Tax Lein List Service
Hi BP Family:
I wanted to ask what the groups experience had been with utilizing services that provide list of homeowners who are delinquent on taxes or have current violations on their property? Have you successfully use these list to close deals? Any such services to avoid? I’m looking to get started with wholesaling and would appreciate any advice on identifying prospects.
With appreciation,
Peter.
@Peter Paxos I am not a direct mail guy so I don't know much about list sources. I am sure someone provides this information for some areas but generally most of this info comes from local sources. City or county websites are a good source. Unfortunately it is not often composed as a "list"
Quote from @Peter Paxos:
Hi BP Family:
I wanted to ask what the groups experience had been with utilizing services that provide list of homeowners who are delinquent on taxes or have current violations on their property? Have you successfully use these list to close deals? Any such services to avoid? I’m looking to get started with wholesaling and would appreciate any advice on identifying prospects.
With appreciation,
Peter.
Of course it depends on the State you live in. There are tax lien states that do annual auctions for the tax liens. In these states you may get a list up to 30 day prior to the auction day so that you can analyze the different types of properties. This list will truncate weekly up to the last day the owners (or friends and banks) can pay. You will get an updated list on auction day. I highly suggest going to one first. You can register if you want but attend one. You will notice that the auction is many times over the actual back taxes due. Seems to be an average of 10x. I have seen auctions go up with 85% of the value of the property BTW. There is also seats for the whales that include banks and large cash holders. Best properties go to a % of the value and rest are just a simple multiple of taxes due.
After the auction, there is a grace period. Maybe 12 months. The current owner can pay back the full amount due to the city/county/state plus additional fees plus a % due to the winning tax lien auction owner. IF this is not paid in the 12 months.....yup. Ownership transfers from property owner to the tax lien winner.
