[Tricky1549]

Has anyone bought/invested in Tax liens? If so what are the benefits/downside of them? Thank you

[Fr_Chuck]

I have bought dozens of them.

Rules vary by state. Most where I have done, you get tax certificate, have to wait 1 to 3 years to redeem, to give owner chance to pay. Positive side, most allow for 10 percent additional interest, so if they do pay you make 10 percent on the money

Neg, you don't know for a year or more if you will actually get to keep property.

Always made money

Neg, most properties have taxes paid, so out of 100 advertised property, normally only 10 sell the day of the sale, so there is no way to have looked at all of them, often buying sight unseen.

[joypulv]

Fr_Chuck, where were yours? Around where you live?

[Tricky1549]

Thanks for the answer. Do/should the properties have to be mortgage free?

I have bought dozens of them.

Rules vary by state. Most where I have done, you get tax certificate, have to wait 1 to 3 years to redeem, to give owner chance to pay. Positive side, most allow for 10 percent additional interest, so if they do pay you make 10 percent on the money

Neg, you don't know for a year or more if you will actually get to keep property.

Always made money

Neg, most properties have taxes paid, so out of 100 advertised property, normally only 10 sell the day of the sale, so there is no way to have looked at all of them, often buying sight unseen.

[Tricky1549]

Fr Chuck, did you take a class/onlIne Info sIte that sells a how to ,to learn how it buy lIens? Thanks