If you dont want to pay taxes, rent then. You want to own something and earn tons of equity pay your measly taxes and move on. Enjoy staying down with that mentality
Proof that you are ignorant of the Law. You are required to Pay Property Taxes because YOU AGREED TO UNDER CONTRACT. You did this and created this Contract when you REGISTER your Home with the County. There is NO LAW requiring you to Register ANY of your Private Property. Registration is ONLY FOR ENTITIES OPERATING IN COMMERCE.
Dammit Ted where have you been all my life sir. That’s the best explaination I’ve ever heard when it comes to anything. I’m glad I ran across your video.
Hi ted!! This is the first video I've watched of yours. I've known about tax liens for a couple years now. I grew up with my dad always talking about it but he never wanted to do it because he says money changes people. Finally going to do it this year. I'm a 21 year old single mother in a VERY tough living situation. So this year I'm really going to do this. Wondering if you got any courses coming up? Or an email so i can ask some questions as they come to me. I can't afford to mess it up and want to do it right the first time!
Update: I looked into the Ted Thomas program. His program costs $2000 which I couldn't find this out until I paid $50. Then to make any real money, you need at least $10,000 to put down on a house.
Hi Ted! Thanks so much for all the information you provide. It’s really helpful for a newbie like me . So you have any courses available? If so how do I register?
Thanks for your comment! I do indeed have courses available. I am actually having a one-day, all-day workshop coming up on Saturday, September 25th. If you would like to join us, you can sign up at www.tedthomas.com/September.
@@Ted-Thomas do you have any books on amazon? also you said if owner don't pay I get the property. can I sell the property after recieving the certificate if owner don't pay.
Hey Ted, when you purchase a tax lien and someone does not pay you in the first year. Do you have to continue paying the property taxes for the property for the next 2 or 3 years assuming it's never redeemed?
Thanks for your question. If you purchase a first-year tax lien certificate and no one tells you, I’ll tell you to buy the second and third year at the same time because you will earn the high-interest rate and you will own all the certificates. Otherwise, if you buy the first year, someone else can buy the second year. If nobody buys the second year, you will have a big problem. - Ted Thomas
Ive heard recent court cases where the government is not allowed to keep the proceeds of the sale beyond what tax is owed and any profit generated must be returned to the owner. How does that affect these deals?
@Gary Downes - if you have so much fear about that why not invest in land only? And about 97 percent of people will redeem - you will end up having your money repaid. So they will not want to trash their own property.
Thanks for your question, sorry I don’t have a great answer for your question. I am in the business of purchasing tax defaulted properties and they are in all stages - some need paint and clean, some are just junk, and others have just been abandoned. Good luck on your search. - Ted Thomas
First of all, private properties are supposed to be 100% tax exempted, govt sold the land to all settlers, it's called land purchase. And that makes the property un-taxable! Rothschild Financial System really did a number on this! They created this system only to make them wealthy and others poorer - many were killed trying to whistleblow. When people wake up to this, they'd want all tax $ refunded once they change their status. Secondly, all foreclosures are a fraud and is actually Grand Larceny in broad daylight! (Their homes were already paid off from the funds they never knew they had all those years) They still owned it all the way til it's sold, it's a theft by all banks. Please investigate yourself before diving into anything. It is pure fraud. Many are fighting against banks to bring power back to themselves as we speak. Whoever buys foreclosed homes is actually buying stolen properties. Banks hid all this infos hoping no customers would find out, they thought wrong.
Gary, many years ago I purchased a lien, after three years i applied for a treasurers deed. One week after I received the treasurers deed the cabin was burned to the ground. I did not have insurance. I sold the lot for 15k after I cleaned it up. Probably lost 85k do to the arson.
What do you do if you buy the tax lien and the owners are still living in the property and they do not pay their taxes and you were deed the property. How do you go about evicting them? Can anybody answer this question for me please for the state of Indiana
If you find yourself in this situation, it's important to consult with a real estate lawyer who is familiar with the laws in Indiana. They will be able to guide you through the process of evicting the owners and help ensure that you're following all the necessary legal steps. - Ted Thomas Team
Ted - thanks for the video. I want to make sure I understand, because this seems almost too easy. I'm in Colorado and the county has tax liens for sale. There is one for sale that is vacant land in a part of town that is developing quickly. The amount due isn't much - right at $500. But you're saying I could buy it for $500 and just sit on it. If the owner pays the tax bill, he pays it to the county. The county then pays me the $500 + 12% interest. I don't have to collect it myself? The county collects it and remits payment? And if for some reason the owner doesn't pay the bill over the next 3 years (and I pay the taxes each year), I can take possession of this empty lot in a primo spot?
