Can Anybody Can Tell Me Something More About “buy Tax Lien Certificates”, It Is A Good Idea. Thanks?
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on Thursday, February 11th, 2010 at 10:45 am and is filed under Tax Lien Certificates.
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When you purchase a tax lien, you are, in effect, paying off the delinquent property taxes on the property in question, and get a lien in return Laws in various states vary widely on how tax liens can be redeemed by the current owner of the property. In some states, the owner has up to a year to redeem the property (pay off the lien), and you are stuck with a measly 4% return, under law, for your investment.
Investigate thoroughly before you jump into this one.
If you have plenty of capitol and plenty of time they are not so bad. You buy the lien, in other words the debt. After that it is you that is owed the money and the interest (which is high). The problem is collecting, often you will not be able to collect until the property is sold.
why would you want to buy a lien on a house? well i suppose this is just a scan… most liens on propertyies are from mortgage company or some other debt-based service…
Investing in tax liens can be a really good investment if you know what you are doing. It isn’t as easy as it sounds. I suggest reading several books on the subject before jumping into it. Check on amazon under “tax liens” and then see if those books are available at the library if you don’t want to purchase them.