Annual Detroit Tax Auctions?

[Lennon Turner]

I was listening to the Bigger Pockets Podcast featuring Ashley Hamilton.

At the 41 Minute Mark(Here), she says that she purchased a property through yearly tax auctions? Is that the same as the Detroit Land Bank Auctions that are ongoing? or is that something different? Can someone point me to resources?

[Michael S.]

She was referring to the annual Wayne County Treasurer's Auctions. There are thousands of properties that get listed but just like the thousands that are listed on the MLS, you need to have your research completed to know the neighborhoods and addresses before you go looking. In the past few years, the deals are not as plentiful because prices are getting bid up.

[Jamiel Strickland]

@Lennon Turner,

She was not referring to the Land Bank but the actual tax auction by the city. They are two different ways to but and she buys in the October one. That is usually the best one to buy in during the October auction.