Hi Hunter, everything you said is correct! Here is the state statue: Colorado Revised Statutes, Title 39, Articles 11, and 12. and here are the bidding rules for Denver County - denver.coloradotaxsale.com/index.cfm?folder=showDocument&documentName=biddingRules
Thanks Ted. I attended a real estate seminar a few years ago and they briefly touched on Tax Liens. I was supposed to attend a seminar here in Charlotte a few days ago but I couldn’t attend. Are your seminars available in NC?
Thanks for your question. You're not responsible for paying the subsequent taxes, however, my recommendation is to continue taxes, after all, they are only 1-2% of the value so you own all tax lien certificates, otherwise someone else could get the property. - Ted Thomas
Great video! Thank you for sharing! But I had just a few general questions I was hoping you could answer. My state says the interest I can earn on a tax lien certificate will range from 6%-18%. What determines what interest rate I will get? Secondly, do you always have to wait 2 years to reap the benefits? That seems like a long time. Would you say the more the tax lien is the more likely they are to not pay? And lastly, I know you said that if they don't pay you will assume the property with out a mortgage. But can there be any other liens or fees on the property you will be required to pay?
Hi Keith, I can not answer this accurately without knowing what state you are located. If the interest rate ranges from 6%-18% then you need to see what the bidding method is, it could be a "bid down" interest rate. - Ted Thomas Team
Nice Video but What happens with other liens on the property if they don't pay and you get the property it has no mortgage but what if there are other liens , IRS liens state liens the list goes on....other personal liens
Thanks for asking your question. You need to start doing your homework and you will find as you mention the mortgage or deed of trust loan are wiped out and terminated by the treasurer however there still could be municipal liens and federal liens which you need to research because they will stay on the property. - Ted Thomas
Ted, thank you for all the information. I live in Broward County, FL. My question is, after purchasing a tax lein, how long does it usually take to receive the interest earned ? or does that depend on the property and if and when the owner pays? thanks in advance!
Hey Ted, do you have a link to the data that reflects the claim by county treasurers 90%+ of tax liens are paid back? Is this statistic nation wide or just for Florida?
Thanks! We don’t know the liens on the property only the claims so buyers and sellers can go to the public records and county public liens. - Ted Thomas
Hi Celica, the redemption period in Florida is two years. As a certificate owner you can start the process to take the property to a tax deed auction. Florida is a little different than other states, here is some more information: tedthomas.com/portfolio/florida-tax-liens-video/
Thanks for your question, you don’t have any choice when you buy certificates! The certificates are the taxes that are owed on the property. The tax assessor determines the tax. - Ted Thomas
Thanks for you asking your question. I am not sure of your circumstance. I am not giving you advice on buying or selling. Review the county rules. Generally speaking, if you pay for the certificates for all years in Florida the next step is to petition/request the county conduct a tax deed sale. - Ted Thomas
Thanks for your question. When a property goes into default the county will engage in a process which they call due process of law, which simply means they will notify the property owner and they will notify the lender or institution that has the mortgage or deed of trust loan. To stop the auction the lender or institution could just pay the taxes. Now things get a little bit more complex, when you borrow money on a property the mortgage holder or deed of trust holder will require you to sign a contract which is a promissory note which has three covenants (promises) #1 you will pay the note. #2 you will pay the taxes, #3 you will keep your insurance current (paid for). If the property owner didn’t pay taxes and you paid the tax certificate the mortgage lender knows that the properties is in default, at that point the mortgage lender could foreclose on the property. I am not an attorney, broker, or a lender. I am not giving you legal advice - Ted Thomas
Florida is a little unique when it comes to tax lien certificates, here is some more information: tedthomas.com/is-florida-a-tax-lien-or-tax-deed-state/
In the auction bidding up, if lets say owed taxes are 10K, but you paid 20K in bidding, do you get certificate for 20K or 10K and get 20K plus interest and fees or 10K + interestcand fees at redemption?
