Tax Liens and Tax Deeds. Tools and Calendar

54 Replies

I’ve been personally investing in tax lien certificates lately.

If you don’t know what tax liens are, basically when a landowner or homeowner fails to pay the taxes on their property, a tax lien certificate is issued by the municipality that reflects the amount owed on the property, plus any interest or penalties due.

These certificates are then auctioned off to the highest bidding investor. Tax liens can be purchased for as little as a few hundred dollars for very small properties.

The problem is that each state and county have its own regulations: they issue sale lists of tax liens certificates throughout the year, and auction dates are also different.

Also, some states hold auctions once a year, some twice a year, some every month..

So, I went on a rabbit hole and compiled a list of the next auction dates:

November: Colorado, Illinois, Louisiana, Montana, New Jersey, Ohio, Pennsylvania, Vermont, West Virginia

December: Illinois, Louisiana, Montana, New Jersey, Ohio, Pennsylvania, South Carolina, South Dakota, Vermont

January: Arizona, Louisiana, Montana, New Jersey, Ohio, Pennsylvania, Vermont

I actually have the whole year mapped out with websites where you can get the sale lists. I did it in a Google Spreadsheet here:

https://docs.google.com/spread...

Feedback wanted

I hope this research buys me a little goodwill in order to ask you for feedback on my new project.

Since I’ve seen how difficult it is to gather good information on tax liens, I’ve partnered with 2 other lien investors and made a website called FastLien where you can get upcoming sales lists with a click of a button.

If you end up trying the site, please give us some feedback as we are working hard on it!

Thanks,

Omar

Where are you and where are you buying?

Nice work on the spreadsheet.   Do the dates stay the same each year?

Around me it seems to change all the time...except almost always 1st Tuesday in Texas.

As you mention though, some have monthly and some quarterly, some yearly, and plenty when they just feel like it....or have enough properties to put in the sale.

So SC is not accurate.

Every County sets their own schedule. They are usually Oct, Nov, Dec. They rotate so that the end of a 12 month redemption period is not in the same month as the tax auction. You pretty much have to check with each county to see when their auction is for that year. Sometime an adjacent county for me is in the same month even same day, but more often than not they are in different months. 

Hope this helps.

Are you attending multiple state auctions? I personally just attend 1 to 3 auctions in my home state of SC.

Hi Bruce, 

the calendar is good for a high level vision, but you're right, it's not so easy to check all auction dates, find listings, and keep track of current investments, that's why we developed fastlien.
Every day you can see the listings you are interested in and all related information, plus a lot of other things :)
I would be very happy if you try the SW so I can get your feedback, you can just try it for 7 days for free.

Originally posted by @John Underwood :

So SC is not accurate.

Every County sets their own schedule. They are usually Oct, Nov, Dec. They rotate so that the end of a 12 month redemption period is not in the same month as the tax auction. You pretty much have to check with each county to see when their auction is for that year. Sometime an adjacent county for me is in the same month even same day, but more often than not they are in different months. 

Hope this helps.

Are you attending multiple state auctions? I personally just attend 1 to 3 auctions in my home state of SC.

Personally, I attend as many auctions as I can :)

I actually have my list of favorite states and counties, but with good organization and a detailed plan there are no limits if you operate online.

I am new to tax lien properties.  Can someone provide your thoughts on the following questions, please?  I would deeply appreciate your help.

1. Are you all hiring a court runner or lawyer to research the properties in order to make sure Tax lien is the only lien against it?   or you all don't think it is necessary?

2. The properties are not available to see prior to the auction,  how are you determine that is manageable?

3.  I read it somewhere,  you don't have the title after winning the bid.  It will take up to 15 years to get it legitimized with the title?

Thanks

Originally posted by @Yi O. :

I am new to tax lien properties.  Can someone provide your thoughts on the following questions, please?  I would deeply appreciate your help.

1. Are you all hiring a court runner or lawyer to research the properties in order to make sure Tax lien is the only lien against it?   or you all don't think it is necessary?

2. The properties are not available to see prior to the auction,  how are you determine that is manageable?

3.  I read it somewhere,  you don't have the title after winning the bid.  It will take up to 15 years to get it legitimized with the title?

