I understand you but the lein and get a high interest rate on it. What if you buy a lein for 3000 at a 15% interest rate and the homeowner never pays it or sells, what happens then?
I think that very much depends on the state you live in.
I haven’t done it, but based on reading, down here in FL, you have to hold the tax certificate for two years, and then you can have the court convert it to a tax deed and then I think it has to go to auction and you can buy it there. It doesn’t seem that great because if it goes to auction, you probably won’t get it for what you paid for the tax certificate.
Any FL investors that can clarify?