Great question! That answer depends on the county rules. Places like Texas and Georgia you receive your TOTAL bid amount, places like Maryland you only receive interest on the minimum bid. To find this information it would be in the rules for the county auction you are interested in attending - Ted Thomas Team
Hey Ted - are you able to buy tax lien certificates if you are not a resident in the state you are wanting to buy? EXAMPLE: I live in NY and want to buy in GA.
Thanks for your question. Interest is income, income is profits! In every state, county, and the republic of the United States you will pay taxes. - Ted Thomas
Thanks for your question, when you buy a tax lien certificate and you buying the first year more than likely the county treasurer will ask you if you want to pay the subsequent years and my answer would be of course you do. - Ted Thomas
in Florida it is a little different, the property will go to a second auction - so as the certificate holder you will get paid in Florida but you do not get the property after the redemption period - Ted Thomas Team
I did tax lien and got a tax lien certificate in Florida. I still have it never did anything else with it to claim the property which I should claim it by now
In Florida you need to contact the county and apply for a tax deed auction so the property can go through a tax deed auction. In that case as the certificate holder you will be paid your money plus interest you secured on your certificate. - Ted Thomas team
If you have a property that you have multiple tax liens on and foreclose on the liens. Do you own the property outright, or does the property then go to a deed auction in which then the highest bidder owns the property?
Thanks for asking your question. When you foreclose you foreclose out all other liens and you own the property. Next time a tax bill is issued you are responsible for the tax bill. - Ted Thomas
Horrible, mortgages, mechanics liens etc are gone. Municipal liens DO NOT go away. If a property owner has a trashy parcel and the city or county fines the owner and charges a daily fee for each day it's not brought to code then that will be your responsibility. I have a lien now that has over 6k in fees and fines for not cutting grass. If I take possession then I owe that money. For me, I go to the city council and ask to negotiate. At the end of tge day the city wants it cleaned up and someone paying the taxes so they usually will negotiate some of that.
Ok so I’m new to this if I purchase a tax lien that means I pay the owners taxes for the rest of the year? And or I pay on the taxes that was behind and or if the owner dnt pay whatever is left the fall into default and I get there property without a mortgage??????????????????????
Thanks for the question. Property tax works like this - each year the property owner must pay property tax. In half the states the tax lien certificate states, if they don’t pay their tax, they will be in default. The county will issue a certificate. If they continue to be in default the next year, you can buy that year. If you continue to buy the subsequent years in the majority of states you could foreclose and take the property. - Ted Thomas
Ted, if you buy the 1st year certificate do you have right of first refusal to buy subsequent years or is it bid on each year? It’s an auction so year 1 my have cost you $1,000 but year 2 might be different like $2,000?
So if you buy the first year of tax liens but someone else comes in and buys the second year away from you, do you lose all the money and the 18% return that you put in or will you still receive that at the end of the year?
Hi Ted! So I bought a tax lien certificate in Arizona. I paid through OTC. The owners haven't paid tax in 10-13 years. I paid all the liens for the years taxes weren't paid. Do I still have to wait 3 years ? Do I have the option to keep paying the taxes during the 3 years redemption period? Can I start foreclosure since they haven't paid for over 10-13 years? Thank you.
hey Ted - is the only good time to buy these in May/June? I just looked through about 30 different highly populated counties in my state and the certificates left over seem like horrible investments. They were liens on land that seemed like a strip or a property that is land only in the middle of no where.
Hi, Yes May-June is when Florida hosts there annual tax lien certificate auctions so that is the best time to invest. Here is an online auction site for Florida tax lien certificates - lienhub.com
@@Ted-Thomas wow - thanks for the quick response! i thought something was a bit off when I ran into your videos and then started to look in Florida and it was just awful properties! I'm going to try to sign up for your December course b/c I have about a hundred questions for you.
@@nicolepacasova3251 no, I figured out how to do it in Florida and buying these is more like winning the lottery. People are buying them for 0% return and theya re bought up instantly.
