All Forum Posts by: Patrice McCloud

Hi talescia,

Great to see you here as well!!! Sorry for the delay! This was a heavy research week and I am still researching. The life of a newbie investor....see you around!

BP member @Ned Carey has done some tax lien purchases and may have some insight on how you could proceed as well. I've read a lot of his and other members' posts under the tax lien, tax deed forums.

I have just recently been researching tax liens and deed sales as an investment niche. My research has shown that tax deed sales are just as popular as regular auctions due to the opening bid prices. (they can be as low as $1,000). What's even more intriguing about the process is that only governmental liens survive the sale, which could mean mortgages, back HOA dues are wiped out. (Double check for the laws/procedures in your state). So your thought process of using tax deeds or even liens to acquire properties is a great one to explore.

Please remember as with any properties acquired in this manner, it's Buyer beware.  Typically, most tax liens/deeds are redeemed by the owner or some other entity. So while you may find some gems, most need significant work. Here are some options:

Option#1--After doing your due diligence on the property, contact the company to negotiate acquisition. If it goes to a tax lien certificate sale again, it would take two more years before you could acquire a chance to purchase the property. By that time, it would not even be worth it. 

I came across a similar situation in my research just yesterday where a company that purchased a lien and was issued a deed, now owes back taxes on that property. It is now on a county "lands available" list. I purchased the list ($12) and all the properties available to purchase are on that list.

Option #2--(based on the above scenario) Contact the county to see if that property is on their list. If so, and you are still interested in the property, you could purchase it from the county.  

However you choose to proceed, you have options to make tax deed property acquisitions work for you in this case. Keep me posted on how this turns out.

Welcome @Tatiana W.  

I recently joined as well, so I definitely can relate. It's great that you have someone who knows how investment works in your corner. The information on BP is priceless!

 See you around!

Hi @Angie B.

Based on the fact that the company that owns the tax lien certificate is the owner of the property indicates that the property itself reverted to them at a tax deed sale.  This means that the original owners of the property did not "redeem" (pay off back taxes) the property within a set period of time. (Please note: This process depends on your particular state.)  In Florida, the process is that the certificate owner exercised its rights to sell the lien to the highest bidder. No one placed a bid on the property, so they became the owners of the property.  (The deed is issued in the company's name.)

From my research (no hands-on experience yet), the companies that buy tax lien certificates do not want the properties, just the money invested plus the interest (It can be very lucrative!).  With that said, you may have a great chance of getting that property if you inquire. 

Best wishes!

 Welcome,  it's great to know there are more people out there who new just like me.  May we grow in success by what we learn!

Hey Brandon...I feel like I already know you  with all the podcasts I have listened to so far!! LOL.  Both you and Josh have me laughing with your "Quick Tips" (singing); I have thoroughly enjoyed what has been presented. I have learned a ton and am looking forward to learning more so I can, too, find success as well as pay it forward.  

Thanks again!

 Thanks Dave!!! I will be looking at the link you provided.  Looking forward to being a part of this community.

 Thanks Mehran!  I am hearing that about Jacksonville as well.  I have picked the right time to become an investor.  Looking forward to listening to your podcast and gaining knowledge about real estate investing.

@Wayne Brooks...LOL, I hope that's the case.  I was very concerned when I saw that!!!