All Forum Posts by: Russell Brazil

Long story short, a former tenant still owes multiple months of rent. In their final message to me via email, they stated that they are filing for bankruptcy and warned that any attempt to sue or collect the debt would be considered harassment.

I checked PACER and have not found any bankruptcy filings under their name. I believe this may have been a false claim intended to avoid being sued for the remaining balance owed.

Any advice on how to proceed would be greatly appreciated.

@Russell Brazil Thank you! I have two questions: 

1- is the crawling space ventilation only fall into building codes? Closing all the vests to crawling space can be part of the existing problem or not? 

2- I understand the statute of limitations. Does it from the construction time, or the time we learnt about the problem? the moisture, mold and floor issue is sth that just recently appeared. 

The foreclosure rate for pgc tax liens is basically 0%.

meaning, most liens get redeemed.

the maryland department of assessments and taxation (SDAT) releases a tax lien report, which is sent to the governor.

no property shows as foreclosured in the 2024 report.

I'm thinking maybe there is another strategy at play (at least in PG county).

-Kareem

Today I participated in my first tax lien auction in PG County, Maryland.

It took weeks of prep work to....

 - aggregate information from various public sources

 - define my criteria and perform data analysis

- review last year's tax sale results to get a ballpark of where I need to be with my bids

- drive to each target property to see the condition

- and etc. 

I was ready and excited to jump in. There were 3 batches and I placed bids in all of them.

I waited patiently for the results of each round only to get let down b/c I didn't win a single lien.

My 2025 post sale analysis (see below) shows that bidders are bidding so high that the bid premium is eating away at the interest rate.

What could be 20% interest is turning out to be mostly 2-6%.

You can get better returns from the stock market.... Heck, you may be able to get better returns from CDs at some banks!

So this is my question... why would anyone want to go through such an ordeal for such minuscule returns?

Why would the top 10 bidders invest millions of dollars for just 3%, 4%, and 5% interest? Couldn't they get a better ROI elsewhere?

I wanted just 12-15% returns, but I didn't even stand a chance.

Effective Interest Rate when including Bid Premiums

Top 10 Bidders

-Kareem

Hi! I have a duplex in Baltimore City and currently not having a good experience with my property managers. I need a 1 bedroom in a Duplex turned over and looking for referrals. Thanks