Is there a way to get a business loan to purchase property at tax deed auction since the money invested would essentially be backed by the property purchased making it a loan with collateral .
So the particular piece of property at McHenry St NE, in 10/2020, five years later than this video, zillow now lists its zestimate of property at around $90k. It did have some updating to place as is seen in current image. Zillow states that home values have risen in this zip code 3.8% over last year and are predicted to rise another 5.2% in next year. However, this particular property is valued about 42.1% lower than the median in this zip, as avg values are about $156k The 1576 Grandview Way property now has an approximate value on zillow of $181k, with an assessed value of app. $123k. From 2017 to 2019, the property taxes have declined from $2,143 to $1,623 and is valued 4.8% higher than other properties in zip. Purchased originally in 2008 for $128k, foreclosed on 3 years later with $41k sale price, removed and one year later in 3/2012, sold for $43k. I see no where on this list where it was up for sale in 2015
sorry to be off topic but does anyone know of a tool to get back into an Instagram account..? I stupidly forgot the password. I would love any tips you can give me.
@Grayson Ruben Thanks for your reply. I got to the site thru google and I'm trying it out now. Looks like it's gonna take a while so I will reply here later when my account password hopefully is recovered.
I'm confused when your supposed to run a title search...Before you bid on the property or after you won the property? My guess is before so you don't buy a property with huge liens
Hi, great question. We wont run a title search on tax liens but we may on tax deed property. But even with tax deeds we may not run a full title search before bidding on it at the auction. With tax deeds we mostly need to be concerned about other governmental liens. Because mortgages and judgements will no longer be valid after the foreclosure. So many times we can research the deed in the court records without paying for a title search. Also, some counties will run title searches before the auction, so sometimes you can get a title search from the county. But when it comes to paying for a title search it is completely up to you and have confident you are in your due diligence. Thanks, Stephen
Tax Overages are not really our thing - we focus on the Tax Lien and Tax Deed side of Tax Sale Investing. Wish we could help more but we are not experts on Overages. Thanks for watching.
Hello Erin, most property wont have environmental issues unless there is reason to believe it might have a problem. Most of your homes and land wont have issues. But the best way to check is on the EPA website. They have a place on their website that you can check by address to see if they have had any issues at the site. But environmental issues would mostly be a problem with industrial or commercial type property. Hopefully that helps. Thanks again for checking out our videos. SJ Swenson
S J Swanson how about if I were to win the bet and the owner doesnt pay the back taxes and lose the property, now I acquire the property. There is any other lien that I have to pay?
Thanks for the question Ernesto! In most states where you foreclosure on a tax lien and acquire the property, most liens and judgements will no longer be enforceable. The only liens that you might need to deal with would be other governmental liens like a city grass lien or something similar. That's part of what makes tax liens such a great investment. Things like mortgages, normal liens and judgments are no longer valid against the property. Thanks, SJ Swenson. www.TaxSaleSupport.com
Hello Mia, you can in many areas but you will need to find the right buyer. You can sell the property "as is" using a quit claim deed, but most people don't know how to do that. Also you will also either need a cash buyer, or offer seller financing on the property to sell it this way. Because banks wont loan on the property without going through quiet title. But yes it can be done for nice profits if you do it the right way. Hope this helps. Thanks, SJ
As far as I know (I am a newbie too) You cannot own the property by tax liens, probability is very small. Becauese 95 or so percent of the liens are being redeemed. You can get the property if you can win tax deeds. With tax liens, you can gain interest ( between 8-18 percent according to states), if they are redeemed (which means owner pays, and afterward county pays to you)
@@zonfir Yeah I went to a tax lien seminar a while back. They wanted about a grand to show us how to invest in tax liens to get that sweet guaranteed interest. I never did it. Seemed too complicated for me at the time. Thanks for the response 😀
@@NikLyons No problem, even though my English is advanced (I am a translator from English to Turkish and vice versa) I am not a native speaker! Which means that law language is not easy to understand:)) Maybe we can help each other:))
how do you know when the end of the redemption period is if on the printed out tax list has a year listed say example "2015" and the present year is 2018
Hello Robin, thanks for the question and sorry for just getting to it. The redemption period will usually always start on the day of the auction. So if the State had a 3 year redemption period, and you bought a tax lien in May on 2019 - then you could start the foreclosure process in May of 2021. To figure out how long each redemption period is by state you can check out our free training at www.secretsoftaxlieninvesting.com. Thanks, SJ Swenson
When you are building a team to invest in tax deeds with, what are roles that you will need in order to effectively acquire the property, clear title if necessary and sale the property?
