what is the smallest amount you have paid to acquire property through tax liens?
Had a tax lien for $3.02, $3.00 was publication fee and to transfer the 1 acre and trailer would have been about $88.00 total, but they paid me off...
Working in Indiana doing our own title searches and notifications but using an attorney to claim the tax deed we have gotten empty building lots for under $450. The tax lien itself was only $35.
In MD I believe the minimum past due before a property can go into tax sale is $500.
We recently took a property with an original lien of $805.19. However our bid was $8261.54. The property was listed for $119K!
The property was newly renovated but frankly overpriced. We worked out a deal with the original owner to accept a $28K premium over what we would have been due as a redemption (lien interest and legal fees). So our original $805 investment returned $28K in about 15 months.
Keep in mind there is a big difference between what the original lien amount is and the amount it ultimately costs you to take title to the property via foreclosure.
I recently purchased a lien in Florida for $58.00. It is going to cost me $824.00 to forclose. The property has a market value of $9997.00. My exit strategy is to flip the property to a neighbor for 6 or 7 thousand quickly. I will let you know how it all works out.
@Jenel Marable how did you make out?
Hi darrell here i also like to get into tax liens. I have the general idea about it but still looking for more information on this. So do anyone have some site or suggestions to get started
@Jenel Marable I am also interested in how it worked out. I was also thinking that it would cost more than 824 to foreclose so if you could share some info on who you used, that would make my day :)
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