What's a good website to find out about MD law? If I understand, in FL you can foreclose on the property if you hold the tax lien for 2yrs? What if you don't foreclose on it, you lose the money invested? How do you start the process of foreclosing, do u get a notice from the county at that point?
Hi Rebecca, here is good information regarding Montgomery County, MD tax lien certificate sales www.montgomerycountymd.gov/Finance/TaxSale-general.html
I’ve been buying tax liens for about 3 years. Easy way to earn a better interest rate on your money than using a saving account.
Yes!!
Hey Yolanda! I would love to connect. I’m interested in learning more. Do you have an email or something so I can reach out? Thanks!
How can I connect with you please, would love to learn how to do this the right way
Proof that no one owns “their home”
If you dont want to pay taxes, rent then. You want to own something and earn tons of equity pay your measly taxes and move on. Enjoy staying down with that mentality
Proof that you are ignorant of the Law. You are required to Pay Property Taxes because YOU AGREED TO UNDER CONTRACT. You did this and created this Contract when you REGISTER your Home with the County. There is NO LAW requiring you to Register ANY of your Private Property. Registration is ONLY FOR ENTITIES OPERATING IN COMMERCE.
Dammit Ted where have you been all my life sir. That’s the best explaination I’ve ever heard when it comes to anything. I’m glad I ran across your video.
Thank you Rico!
@@Ted-Thomas anytime your freaking awsome.🙂🙂🙂
In my county, you bid down the interest rate - most of them going for 0%.
18 percent thats if the property takes 1 year to get to the auction. sometimes its less than 7 months to sale
Hi Moe, yes that is 18% annualized. - Ted Thomas Team
I never heard about tax lien. I have so much to learn. Thank you so much for sharing all this information. 🙏
You are so welcome
Hi ted!! This is the first video I've watched of yours. I've known about tax liens for a couple years now. I grew up with my dad always talking about it but he never wanted to do it because he says money changes people. Finally going to do it this year. I'm a 21 year old single mother in a VERY tough living situation. So this year I'm really going to do this. Wondering if you got any courses coming up? Or an email so i can ask some questions as they come to me. I can't afford to mess it up and want to do it right the first time!
Yes Ted hosts virtual workshops twice a year, here is more information: tedthomas.com/1dayworkshop
Ted Thomas is the real deal. :) Watch all his free videos too. He is very generous.
I'm in the same situation! Single mom ready to take this seriously! Signed up for the virtual workshop.
@Ted-Thomas good morning Mr Ted I'm in Miami dade County Florida and I'm interested in starting this not sure if Miami dade County Florida deeds or
Update: I looked into the Ted Thomas program. His program costs $2000 which I couldn't find this out until I paid $50. Then to make any real money, you need at least $10,000 to put down on a house.
Thank you for a very clear explanation.
You are welcome!
I am so glad I found your channel.
Me too!
Very nice Ted. I’m getting back into this awesome investment vehicle.. thanks!
Right on!
That shirt is amazing!
Thank you lol!
Thanks. This is really good for everyone
This is a great investment opportunity!!
Hi Ted! Thanks so much for all the information you provide. It’s really helpful for a newbie like me . So you have any courses available? If so how do I register?
Thanks for your comment! I do indeed have courses available. I am actually having a one-day, all-day workshop coming up on Saturday, September 25th. If you would like to join us, you can sign up at www.tedthomas.com/September.
@@Ted-Thomas do you have any books on amazon? also you said if owner don't pay I get the property. can I sell the property after recieving the certificate if owner don't pay.
Awesome content Ted thank you for this information.
My pleasure!
I’m in Virginia. I’m interested in more information on how to get started. This is very interesting information Ted.
Great! Check out this free report to learn more: tedthomas.com/freereport
Thank you. I’m glad I found your channel.
I'm so glad! Keep watching for new videos weekly! In the meantime, here is free mini-course...www.tedthomas.com/gifts
Thank you so much ted
You are very welcome
Hey Ted, when you purchase a tax lien and someone does not pay you in the first year. Do you have to continue paying the property taxes for the property for the next 2 or 3 years assuming it's never redeemed?