Thanks

1) No it's not necessary, there is a lot of information available online or easy to retrieve by the county. You can do a good title search for your own, obviously, you have to do good due diligence

2) The same as above, you can use a bunch of online tools (starting from Google Maps e.g.) and use specific services to get photos of the property

3) It's wrong. If you are talking about Tax liens you aren't buying the property but the credit of the unpaid taxes on which gaining interest. Instead, if you are referring to Tax Deeds you will have a Tax Deed title that gives you all the rights on the properties right after the auction

 

Originally posted by @Yi O. :

3)  I was talking about the tax deed sales.   and it seemed a lot insurance companies won't offer service for that deed.

You simply have to quiet title that can be done with a lawyer or specialized services.

 

@Arthur Neves, the risk on Tax Liens is almost null if you do good due diligence.

The pain in the *** is doing the research which takes a lot of time, this is the reason we developed a tool to help us 😜

Originally posted by @Yi O. :

I am new to tax lien properties.  Can someone provide your thoughts on the following questions, please?  I would deeply appreciate your help.

1. Are you all hiring a court runner or lawyer to research the properties in order to make sure Tax lien is the only lien against it?   or you all don't think it is necessary?

2. The properties are not available to see prior to the auction,  how are you determine that is manageable?

3.  I read it somewhere,  you don't have the title after winning the bid.  It will take up to 15 years to get it legitimized with the title?

Thanks

 I only go to auctions in person. Nothing online. These have too much exposure and competition.

I drive by every property that I am willing to bid on.

In SC I get a deed and own the property.  

I use excel and the county websites to easily lookup properties. 

I do not pay for courses or services. Everything is readily available for free that I need.

I can remove cloud on title by hunting down previous owners and get a Quit Claim deed from them. I ask for  mortgage release if there was an old mortgage.

I then get title insurance and can sell with a General Warranty deed. 

some of my landlord friends dont suggest me to get into it.  Saying it is just too much of work.   I would like to dig in abit and try to find a way in the business.   So far, i only own single-family houses and a duplex ( on investment loan).  

Originally posted by @John Underwood :

I can remove cloud on title by hunting down previous owners and get a Quit Claim deed from them. I ask for  mortgage release if there was an old mortgage.

I then get title insurance and can sell with a General Warranty deed. 

Yes, the Quit Claim is what we use too to buy properties, with a Tax Deed you don't even need to release the mortgage because it does not survive the auction.

 

Originally posted by @Omar Bortolato :

I’ve been personally investing in tax lien certificates lately.

If you don’t know what tax liens are, basically when a landowner or homeowner fails to pay the taxes on their property, a tax lien certificate is issued by the municipality that reflects the amount owed on the property, plus any interest or penalties due.

These certificates are then auctioned off to the highest bidding investor. Tax liens can be purchased for as little as a few hundred dollars for very small properties.

The problem is that each state and county have its own regulations: they issue sale lists of tax liens certificates throughout the year, and auction dates are also different.

Also, some states hold auctions once a year, some twice a year, some every month..

So, I went on a rabbit hole and compiled a list of the next auction dates:

November: Colorado, Illinois, Louisiana, Montana, New Jersey, Ohio, Pennsylvania, Vermont, West Virginia

December: Illinois, Louisiana, Montana, New Jersey, Ohio, Pennsylvania, South Carolina, South Dakota, Vermont

January: Arizona, Louisiana, Montana, New Jersey, Ohio, Pennsylvania, Vermont

I actually have the whole year mapped out with websites where you can get the sale lists. I did it in a Google Spreadsheet here:

https://docs.google.com/spread...

Feedback wanted

I hope this research buys me a little goodwill in order to ask you for feedback on my new project.

Since I’ve seen how difficult it is to gather good information on tax liens, I’ve partnered with 2 other lien investors and made a website called FastLien where you can get upcoming sales lists with a click of a button.

If you end up trying the site, please give us some feedback as we are working hard on it!

Thanks,

Omar

Many counties in many states are using Real Auction for the sale of tax liens.  

Online Auction Sites - Realauction.com, LLC

 

Im new to this.  Is there a particular state that's preferable to purchase deeds in than others? I see that some investors like to drive by the properties while others will purchase online.