- spierreyoungMember@spierreyoungJoin Date: 2007Post Count: 14
I am looking at the Lee County tax collector's website. http://www.leetc.com/search_criteria.asp?searchtype=TCCO&c=taxes&r=24&page_id=searchcriteria
It seems to me that for 2011 county held tax liens, there is a couple available under "Land Use: 01". So, all "01" (i think they are the code for land with a building on it) are almost sold out?
Could any one who are investing in tax lien let me know, please?
the locals that have been doing it for years will kill you
Anyway, it does appear this year to be not as many Over the Counter ones available however there are plenty available in other Counties around Florida, start researching. Most states aren't as User Friendly as Lee, but they are out there.spierreyoung wrote:really?
to put that into context. You can buy tax liens that never redeem and you just loose your money and the properties are worthless and not worth perfecting title on. Happens every day of the year in this business.
when you go to the sales you wil see who the players are they are all set up with their lap tops and have 3 or 4 people they do it for a business. the average investor is just throwin dice
This is why you do your research and due diligence on the liens you purchase. Have a look at Tommy Senatore’s Tax Lien Video. Spierreyoung I have been investing in liens in many counties, if you would like a more realistic opinion message me.petejac1 wrote:This is why you do your research and due diligence on the liens you purchase. Have a look at Tommy Senatore's Tax Lien Video. Spierreyoung I have been investing in liens in many counties, if you would like a more realistic opinion message me.
if you run it like a business and put the time and effort into it yes tax Lien investing can. work my point is the average viewer on this site sitting in front of a computer half a world away has a little more trouble figuring out what to buy and conducting their due diligence.
I am just saying there is a good chance that you can buy one that is worthless, and the really good ones get bid down to where the return is under 10% and in some case's much lower. Then you have the guys that really want to perfect title and own them and of course that is a whole kettle of fish altogether.Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763
Got a tax lien redemption today, in fact. $700ish in interest over four redemptions (in one cheque).
I can't fault it thus far, but I do have about 30 liens I have to start foreclosure on. It will be interesting to see what happens.
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
Success comes from doing things differently
are you going to make sure the properties have any value before you spend the money on foreclosing?
Tax liens are a crap shoot some payoff like you experinced and some won't and you will have lost all your money.
The other issues is if its a home and someone lives in it, your going to be hard pressed to get a judge to give you title to the property as they will always band over backwards to make sure some poor homeowner does not loose their home for 1 to 2k in back tax's.
There was one in San Francisico oh about 15 years ago that was bought for maybe 50k at tax sale property probably worth 500k. and CA. is a tax sale state, not a lien state, but he judge overturned the sale and the homeowner got he property back
If the props are vacant not an issue. I had one where I bought it in Northern CA. and it happened to be a church retreat. we bought the deed on 20 acres in the middle of the compound, Judge overturned the sale, we got our money back but lost 10k litigating it. We were right but like I say the judges are by and large not going to let any Tax lien displace a home owner.
Jay this forum was started for general info on Lee County Over The Counter not the pros and cons of Tax Lien investing, if you have a point to be made start your own Topic.
Spierreyoung have a look at Real Auction to have a look at other Counties that have OTC Liens available. Another option is to look at Mobile Homes in Lee County. Also counties that aren’t associated with an auction website offer lists on their websites, do your research off these lists and contact the county directly to purchase.
Like Steve, I also received a redemption cheque yesterday and I made my 15% return on my money, certain can’t complain about that. I am averaging about 15 cheques a month. Again if you want a more realistic view on liens just message me.
Roger willcounitedvetsgroupMember@unitedvetsgroupJoin Date: 2011Post Count: 3
Was just reading your info on purchasing OTC Liens from Lee County and I have a couple of questions;
1. Do Lee County only put up OTC Lien Certs to purchase once a year after they are not sold at auction? eg. Doing a search of Land Code 01, for single family homes brings up the same certs each time with no new ones. Do you have to super quick to see new ones or are they not put on site on regular basis.
2. Would love some advice on how to find other Counties that offer online OTC certs outside of their auction period. I see Real Auction lists Counties that have auctions all around June, but do you know of any that put up current certs to purchase all year round?
Thanks is advance
Generally counties have a Lien Auction once year for any unpaid taxes for the previous years. So no new ones come up. I have had some success at purchasing liens on Mobile Homes. I don't mind MH from a risk point as I own one in Florida as well.
Real Auction is a good place to start, however they don't look after every county in the US, however they have the easiest system for research. To find the other counties I look all over the counties Tax Collectors web page and generally you can track down this info, for example Charlotte County FL, have a list of available County Held Certificates where you select the ones you want on excel, then call the county to buy them directly from the county. If you have any questions either PM me or email [email protected]