Help!! Anyone buy tax liens new investor here
Hi I’m new to investing I’m in the Philadelphia area. I want to start off with tax liens and work my way up to flipping and rentals. I have been to a couple seminars to learn about the niche. I’m also willing to help out anyway I can as well. I just passed my real estate exam and I’m ready to learn and get the ball rolling
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@Aisha Brown @Stephen Geluz Tax liens have become very competitive. The competition has driven down the financial returns. Tax sale also has many pitfalls you don't hear about from those promoting tax sales. You absolutely can and many people do lose money.
However with the market changing, the returns may also change. I don't want to scare you away but I want you to have realistic expectations. With the changing market changing, the risk reward may also change.
you need to know 3 key things
1) What are the rules - how do the rules affect your returns What are the hidden costs - The property can cost you substantially more than the bid amount
2) Know exactly what you are bidding on - Many properties are worthless strips of land. The descriptions may mislead you to think you are bidding on something other than you think.
3) Know the TRUE value of what you are bidding on. - The assessed value of the property can be way off the actual value. You need to understand that any property you get will be in poor condition.
Good luck