All Forum Posts by: Jerry K.

@Jerry Tello for what it's worth, I invest in tax liens in AZ. I have several blog post articles about I've done with my lien investing. One article was about OTC liens. I randomly picked three OTC parcels in an Arizona county and did some basic research. You may find that post interesting. Here's a link Tax Liens - Over the Counter Junk or Needle in a Haystack? 

I had good luck with one lien that was OTC. I made 16% on over $10k for over a year. 

@Mike Neubauer I'm a tax lien investor in Arizona parcels, and after a lifetime of living in Illinois and only visiting AZ - I'm making the permanent move in a month to AZ. As far as landscape photography, Arizona has vast opportunities for that. Heck my Biggerpockets profile page is just part of one of my Sedona shots. Spend some time exploring the state and you'll be richly rewarded.

I invest in tax liens in Arizona. I would not call myself an "expert" but I have been investing Arizona liens since 2010. I have some articles about what I do on a Biggerpockets blog here: https://www.biggerpockets.com/... I invest mainly for the interest rate return, not to get the property.

I'm a tax lien investor and have had a few parcels where the only improvement was a billboard. I have not foreclosed on them, but I did educate myself on the billboard business. Frank Rolfe who occasionally posts on Biggerpockets, and has been on the Biggerpockets podcast, (but for his mobile home park investing expertise) ran a very successful billboard business. He also has a course and website for his billboard expertise. I bought his ebook on how to negotiate a land lease with a billboard company and it's a great starting point for learning how billboards can create an income stream with no tenants, toilets, or termites. Get a few in your Roth IRA and you build a nice steady income stream in retirement with no income taxes. Do a search on his name and "Outdoor Billboard" and you'll find his website.

I'm not familiar with CO law. Talk with a CO real estate attorney who specializes in tax lien foreclosures for your state. My experience with AZ tax lien foreclosures is all lien holders get notified of the tax lien foreclosure. Those lien holders (except the IRS lien) are below the real estate tax lien in precedence. Those subordinate lien holders would have to pay the tax lien holder their principal and interest in order to keep their own lien viable. If none of the subordinate lien holders pay off the real estate tax lien holder, then the foreclosure judge can grant the parcel to the tax lien holder - which makes the subordinate liens null and void (wipes them out). This is only for a "judicial" tax lien foreclosure like they do in Arizona. Not sure about Colorado or other states. Again, I'm not a lawyer so take my statements as being only from an investor.

@Scott Anderson I've bought tax liens in Arizona for years. I had one in Pinal county a few years back that I earned 16% interest for a few years and began foreclosure. After the foreclosure was started, the owner paid. He had to pay all of the principal, all of the interest and all of my attorney fees for the foreclosure up to that point. I had paid my lawyer $65 to do the 30 day "intent to foreclose" letter - that was not reimbursed - but all other costs were paid by the seller. I made a few thousand in interest at the 16% rate over the 3 year period.

@Alan Matthyssen welcome to BP. Nice introduction! When looking for a mentor instead of asking to "shadow", offer to help them in their business. Make a commitment to do research for them for a set time (6 months, a year, etc). It's easier to get someone to help you - if you help them. 

@Kyle W. did a great summary for Arizona. I have been investing in tax liens in AZ since 2009. One point I want to ask Kyle - are you sure the property goes to auction after the 30 day foreclosure letter? That is not what has happened in my tax lien foreclosure cases. That is how they are done in Florida, but in AZ my experience, once the foreclosure actions is complete the lien holder who foreclosed gets the property. I have not done a foreclosure in Maricopa county, but I haven't found a statute that mentions after the foreclosure the parcel is auctioned to highest bidder. 

Wow, I guess no flip is simple, but an HOA board is just another layer to please.

Good luck with sale and thanks for responding!

Jerry

Wow, @Anna Watkins, thanks for the update. Great education for the rest of us.