Yes all counties should have a list but not all of them may be available on the website. You may need to contact the county to get past years sold lists. Hope this helps. Thanks, Stephen
When it comes to Homestead Property the laws on how it can effect the investment can change from state to state. So you will want to check the states homestead laws to see how it works in that state. For example in Texas, Homestead property have 2 year redemption period instead of 6-months. In Florida, the homestead tax liens are usually lower dollar tax liens because they only charge the owner a portion of the property taxes. And because they are homestead property, the owners are more likely to pay off the debt before loosing the property. But if Florida if the property goes to the tax deed sale then the opening bid will start at 50% of the assessed value. So if you do buy homestead liens in Florida you want to make sure the home is worth owning at 50% of the assessed value. That way you have a good chance of selling it at the tax deed sale. Hopefully that helps. Thanks, Stephen
If you were to win the tax deed auction . How do you know if there are any other liens on the property that you have pay off or dispute to have it clear ??
Hello Andrew, it will depend on the type of tax sale and state you are asking about. But in most states once the property has gone through the foreclosure process it will eliminate any mortgages, judgements, mechanics liens, ect. The one thing that might survive after the foreclosure is another type of governmental lien. Most common would be a water or city lien. These types of liens can be found by doing a title search or researching the the property in the county and court records. This process is what we teach our Members at www.TaxSaleSupport.com. Let me know if I can be of any more help. Thanks, SJ Swenson
S.J. Swenson I'm trying trying to do tax deed auction in Florida , and was just wondering before you bid on a tax deed auction you run a title search , now on your program you teach us how to run the title search or you request us to use a title company ??
Hello Andrew, legally speaking I would always recommenced getting a title search done on any property you buy at the tax deed sale. But I can tell you personally it will depend on the type of investment and what research I can do on my own. For example if I was to buy OTC deeds lot for $500. And I was able to research the chain of title myself, then I might not pay for a title search. But if I was investing $10,000 on a single family home, then I would follow up my research with some type of title search. You can research the title yourself - but you will need to go back and search the assessor, deed and court records. Tonight we are actually teaching TaxSaleSupport.com Member how to "research property titles" on the weekly webinar. But its a process of going back and searching past deeds for liens that might still be attached to the property. In most cases tax deed investors really only need to be worried about any governmental liens. Liens like city or water, IRS or some other type of governmental lien. In my experience the most common is a city lien, like the city mowed the lawn, cut trees or utility lien like a city water or sewer. There are several online companies that offer title searches. From my experience they can range from $30 to over $300 depending on the type. You can go online and search for different online title companies, or you can use a title company in the area of the property. The one thing you will want to avoid is running the title search to early. Its possible the property could get redeemed before the sale. So we recommend waiting until as close to the auction date as you can before running a tile search. You don't want to pay for a title search on a property you cant even bid on. Well hopefully that at least answer part of your question. Good luck at the auction. Thanks, SJ Swenson
We do provide some of the Overage Lists to our Members. We understand how they work but Overages are not really our thing. So we are not really expert on Overages. I wish we could help more but we focus on buying tax liens and tax deeds. Thanks for watching..
Why am I paying off the liens? I didn't incurr the debt. If that's the case, why don't the lien holder (s) take the property? Paying can't be the only way to resolve the problem.
