What can anyone comment on here about tax deed sales and what not?
I am considering getting involved in tax lien sales.
Tax liens and tax deeds are two different animals. Tell us which state are you planning to invest in and then we can tell you which applies in your state and give you more details.
In Larry Loftis’s book entitled, Profit by Investing in Real Estate Tax Liens, he distinguishes between those states that are tax lien states, those that are tax deed states and those that are a hybrid of the two.
One thing that I noticed is that when it comes to tax deed sales he makes it a rule for himself to physically inspect the property, (a drive-by), whereas with tax lien investing he does not.
Seeing that this is a much more time consuming process, (physical inspections), I’d be interested to hear what others have to say about their approaches to tax deed investing, (and their aversion to the risks associated with it).
Tax lien investing seems to have less inherent risks, but due to circumstances like exhorbitant driving times to states that offer tax lien sales, I’d rather concentrate on tax deed sales.
Any thoughts on these would be appreciated.
Thanks,
-Mike
also interested in this topic (tax liens specifically). as I don’t want to become a full time investor and probably not travel to inspect properties/attend auctions more than a few times a year.
So any tax lien investors out there who can share their experience - love to hear from you, especially if it is OTC or by mail tax lien investing.