help with tax sale, creative financing ideas

[Derek Farrel]

short back story, I'm a salseman for a fairly large roofing company in Kalamazoo MI. I'm 36 years old and have been remodeling houses for myself or working under someone else since I was 15 (summers and evenings) I've recently started making enough money to begin investing in some property's but heard of tax sakes where you can commit to the city to pay off back taxes on a home with nothing but a signature and no money down..im interested in flipping homes and building a portfolio of rentals. had anyone else started in the buisness by doing this. I have no experience in purchasing this way and unfortunately filed bankruptcy 6 years ago so I'm having a hard time with any bank investment.. any suggestions would be greatly appreciated..im willing to work on the proj3cts myself to get them where they need to be. the cash flow to get the projects done may come a month at a time until I can build a bigger savings but I have read a few threads on here about people starting with no experience at all in co struction or real estate and turning profits there first year...my issue is financing. any thoughts? is this tax sale with a signature and 12 no t hs to pay off back taxes true?

[Eric H.]

Greetings @Derek Farrel,

Welcome to BP!

Tax law differs in every jurisdiction. I would recommend visiting your local/city/county's website to identify the laws pertaining to tax sale where you plan to invest. Alternatively, you can identify a tax/real estate attorney or other investor in your market and seek their guidance through an internship, lunch, or for a fee. In my experience here in my market, it has taken me anywhere from 18-24 months to actually acquire properties I have purchased in a tax sale. I invest in a tax lien state. In a tax deed state, property is granted to winning bidder immediately. No money down......I haven't heard of that. The taxing jurisdiction is looking to get paid, that is why they are auctioning off the property for unpaid taxes/municipal fees.

I wish you the best! Peace!