I am a newbie at tax sale property investing. I would like to know more about investing in such properties around the MD, Washington DC areas. I am predominantly interested in Montgomery county in MD but I know that they are done with their tax sales for this year. I know that Washington DC tax sale auctions are coming up in July. To start with I would just like to correspond with any experienced investor(s) out there, who are planning to participate in auctions around these areas. I would just like to watch from the background to see how you go about the process so I can learn things first hand. I will hardly take any of your time, and would really appreciate it if you could show me the way. We are/were all beginners at some point of time. Now that you are ahead of the game, I would highly appreciate it if you could pass some of it forward. Thanks in advance.
go to the montgomery county courthouse(thats somewhere in rockville right?) and ask for their list of sale that was leftover. Sometimes you find jewels in that pile. I dont like going to auctions cuz every body gets auction fever and you cant stop bidding, dont want the other guy to get it syndrome.
If you are a newbie, i suggest go thru the leftovers. Do your due diligence. Read up the rules for buying at tax sales. A word of advice. If you buy a current tax lien, it may take a few years before you see any profit. Even then the HO may somehow get a loan to eventually pay you off. Its a waiting game. If you want better return, better to go the pre-foreclosure route.
Another stratgegy you need to contact the montgomery clerks to find out when you can apply for a deed on the property and what the rules are. If they say wait 3 eyars, then I suggest you go back to the 2004 records and look for those tax sales and then apply. I havent bought in maryland, i have bought in arizona and lforida.