Hello everyone, I am looking to invest in tax liens in Maryland. Anyone with any experience? Or has anyone ended up acquiring any properties thru tax liens in MD? Pl advise. Thanks!
@Amanda Seth yes I have been investing in MD tax liens for 15 years. This is my full time business and I acquire many properties every year. We have bought liens in 4 counties and foreclosed on properties in three different counties. The 4th county we only bought two liens and they both redeemed.
I have done very well with tax liens over the years, but just like every other strategy right now it is very competitive. This year we bought significantly fewer liens and paid significantly more to get them. That was in the Baltimore city tax sale. That is the sale we do the most in.
As an example of the competition; we won a lien last year for $10k. The same property went back into the sale this year. We bumped our bid to $18k because we were expecting more competition. The winning bid was $32k, more than triple last years winning bid on the same property.
There are lots of posts here about tax sale and specifically about Baltimore city an MD tax sales. If you have a specific question do a search or post again.
@Amanda Seth yes I have been investing in MD tax liens for 15 years. This is my full time business and I acquire many properties every year. We have bought liens in 4 counties and foreclosed on properties in three different counties. The 4th county we only bought two liens and they both redeemed.
I have done very well with tax liens over the years, but just like every other strategy right now it is very competitive. This year we bought significantly fewer liens and paid significantly more to get them. That was in the Baltimore city tax sale. That is the sale we do the most in.
As an example of the competition; we won a lien last year for $10k. The same property went back into the sale this year. We bumped our bid to $18k because we were expecting more competition. The winning bid was $32k, more than triple last years winning bid on the same property.
There are lots of posts here about tax sale and specifically about Baltimore city an MD tax sales. If you have a specific question do a search or post again.
@Amanda Seth yes I have been investing in MD tax liens for 15 years. This is my full time business and I acquire many properties every year. We have bought liens in 4 counties and foreclosed on properties in three different counties. The 4th county we only bought two liens and they both redeemed.
I have done very well with tax liens over the years, but just like every other strategy right now it is very competitive. This year we bought significantly fewer liens and paid significantly more to get them. That was in the Baltimore city tax sale. That is the sale we do the most in.
As an example of the competition; we won a lien last year for $10k. The same property went back into the sale this year. We bumped our bid to $18k because we were expecting more competition. The winning bid was $32k, more than triple last years winning bid on the same property.
There are lots of posts here about tax sale and specifically about Baltimore city an MD tax sales. If you have a specific question do a search or post again.
I also purchased a couple of liens in Baltimore City, MD this year. It was definitely an interesting experience. What percentage would you say, you were able to foreclose on those properties?
@Zulu Black traditionally we have foreclosed on 10-15%. However we specifically target properties we believe have a higher probability that we will be able to foreclose. The overall percentage is probably more like 5-8% average over all bidders.
Over the past few years we have been bidding on higher quality properties so I bet even our percentage has dropped some.