Hello, thanks for checking out one our videos. I am not exactly sure what liens you are referring to when you are asked "Why am I paying off the liens". If you are asking about other governmental liens that may be attached to the property - The answer would be because those liens can survive the foreclosure process and still be attached to the property. With most tax deeds the property will be free of any personal liens, mortgages and judgments on the property. But those governmental liens like a city grass lien (city mowed the lawn) can still attach to the property after the foreclosure. If you are asking why when we start a foreclosure process on a tax lien, we need to pay off any other tax liens - the reason would be so that the investor owns all the tax liens on the property. That way all tax lien holders get paid back their investment before the foreclosure goes through. In your question about "why don't the lien holders take the property?" the answer would be sometimes they do take action to avoid the property going to foreclosure. For example a mortgage company might come in and pay of the back taxes so they don't loose their interest in the property. Hopefully that answered your question a bit. Thanks, Stephen
What does ''Final Judgment Amount'' means? I'm looking into Miami Dade County, and it's a lil bit different from yours. There's a ''Plaintiff max bid'' that sometimes shows an amount of money, and some other cases is ''hidden'' Thanks for the video
Hello Carlos, thanks for asking - I believe you are looking at Mortgage Foreclosure instead of a Tax Foreclosure. Many times they will have the final Judgement Amount included with your classic foreclosure due to non payment of a mortgage or other debt. With tax foreclosures the opening bid will usually start at the back taxes. To review more about the differences you can check out our blog post here www.taxsalesupport.com/coaches_blog/view/2603/foreclosure_and_tax_sale_investing
I appreciate these videos, I learn so much from you guys. I will be signing up for your membership. Thank you
Awesome! Thank you!
Is there a way to get a business loan to purchase property at tax deed auction since the money invested would essentially be backed by the property purchased making it a loan with collateral .
Hello John, I am not sure about business loans but you can get Private Money lenders to borrow money on Tax Deeds. Thanks for watching....
You got a video on how to rent or sell property in states you don't live in after the purchase? Thx
So the particular piece of property at McHenry St NE, in 10/2020, five years later than this video, zillow now lists its zestimate of property at around $90k. It did have some updating to place as is seen in current image. Zillow states that home values have risen in this zip code 3.8% over last year and are predicted to rise another 5.2% in next year. However, this particular property is valued about 42.1% lower than the median in this zip, as avg values are about $156k
The 1576 Grandview Way property now has an approximate value on zillow of $181k, with an assessed value of app. $123k. From 2017 to 2019, the property taxes have declined from $2,143 to $1,623 and is valued 4.8% higher than other properties in zip. Purchased originally in 2008 for $128k, foreclosed on 3 years later with $41k sale price, removed and one year later in 3/2012, sold for $43k. I see no where on this list where it was up for sale in 2015
Hello Lisa, thank you so much for the update. The number you posted are interesting and we really appreciate the information. Thanks again, Stephen
sorry to be off topic but does anyone know of a tool to get back into an Instagram account..?
I stupidly forgot the password. I would love any tips you can give me.
@Jensen Bodhi instablaster ;)
@Grayson Ruben Thanks for your reply. I got to the site thru google and I'm trying it out now.
Looks like it's gonna take a while so I will reply here later when my account password hopefully is recovered.
@Grayson Ruben It did the trick and I now got access to my account again. I'm so happy:D
Thank you so much you saved my account :D
What are some tools I can use to find overdue bills like sewer water?
I have no idea, does anyone know?
Hi, Tax Sale Secrets, would you update this video using new stuff (if any)?
this is NOT tax sales secrets! But I do agree with your sentiment.
I'm confused when your supposed to run a title search...Before you bid on the property or after you won the property? My guess is before so you don't buy a property with huge liens
Hi, great question. We wont run a title search on tax liens but we may on tax deed property. But even with tax deeds we may not run a full title search before bidding on it at the auction. With tax deeds we mostly need to be concerned about other governmental liens. Because mortgages and judgements will no longer be valid after the foreclosure. So many times we can research the deed in the court records without paying for a title search. Also, some counties will run title searches before the auction, so sometimes you can get a title search from the county. But when it comes to paying for a title search it is completely up to you and have confident you are in your due diligence. Thanks, Stephen
How do you know the percent return on the tax lien as the did goes up?
How much does eviction cost?
Truly great content
Hi! I'd like to get directed to where I could get the forms and contracts, that I'll be needing in order to claim Tax Overages for clients. Thank you
Tax Overages are not really our thing - we focus on the Tax Lien and Tax Deed side of Tax Sale Investing. Wish we could help more but we are not experts on Overages. Thanks for watching.
Have you found this out yet Xavier?
@@arturengler5406 Haven't got any close to get one that is free.
How much does it cost to be a member????????????