Thanks for your question. If you purchase a first-year tax lien certificate and no one tells you, I’ll tell you to buy the second and third year at the same time because you will earn the high-interest rate and you will own all the certificates. Otherwise, if you buy the first year, someone else can buy the second year. If nobody buys the second year, you will have a big problem. - Ted Thomas
Hi, thanks so much for this information I just subscribed! Can you actually classify buying tax certificates a business?
Yes, absolutely! Thank you for subscribing - Ted Thomas Team
Ive heard recent court cases where the government is not allowed to keep the proceeds of the sale beyond what tax is owed and any profit generated must be returned to the owner. How does that affect these deals?
It does not affect the sale :)
Thank you Mr. Thomas
You are very welcome
Your shirt is so rare!! Love it!!
Thank you Nam!😊
How often does a disgruntled homeowner damage the property when they finally leave or evicted? How bad are some of the damages?
@Gary Downes - if you have so much fear about that why not invest in land only? And about 97 percent of people will redeem - you will end up having your money repaid. So they will not want to trash their own property.
Thanks for your question, sorry I don’t have a great answer for your question. I am in the business of purchasing tax defaulted properties and they are in all stages - some need paint and clean, some are just junk, and others have just been abandoned. Good luck on your search. - Ted Thomas
First of all, private properties are supposed to be 100% tax exempted, govt sold the land to all settlers, it's called land purchase. And that makes the property un-taxable! Rothschild Financial System really did a number on this! They created this system only to make them wealthy and others poorer - many were killed trying to whistleblow. When people wake up to this, they'd want all tax $ refunded once they change their status. Secondly, all foreclosures are a fraud and is actually Grand Larceny in broad daylight! (Their homes were already paid off from the funds they never knew they had all those years) They still owned it all the way til it's sold, it's a theft by all banks. Please investigate yourself before diving into anything. It is pure fraud. Many are fighting against banks to bring power back to themselves as we speak. Whoever buys foreclosed homes is actually buying stolen properties. Banks hid all this infos hoping no customers would find out, they thought wrong.
Gary, many years ago I purchased a lien, after three years i applied for a treasurers deed. One week after I received the treasurers deed the cabin was burned to the ground. I did not have insurance. I sold the lot for 15k after I cleaned it up. Probably lost 85k do to the arson.
What do you do if you buy the tax lien and the owners are still living in the property and they do not pay their taxes and you were deed the property. How do you go about evicting them? Can anybody answer this question for me please for the state of Indiana
If you find yourself in this situation, it's important to consult with a real estate lawyer who is familiar with the laws in Indiana. They will be able to guide you through the process of evicting the owners and help ensure that you're following all the necessary legal steps. - Ted Thomas Team
Great explanation Tom. This information is invaluable.
Glad you think so!
I like this good info.
Glad it was helpful!
Thank you 🙏God bless
Thank you!
Ted - thanks for the video.
I want to make sure I understand, because this seems almost too easy.
I'm in Colorado and the county has tax liens for sale. There is one for sale that is vacant land in a part of town that is developing quickly. The amount due isn't much - right at $500.
But you're saying I could buy it for $500 and just sit on it.
If the owner pays the tax bill, he pays it to the county. The county then pays me the $500 + 12% interest.
I don't have to collect it myself? The county collects it and remits payment?
And if for some reason the owner doesn't pay the bill over the next 3 years (and I pay the taxes each year), I can take possession of this empty lot in a primo spot?
Hi Hunter, everything you said is correct! Here is the state statue: Colorado Revised Statutes, Title 39, Articles 11, and 12. and here are the bidding rules for Denver County - denver.coloradotaxsale.com/index.cfm?folder=showDocument&documentName=biddingRules
@@Ted-Thomas Thanks!
Do you know if the amount you paid is the same amount you pay every year? Also, how do you know your interest amount?
Thanks Ted. I attended a real estate seminar a few years ago and they briefly touched on Tax Liens. I was supposed to attend a seminar here in Charlotte a few days ago but I couldn’t attend. Are your seminars available in NC?
Hi Aisha, we actually host one-day virtual workshops for anyone to attend! tedthomas.com/1dayworkshop
It's some riba involved so becarful with this insha Allah swt .
Hi Ted, on every video you say click below, however there is nothing on every video to click on. So how do I move on to learn from you?
