Massachusetts Tax Liens:Part 1 - The legal and business process
Sounds simple, right? Buy a tax lien, and sit back and collect 16% interest! Investing in tax liens is an area of real estate investing considered to be “passive” by comparison to rehabbing or rental properties, but it can be much more involved than we realize. And the returns can be variable. Do you always get the interest? Can you foreclose on the property? Do you then have clear title if you do?
Todd Rodman is a managing partner at Seder and Chandler, with a significant portion of his practice focused on tax lien law. He has over 30 years of experience in real estate law with a wide variety of clients. Ann Bellamy is a real estate investor and hard money lender, who became interested in MA tax liens and purchased a small portfolio of Worcester liens. Kathy Doyle,Ann’s partner in the venture, also branched out into Illinois liens.
You will learn:
The difference between purchasing a tax lien v. the actual real estate
A summary of the real estate tax collection process in Massachusetts – yes, you have to understand this stuff!
Sales and Assignments of Municipal Tax Liens by Auction – where the action is!
The Auction Process – including premiums
Redemption of Property purchased through the lien process
Additional ways to buy liens via RFP and from lien investors
What happens when you buy liens in other states
Did you know Illinois tax liens pay 36% interest
Part 2 will be presented at a later date, and will include what happens in real life in tax lien investing:“The rest of the story”, and some “War stories” from the trenches.
Who: All are welcome
What: we have the best real estate investing networking in Massachusetts, and the highest percentage of seasoned investors. No sales pitches, no selling speakers, no multi-level marketing, no memberships. $10 per person at the door, cash, paypal or credit card only
Where: Garcia Brogan’s, 240 Moody St, Waltham, MA
When:Tuesday, February 20, 2018 Networking starts at 6PM, program starts at 6:30PM
Tax Lien investing is one area I've been wanting to learn more about for a long time. Unfortunately, I am out of state on a business trip for the next couple weeks and will not be able to attend this meeting. Is there any way to get the information shared at this event without being there?
Eric, we expect to have a part 2 of tax lien investing at a later date, possibly June. So mark your calendar for the 3rd Tuesday of each month. Part 2 will have a brief summary of the information in part 1, and then some war stories.
For those of you attending, we are expecting a great turnout, so if you can make it, please plan to arrive a little early for some great networking. This event was rescheduled from a previous date last October and there is a lot of interest. Part 2 is tentatively planned for June 20, and will include the "rest of the story" and war stories. You just can't make this stuff up!
Hello Ann, have been investing in tax liens in the new orleans area. Each market is different and very local. Do you know of a mutual fund that invests in tax liens as it seems that institutional investors are taking over this market from individuals and it is almost impossible to compete with them in local auctions.
Sorry, I don't. I concentrated on only those liens where if I ended up owning the property, I would have the resources to get rid of it easily.
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