Carroll County MD, Tax Lien Redeemed
Investment Info:
Small multi-family (2-4 units) other investment in Westminster.
Purchase price: $5,637
Cash invested: $5,637
Sale price: $6,000
This property is the 2nd of 3 tax liens I purchased at the Carroll County tax sale held in July 2018. Compared to my other redeemed property this lien took several months longer to be paid back ( 5.5 months), therefore I earned a bigger profit on this lien. The delinquent tax payer redeemed 5.5 months after the tax sale, so I received 6.4% interest on my original investment as the yearly interest rate in Carroll County is 14% .
How did you find this deal and how did you negotiate it?
I found this tax lien opportunity from the Carroll County tax sale website, which provides listings for all properties included in the yearly tax sale. In Carroll County, bidding is done auction by surplus, not interest bid down method. Carroll County holds live auctions only, with no internet or over the phone bidding options.