How do you search for environmental issues that may be associated with a property in Florida
Hello Erin, most property wont have environmental issues unless there is reason to believe it might have a problem. Most of your homes and land wont have issues. But the best way to check is on the EPA website. They have a place on their website that you can check by address to see if they have had any issues at the site. But environmental issues would mostly be a problem with industrial or commercial type property. Hopefully that helps. Thanks again for checking out our videos. SJ Swenson
S J Swanson how about if I were to win the bet and the owner doesnt pay the back taxes and lose the property, now I acquire the property. There is any other lien that I have to pay?
Thanks for the question Ernesto! In most states where you foreclosure on a tax lien and acquire the property, most liens and judgements will no longer be enforceable. The only liens that you might need to deal with would be other governmental liens like a city grass lien or something similar. That's part of what makes tax liens such a great investment. Things like mortgages, normal liens and judgments are no longer valid against the property. Thanks, SJ Swenson. www.TaxSaleSupport.com
Can I sell a property that I acquired from the county without having to spend money on quieting the title? I have limited funds.
Hello Mia, you can in many areas but you will need to find the right buyer. You can sell the property "as is" using a quit claim deed, but most people don't know how to do that. Also you will also either need a cash buyer, or offer seller financing on the property to sell it this way. Because banks wont loan on the property without going through quiet title. But yes it can be done for nice profits if you do it the right way. Hope this helps. Thanks, SJ
@@taxsalesecrets Thank you so much for your reply.
Thank you for watching Mia - Good luck investing!
is it always going to be an auction?? i heard there was another way to "get the properties that are already redeemed.
What's the difference from tax lien as opposed to a tax deed investment? TIA
As far as I know (I am a newbie too) You cannot own the property by tax liens, probability is very small. Becauese 95 or so percent of the liens are being redeemed. You can get the property if you can win tax deeds. With tax liens, you can gain interest ( between 8-18 percent according to states), if they are redeemed (which means owner pays, and afterward county pays to you)
@@zonfir Yeah I went to a tax lien seminar a while back. They wanted about a grand to show us how to invest in tax liens to get that sweet guaranteed interest. I never did it. Seemed too complicated for me at the time. Thanks for the response 😀
@@NikLyons No problem, even though my English is advanced (I am a translator from English to Turkish and vice versa) I am not a native speaker! Which means that law language is not easy to understand:)) Maybe we can help each other:))
how do you know when the end of the redemption period is if on the printed out tax list has a year listed say example "2015" and the present year is 2018
Hello Robin, thanks for the question and sorry for just getting to it. The redemption period will usually always start on the day of the auction. So if the State had a 3 year redemption period, and you bought a tax lien in May on 2019 - then you could start the foreclosure process in May of 2021. To figure out how long each redemption period is by state you can check out our free training at www.secretsoftaxlieninvesting.com. Thanks, SJ Swenson
When you are building a team to invest in tax deeds with, what are roles that you will need in order to effectively acquire the property, clear title if necessary and sale the property?
Great question - check out our video on Power Teams. We will review all the people you will need to buy and sell property. Thanks
Some like minded ppl
Hello everyone, if you have any questions about tax lien or tax deed
investing go ahead and ask me in the comment section. Thanks, SJ
Swenson
Check out the new look of www.secretsoftaxlieninvesting.com/
Do counties in california keep a list of properties that were sold in there foreclosure auctions or tax sales in prior years?
Yes all counties should have a list but not all of them may be available on the website. You may need to contact the county to get past years sold lists. Hope this helps. Thanks, Stephen
I've been researching n haven't seen anyone talk about homestead propeeties.... Should i invest in those this of liens?
When it comes to Homestead Property the laws on how it can effect the investment can change from state to state. So you will want to check the states homestead laws to see how it works in that state. For example in Texas, Homestead property have 2 year redemption period instead of 6-months. In Florida, the homestead tax liens are usually lower dollar tax liens because they only charge the owner a portion of the property taxes. And because they are homestead property, the owners are more likely to pay off the debt before loosing the property. But if Florida if the property goes to the tax deed sale then the opening bid will start at 50% of the assessed value. So if you do buy homestead liens in Florida you want to make sure the home is worth owning at 50% of the assessed value. That way you have a good chance of selling it at the tax deed sale. Hopefully that helps. Thanks, Stephen
Great video
Thank you very much...
If you were to win the tax deed auction . How do you know if there are any other liens on the property that you have pay off or dispute to have it clear ??
