back. Thanks!
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
8y
@Account Closed yes tax liens can be profitable. I basically do tax liens investing full time. You are right is can be risky. Just like any type of real estate it is very risky but your risk decreases as your knowledge increases.
Keep in mind that they are sold at auctions and can be very competitive. You need to know the local laws and how they affect your returns, You need to know exactly what you are bidding on.
One of the early podcasts was about tax liens specifically in NJ by Ankit Duggal 356 I believe.
Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
8y
Moe you should Google and pick up Michael Pellegrino's book on investing in tax liens in New Jersey. He's one of the top tax lien attorneys here in New Jersey and the book has a lot of great information.
@Account Closed yes tax liens can be profitable. I basically do tax liens investing full time. You are right is can be risky. Just like any type of real estate it is very risky but your risk decreases as your knowledge increases.
Keep in mind that they are sold at auctions and can be very competitive. You need to know the local laws and how they affect your returns, You need to know exactly what you are bidding on.
One of the early podcasts was about tax liens specifically in NJ by Ankit Duggal 356 I believe.
Parsippany, NJ · Member since 2016 · 8 posts · 1 vote
8y
Ibrahim, thanks for the reference. I'll check out his book. It's great that he's based in NJ so it's relevant information.
Originally posted by @Ibrahim Hughes: Moe you should Google and pick up Michael Pellegrino's book on investing in tax liens in New Jersey. He's one of the top tax lien attorneys here in New Jersey and the book has a lot of great information.