With the tax certificate auction season open in Palm Beach County, was wondering if there was anyone with some experience in it that has some time that would let me pick their brain and/or give any advice. First time I would be investing in tax certificates, and only have a grasp on them from extended reading and would like to talk to someone with real world experience before investing.
IMO, a total waste of time and effort. Most certificates will yield less than 3-4%. The ones no one wants, for a reason, will Supposedly yield 10-18%....but there is reason experienced people won't touch those properties.
Plus, the certificates give you no ownership interests, and to collect on them if the owner doesn't pay, requires paying off all the other outstanding certificates, sending it to auction, and hoping someone bids enough to cover all your costs.
Why is it that the interest rates are so low? Are they bid down so much?
@James Lim A great resource for this is Joanne Musa. She is an expert in Tax Sale investments. Look her up for some strategy help!