property liens

[chucklenut]

anyone try these? you go to auction, but a lien against the property tax (be it 911 solid waste, state property, etc.) and then wait for them to satisfy lien before a sale

I've never done personally. my old law firm specialized in satisfying these liens and then forming holding corps while the property was developed

I've been reading about it. the returns are nice but the risk is depending on where the lien may never be satisfied and therefor you lose on it completely.

a lot of investment banks do this on a large scale but individuals can participate of course too

 

[chucklenut]

btw

ethically I have a huge issue with the gov selling a debt to a private holder who essentially holds your property and livelihood ransom......but since this is a legitimate investment (as far as sec, irs, gov is concerned) then I feel like its worth exploring

 

[sparked1]

I thought the gov simply sold your property at auction, not the lien itself, when they put a tax lien on it? So they basically sieze your property due to unpaid taxes and liquidate it at auction, and they keep a portion of the proceeds to satisfy the lien. You as the buyer now own the property, not just the lien. This sounds different.

 

[Nonliberal]

So you’re buying stolen property

 

[chucklenut]

So you’re buying stolen property

reclaimed property lol

but no, id be buying the taxes for a specific year attached to the property

if someone is delinquent in paying like 2017 and 2018 taxes, each tax year has a value and a parcel id attached to it

if I wanted just the 2017 taxes and not the 2018 I could buy that parcel before the other. I hold the lien until they repay me with interest. while I have the lien the property cannot be sold or transferred, so basically if you bought the property liens for many years on a low income home in Atlanta that would be developed, the developers would have to pay you before they could do anything to the property

you are basically just hemming **** up until they pay you lol

 

[Nonliberal]

reclaimed property lol

but no, id be buying the taxes for a specific year attached to the property

if someone is delinquent in paying like 2017 and 2018 taxes, each tax year has a value and a parcel id attached to it

if I wanted just the 2017 taxes and not the 2018 I could buy that parcel before the other. I hold the lien until they repay me with interest. while I have the lien the property cannot be sold or transferred, so basically if you bought the property liens for many years on a low income home in Atlanta that would be developed, the developers would have to pay you before they could do anything to the property

you are basically just hemming **** up until they pay you lol

That’s what I said. Stolen/ransomed property. Taxes => Theft

 

[Grub Master]

There is a lot of competition at Tax Sales. Many companies and professional buyers are involved. Buying property for the taxes alone will be a fluke. Prices are bid up. You need to research each property for liens before the sale and that is time consuming and or expensive. I bought a couple of building lots 20 years ago and made a little money. It wasn't as competitive as it is now. Kinda like storage wars and flipping house shows.

 

[Maggiemaeodie]

So you’re buying stolen property

Amen

 

[medium187mph]

It’s lucrative and profitable if you have access to big $ and dedicated time.

 

[gh1950]

I thought the gov simply sold your property at auction, not the lien itself, when they put a tax lien on it? So they basically sieze your property due to unpaid taxes and liquidate it at auction, and they keep a portion of the proceeds to satisfy the lien. You as the buyer now own the property, not just the lien. This sounds different.

In Georgia (and the system varies greatly state to state), the tax sale is only for the lien on real property. Personal property, the property is sold.

If you buy a tax lien at auction, the taxpayer, or any successor in interest can pay you as a matter of right the amount of the lien, plus a generous penalty that is provided by law. That is the feature that supposedly makes purchasing tax liens so profitable.

OTOH, there are "counter investors" who track these, who will obtain title or partial title to the property, and pay you off. The discussion of how this happens is beyond the scope of these comments.

If you buy a tax lien on real property you do not go into possession of the property.. In 12 months, you have to file a legal action to foreclose on the lien, obtain title to the property, and go into possession of it.

Any risk of loss to the property -fire, storm, lack of repair - is on you.

Also, you have to be an expert in title matters, especially "heirs property" - property owned by a decedent with an unadministered estate.