Hi Javier, when I say "below me" I mean the description. Here is how you can learn more -tedthomas.com/gifts
After you get your tax lien certificate, are you responsible for paying the taxes on the property for the duration of the 24months?
Thanks for your question. You're not responsible for paying the subsequent taxes, however, my recommendation is to continue taxes, after all, they are only 1-2% of the value so you own all tax lien certificates, otherwise someone else could get the property. - Ted Thomas
Do you have to involve a lawyer when buying a tax lien property?
Hi Patty, it is not necessary to hire a lawyer - Ted Thomas Team
do u get paid back only what u paid for the certificate if homeowner does pay the tax lien ?? Or do get a interest on top of what u paid for it ??
Hi Rudy, you will get your initial investment plus your interest rate when investing in tax lien certificates. - Ted Thomas Team
Great video! Thank you for sharing! But I had just a few general questions I was hoping you could answer. My state says the interest I can earn on a tax lien certificate will range from 6%-18%. What determines what interest rate I will get? Secondly, do you always have to wait 2 years to reap the benefits? That seems like a long time. Would you say the more the tax lien is the more likely they are to not pay? And lastly, I know you said that if they don't pay you will assume the property with out a mortgage. But can there be any other liens or fees on the property you will be required to pay?
Hi Keith, I can not answer this accurately without knowing what state you are located. If the interest rate ranges from 6%-18% then you need to see what the bidding method is, it could be a "bid down" interest rate. - Ted Thomas Team
Nice Video but What happens with other liens on the property if they don't pay and you get the property it has no mortgage but what if there are other liens , IRS liens state liens the list goes on....other personal liens
Thanks for asking your question. You need to start doing your homework and you will find as you mention the mortgage or deed of trust loan are wiped out and terminated by the treasurer however there still could be municipal liens and federal liens which you need to research because they will stay on the property. - Ted Thomas
Ted, thank you for all the information. I live in Broward County, FL. My question is, after purchasing a tax lein, how long does it usually take to receive the interest earned ? or does that depend on the property and if and when the owner pays? thanks in advance!
Thanks for your question, tax lien certificates pay when the property owner pays. - Ted Thomas
Hey Ted, do you have a link to the data that reflects the claim by county treasurers 90%+ of tax liens are paid back? Is this statistic nation wide or just for Florida?
Thanks! We don’t know the liens on the property only the claims so buyers and sellers can go to the public records and county public liens. - Ted Thomas
Hey Ted, I would love to learn to do this in Ga specific Warner Robins Ga and Clayton county. I’m in the air national guard.
Here is some information about Clayton County, GA : publicaccess.claytoncountyga.gov/forms/htmlframe.aspx?mode=content/home_commissioner.htm
Don't you have to file the Tax Certificate with the county and then wait 7 years to obtain the property in FLorida?
Hi Celica, the redemption period in Florida is two years. As a certificate owner you can start the process to take the property to a tax deed auction. Florida is a little different than other states, here is some more information: tedthomas.com/portfolio/florida-tax-liens-video/
Do you have to pay the full amount or percentage of the tax lien certificate. Tax liens in South Carolina are in the six figures to millions.
Each county will have it's own rules. To my knowledge you must pay the full amount of the tax lien certificate.
So what happens when the certificate expires?
Great question, I think this article will help you understand better: tedthomas.com/what-is-the-redemption-period-for-tax-liens/
How do you know if you’re over paying for a tax lien certificate?
Thanks for your question, you don’t have any choice when you buy certificates! The certificates are the taxes that are owed on the property. The tax assessor determines the tax. - Ted Thomas
What happens if the state you buy the tax lien/deed in doesn’t have a redemption period?
A tax lien certificate auction will always have a redemption period - Ted Thomas Team
Ok but how is it profitable if they keep the property? Do you only get back what u spend?
Who is they? I do not understand your question
Hi Thomas how you doing I can afford you training to learn how to buy tax liens certificate from the county ❤
We'd love for you to join our virtual workshop, check it out here: tedthomas.com/1dayworkshop
What happen if a property in Florida has a tax lien for the last 3 years. If I pay the last 3 years can the property be foreclosed on?
