Hi BiggerPockets. I would like to start investing in tax liens. I live in NYC and learned they only sell to institutional investors. Where is a good place for me to invest? I've heard NJ can be complicated and very competitive. I've heard I should pick someplace I can drive to and check out the properties. I would be happy with having the lien redeemed. I would also be happy obtaining the property (however, I don't yet actually have a team of contractors just yet as I don't know what area to target). Any advice on which locations / county to research first? I am willing to travel out of state but for my first time I think it makes sense to stay close to home (if I can).
Check out @ned Carey as he has a lot of knowledge on tax liens. I dabbled in them briefly about six years ago before getting into notes as I found there to be a lot of competition and institutional investors who have cheap money are happy with getting 5% ROI's. Not to say deals couldn't be found but i don't believe it's as simple as some people make it out to be and Ned gives he no bs opinion on the pros and cons
@Chris Seveney thank you I'll try to look him up.