Hello Andrew, it will depend on the type of tax sale and state you are asking about. But in most states once the property has gone through the foreclosure process it will eliminate any mortgages, judgements, mechanics liens, ect. The one thing that might survive after the foreclosure is another type of governmental lien. Most common would be a water or city lien. These types of liens can be found by doing a title search or researching the the property in the county and court records. This process is what we teach our Members at www.TaxSaleSupport.com. Let me know if I can be of any more help. Thanks, SJ Swenson
S.J. Swenson I'm trying trying to do tax deed auction in Florida , and was just wondering before you bid on a tax deed auction you run a title search , now on your program you teach us how to run the title search or you request us to use a title company ??
Hello Andrew, legally speaking I would always recommenced getting a title search done on any property you buy at the tax deed sale. But I can tell you personally it will depend on the type of investment and what research I can do on my own. For example if I was to buy OTC deeds lot for $500. And I was able to research the chain of title myself, then I might not pay for a title search. But if I was investing $10,000 on a single family home, then I would follow up my research with some type of title search.
You can research the title yourself - but you will need to go back and search the assessor, deed and court records. Tonight we are actually teaching TaxSaleSupport.com Member how to "research property titles" on the weekly webinar. But its a process of going back and searching past deeds for liens that might still be attached to the property. In most cases tax deed investors really only need to be worried about any governmental liens. Liens like city or water, IRS or some other type of governmental lien. In my experience the most common is a city lien, like the city mowed the lawn, cut trees or utility lien like a city water or sewer.
There are several online companies that offer title searches. From my experience they can range from $30 to over $300 depending on the type. You can go online and search for different online title companies, or you can use a title company in the area of the property. The one thing you will want to avoid is running the title search to early. Its possible the property could get redeemed before the sale. So we recommend waiting until as close to the auction date as you can before running a tile search. You don't want to pay for a title search on a property you cant even bid on. Well hopefully that at least answer part of your question. Good luck at the auction. Thanks, SJ Swenson
S.J. Swenson thanks , it did , to run your own do you go to the county clerk of courts??
Yes, you will need to review court records, and in addition you will need the past property deeds so you can review the court records.
Very informative.
Thank you Leticia, we are glad you found us. Thanks again, SJ Swenson
How do research tax overages
We do provide some of the Overage Lists to our Members. We understand how they work but Overages are not really our thing. So we are not really expert on Overages. I wish we could help more but we focus on buying tax liens and tax deeds. Thanks for watching..
Why am I paying off the liens? I didn't incurr the debt. If that's the case, why don't the lien holder (s) take the property? Paying can't be the only way to resolve the problem.
Hello, thanks for checking out one our videos. I am not exactly sure what liens you are referring to when you are asked "Why am I paying off the liens". If you are asking about other governmental liens that may be attached to the property - The answer would be because those liens can survive the foreclosure process and still be attached to the property. With most tax deeds the property will be free of any personal liens, mortgages and judgments on the property. But those governmental liens like a city grass lien (city mowed the lawn) can still attach to the property after the foreclosure. If you are asking why when we start a foreclosure process on a tax lien, we need to pay off any other tax liens - the reason would be so that the investor owns all the tax liens on the property. That way all tax lien holders get paid back their investment before the foreclosure goes through. In your question about "why don't the lien holders take the property?" the answer would be sometimes they do take action to avoid the property going to foreclosure. For example a mortgage company might come in and pay of the back taxes so they don't loose their interest in the property. Hopefully that answered your question a bit. Thanks, Stephen
Can you live in a state and buy tax lien in different state?
Yes, no problem. Many of our Members buy tax liens and tax deeds outside their own state. Thanks for the question. SJ Swenson
What does ''Final Judgment Amount'' means? I'm looking into Miami Dade County, and it's a lil bit different from yours. There's a ''Plaintiff max bid'' that sometimes shows an amount of money, and some other cases is ''hidden''
Thanks for the video
Carlos, are you looking at a foreclosure auction or tax deed?
Hello Carlos, thanks for asking - I believe you are looking at Mortgage Foreclosure instead of a Tax Foreclosure. Many times they will have the final Judgement Amount included with your classic foreclosure due to non payment of a mortgage or other debt. With tax foreclosures the opening bid will usually start at the back taxes. To review more about the differences you can check out our blog post here www.taxsalesupport.com/coaches_blog/view/2603/foreclosure_and_tax_sale_investing