Investor · Washington, DC · Member since 2016 · 175 posts · 73 votes
Hi BPers,
I'm wondering if there are any companies that go to tax lien auctions and buy them and resell them. I'm looking to make a nice return, but don't really have time to go to auctions, especially if they are in different states. Which begs the question, can you resell a tax lien and transfer ownership to someone else?
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
7y
@Aaron Smith There are companies that exist solely to travel around the country and buy tax liens. I have talked to some of them and they seem to keep everything they buy to get the interest rate. Most of these companies go after the nicer properties that they expect to redeem. This is what I have seen from my experience.
I have seen people at auctions that are buying for other people, not sure of the specifics of how that works.
Yes you can assign a tax lien to someone else as I have done it.
It would seem the best way to go about what you are wanting to do is hire someone or a company to go to local auctions on your behalf and only buy stuff you are interested in at a price you specify.
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
7y
@Aaron Smith There are companies that exist solely to travel around the country and buy tax liens. I have talked to some of them and they seem to keep everything they buy to get the interest rate. Most of these companies go after the nicer properties that they expect to redeem. This is what I have seen from my experience.
I have seen people at auctions that are buying for other people, not sure of the specifics of how that works.
Yes you can assign a tax lien to someone else as I have done it.
It would seem the best way to go about what you are wanting to do is hire someone or a company to go to local auctions on your behalf and only buy stuff you are interested in at a price you specify.
I'm open to anywhere, but some states are better than others. Georgia and Texas are appealing, as is Illinois, with the high return potentials. Do you only buy them in Ohio?
Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
7y
@aaron smith Yes as that is where i have my team set up. Many say, I will buy anywhere, ok then what ? Who is going to inspect the property , do the repairs, and all PM. ? Cleveland has been very good to me with high ROI,
Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
7y
@ skidis, save your money, and time. Simply find someone that is actually doing deals vs selling you books and tapes. BTW, what the heck are they going to talk about for 3 days ? Find a company in your area that buys them and simply buy them from them, simple.
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
7y
@Aaron Smith....for Texas you want to connect up with @arnie abrahamson......he has a program where he can bid for you at the sales. He's an expert and doing it for years.