All Forum Posts by: Will Sifert

 Yes, the 5% is good if they redeem real quick but if they keep it for couple years you make a whole 5% total. 

 That is one of the main reasons my strategy is vacant land. In most cases the hedge funds are only after the interest and want redemptions. They usually just bid on houses and not vacant land so I usually don’t have to compete with them. 

The 5% min is apparently enough interest for them to be interested in bidding in Florida. They most likely won’t be bidding 0% interest so if you just going after deeds and not concerned with interest you could beat them in states that bid down to 0% with no min guarantee.  Also they aren’t likely to bid high amounts in premium bidding state that don’t return the premium bid (Colorado, Mississippi etc). 

They love states like Louisiana and Iowa where you bid down % of ownership instead of interest rate. They will bid the lowest amount of ownership with our worry as what they bid on will redeem 99.9% of the time.

 I had Florida explained to me once and I have no interest in ever bidding in that system. It’s a hybrid because when you buy a tax lien if it’s not redeemed the property goes to auction to the highest bidder (like a deed sale). 

Yes the 1/4 of 1 percent interest is the rate  a lot are bidding to win the lien. I think the sub taxes may make the same rate can’t remember. There also is a min % you can make like 5% so if they are redeemed right away it’s a decent return. Also if the lien doesn’t get redeemed, the time period after redemption period expires till when the deed sells they make a much better set interest rate for those couple months. But when you add it all up it’s still a very bad rate of return and I really don’t like that you don’t get the deed if the lien isn’t redeemed. 

That is to the best of my memory, might not be 100% correction. 

 Wholesale to dad. Practice and develop your skills on finding deals. Knock on doors, research, send letters, find great deals that need to be rehabbed. Present them to dad and make money selling them to him. Then shadow him on what he does to rehab and flip them. Save all the money you make from wholesaling. Then when you have enough keep that next deal you find for yourself, pay cash and rehab it and flip it yourself. 

Hi, I just paid the $10 for a Guest to participate through the zoom call. Looking forward to it. 

Read the title, thought the questions was going to be about which one has the highest crime / murder rate ;) 

 I have had about 20 redeem already (10%). It hurts a little each time I get a check but I keep reminding myself I know that almost all will redeem, so it's part of the process. It's about what is left over after 3 years that will matter. I bid in about 12-15 counties to try out different areas, next year I will spend less and focus just on 3-4 counties.

It's likely rare, but it's in the CO statutes that if someone is disabled at the time the deed is issued they have like 9 years to try to get it back. I believe a quiet title suit would take care of that exception.

Most of the areas I bid were flat but the counties that were in the mountains I made sure to look at the topography maps and there were some that had big issues with terrain. 

 John you make it tempting to travel to SC for tax lien sales. I believe you said they are all in person. How many counties do you bid at ?

 Denise Evans or google "Greg Stanley attorney Alabama" both are attorneys in Alabama that handle tax sale properties and education. About 1/2 of the counties in Alabama handle tax liens completely different from the other half. It's like two separate states in one. 

You will need to talk to an AZ attorney or someone here who knows AZ law well. The law varies from state to state. Where I live there would need to be some type of succession done to legally transfer ownership from the deceased to his heirs, that would need to be recorded. I imagine that is similar in most places but not sure. You would also want to make sure there are no other liens or other people with an ownership interest in the property. If they sign over a simple quit claim they are just transferring *their* ownership interest in the property. Which is great if they own it outright 100% but no good if there are others who own a % or liens on the property. To make sure it is done right you really need to have an AZ real estate attorney review everything for you.  If there are no other liens on the property and everything checks out, it would be much cheaper to have the owner do a quit claim vs tax lien foreclosure lawsuit.