Hello experts,
This has probably been covered before on this board or maybe not, but…
I know nothing about tax liens, tax deed sales etc. but like most of us, I saw an infomercial last week on tv about John Beck where he states very clearly that anybody can purchase real estate FREE AND CLEAR (no mrtg, no payments) by simply paying off the back taxes on a property. I have heard of this about 10 yrs ago (and in between) and if this is all true then I am very interested in it.
What are your input on this? Is this really doable? I’m very interested in hearing from investors that have actually purchased real estate free and clear this way in “California”. I hear California is picky or too strict when it comes to this type of technique, is this true?
( I own several properties in Calif and so far all is well
I’m not interested in investing in tax certs, only purchasing properties free and clear
I believe purchasing tax sale certifiactes may be just what they are talking about. There are people out there who hold certificates for awhile and sell them just prior to being in a position where they can foreclose. Don’t know much about CA though
Its possbile, i have bought maricopa county certificates and paid thru the third year only to have the homeowner pay it back and redeem? You need to find certificatds that have a higher dollar amount which means the HO needs to come up with more. It was my first foray iinto the RE market. I think doing shortsales would be a faster way to make money then tax certificates. Althought when I get more money, I may buy a few aft a higher price which means the HO will have a harder time to redeem.
steve
check with your local tax assessor’s office (county or state) for their tax sale certificate guidelines. as mentioned you buy the certificate and hold it for some period of time before you are legally able to foreclose on the property. only then do you get the property “free and clear”. oh the details those infomercials leave out!
I am beginning to understand that there’s a difference between Tax Lien Certs and Tax Deed sales at auction?
Being from California, it appears that here we have what’s called a tax deed sales, I’m wodering what exactly is this? Does this type of sale overrides all other liens on a property? (mtg, etc)
Or is this just another name for “Tax Lien Cert”?
By the way I read the riviews about John Beck online and they weren’t very pretty at all, it was all negative ???
The information john beck provides is more informative than ted thomas. Once I figured out I needed to go research the courthouse online is where I got most of my info from.
steve
