Foreclosure/Tax deed auction

11 Replies

Hey Guys,

I'm new to real estate investing and I'm looking for advice on tax deed sales and foreclosure auctions. Mainly on how to beat the crowd and competition through creative strategies. 

Where can I get some pointers?

Thanks

Do more work than the next guy or the average guy.  Research more properties, visit more in person, know what your buying, know your rehab costs inside and out, plan for contingencies, buy smart.   Don't get tied up in bidding.  Bid what you know, and know your exit strategy.   Some people can out bid you, but you never have to let them out work you.

Tax delinquent list is usually public information so I would suggest check your county's website to seek out that information. Try and find out when the tax delinquent list is released (normally a month prior to going up for auction) then reach out to these individual see if they willing to sell before if goes to auction. In my county the tax property sales go for auction every second Tuesday of each month 

We provide tax delinquent information along with all the owner information for you to contact them prior to auction. Also you can see the picture of each property along with its land/living sqft and if it has any exemptions.
Contact me directly if you are interested.

@Mendy Dubov

What state are you looking in, for tax properties?

In Arkansas, the COSL website has a lot of good information. www.cosl.org.

I often meet with investors who want advice before these auctions, here in Arkansas. Maybe you can find an attorney in your area who is knowledgable about the tax deed process and can sit down to answer your questions before the auction.

Originally posted by @Steven Daniels :

Tax delinquent list is usually public information so I would suggest check your county's website to seek out that information. Try and find out when the tax delinquent list is released (normally a month prior to going up for auction) then reach out to these individual see if they willing to sell before if goes to auction. In my county the tax property sales go for auction every second Tuesday of each month 

 Like this idea. Thanks

We are in Texas and will be attending our first foreclosure auction later this week. We have done our homework: driven by all the properties, estimated rehabs, run the numbers, and looked on the county clerk website to see if there are any additional liens on the property. 

I am nervous that we are missing something big that could cost us a lot. Any other steps anyone recommends to make sure we don't get in over our heads?

@Preston Lyons Make sure you identify the type of foreclosure sale, be it a tax, bank or hoa foreclosure. In our county auctions tax and hoa foreclosures are lumped together so I could see how a newbie could get confused.  Lien priority and redemption periods vary with each type of foreclosure in Texas.