Baltimore tax lien investing-- what are the winners bidding?

5 Replies

I am curious as to whether anyone can give some insight on what the winners are bidding recently in Baltimore tax lien sales. I want to participate this year, but I have only done live auctions before. Obviously I don't want to pay 100 dollars to register, research a hundred properties, and then get skunked because my bids are too low. Neither do I want to bid too high and not be able to foreclose profitably. Can anyone give some insight as to how far into "high bid premium" territory Baltimore tax lien investors are generally bidding? 

Almost surprised that there has been no response, as yet. Must be the Easter weekend that is keeping folks from giving you answers. I am following this thread because I am interested in tax liens. Hope we get the info you are seeking. 

You're in luck - two of the most prolific people in tax lien investing are speaking THIS Weds at the BWI Meetup.  @Ned Carey who, along with his investment partner, has the corner lock on tax lien investing in Baltimore (in terms of know-how and experience) and Anthony Onwuanibe who is a tax lien attorney.

This meeting is FREE - you will learn a ton.  I highly suggest you make every effort to make it.  Ned has most likely not responded as he and his partner drive by 5,000 + properties before the tax auction in May.  The list just came out in mid March. 

what you need to do to figure out what your maximum is to be profitable.....aka, what a house is worth given what condition it could be in (which you will more than likely will not know), your costs to foreclose/take possession, your costs to sell, etc.....all your costs must be figured out.....once you have the math, you know what your highest bid number don't bid based off what others are willing to pay (a largely impossible number to know), you buy based off what you are willing to pay.

@Nevin Young   TOP SECRET TIP  I didn't even mention it in my talk last night. 

When you sign up you can look at previous years bids. 

In general very nice properties are bid up to 50-55%. Lesser quality properties can sometimes be picked up for just lien amount. the attorney i spoke with last night puts in a lot a lien only bids and gets a lot of liens. 

Thanks Ned. I am looking for "lesser" properties, which I define as being fairly assessed (note I said fairly) at $120,000 or below.  I will likely bid in a range as an experiment, to see what is the general feel for the first batch that I am bidding, and then back off if I seem to be winning "too much." Again, thanks for the input, your advice is greatly appreciated.

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