Thanks for you asking your question. I am not sure of your circumstance. I am not giving you advice on buying or selling. Review the county rules. Generally speaking, if you pay for the certificates for all years in Florida the next step is to petition/request the county conduct a tax deed sale. - Ted Thomas
Ted, why wouldn't the mortgage holder pay the back taxes and keep the property themselves?
Thanks for your question. When a property goes into default the county will engage in a process which they call due process of law, which simply means they will notify the property owner and they will notify the lender or institution that has the mortgage or deed of trust loan. To stop the auction the lender or institution could just pay the taxes. Now things get a little bit more complex, when you borrow money on a property the mortgage holder or deed of trust holder will require you to sign a contract which is a promissory note which has three covenants (promises) #1 you will pay the note. #2 you will pay the taxes, #3 you will keep your insurance current (paid for). If the property owner didn’t pay taxes and you paid the tax certificate the mortgage lender knows that the properties is in default, at that point the mortgage lender could foreclose on the property. I am not an attorney, broker, or a lender. I am not giving you legal advice - Ted Thomas
Right on. Banks don’t want to own property. Banks wanna make money on lending out money. Other peoples money.
This guys shirt game is deadly.
😏
Do you have to pay the tax for the future 3 years before the foreclosure?
Yes that is recommended - Ted Thomas Team
Hi Ted, I live in Illinois and would like to business here. Do you offer 1 on 1 training course?
Hi Kurt, we do offer one-on-one coaching. If you are interested you can email info@tedthomas.com
How do you get the address from the paper?
The county will list the parcel ID number which you can look up on the GIS Mapping System - Ted Thomas Team
When will be getting interest every month?
No you do not get monthly checks, you will get a check when the delinquent property owner comes in to redeem the certificate - Ted Thomas Team
How long do they have to pay the lien before eviction? Florida
Florida is a little unique when it comes to tax lien certificates, here is some more information: tedthomas.com/is-florida-a-tax-lien-or-tax-deed-state/
In the auction bidding up, if lets say owed taxes are 10K, but you paid 20K in bidding, do you get certificate for 20K or 10K and get 20K plus interest and fees or 10K + interestcand fees at redemption?
Great question! That answer depends on the county rules. Places like Texas and Georgia you receive your TOTAL bid amount, places like Maryland you only receive interest on the minimum bid. To find this information it would be in the rules for the county auction you are interested in attending - Ted Thomas Team
Hey Ted - are you able to buy tax lien certificates if you are not a resident in the state you are wanting to buy? EXAMPLE: I live in NY and want to buy in GA.
Yes!
Are the profits you make taxable once you get your money back plus interest?
Thanks for your question. Interest is income, income is profits! In every state, county, and the republic of the United States you will pay taxes. - Ted Thomas
If you win the certificate auction is the interest paid on the amount of back taxes or the winning bid amount?
Hi Terry, great question. That depends on the county/state you are participating in. So make sure you read the rules! - Ted Thomas Team
How much do
You need to start???
You don't need a lot! Tax liens can be as low as $100-$500 and as high has thousands of dollars. - Ted Thomas Team
My question is do u keep on paying for the tax Through the time that they're still living there or is it a one time Payment
Thanks for your question, when you buy a tax lien certificate and you buying the first year more than likely the county treasurer will ask you if you want to pay the subsequent years and my answer would be of course you do. - Ted Thomas
How long would that be ?
Each state is different.
Alabama, Colorado, Nebraska are 3 years. Wyoming is 4 years.
Just Google your state. There are 1 year state/states.
So when I purchase a Florida tax lien certificate and the owner does not pay within the redemption period the county will reward me the property?
in Florida it is a little different, the property will go to a second auction - so as the certificate holder you will get paid in Florida but you do not get the property after the redemption period - Ted Thomas Team
What states will you get the property, if they don't pay?
I never got a check from the government
I did tax lien and got a tax lien certificate in Florida. I still have it never did anything else with it to claim the property which I should claim it by now
In Florida you need to contact the county and apply for a tax deed auction so the property can go through a tax deed auction. In that case as the certificate holder you will be paid your money plus interest you secured on your certificate. - Ted Thomas team
If you have a property that you have multiple tax liens on and foreclose on the liens. Do you own the property outright, or does the property then go to a deed auction in which then the highest bidder owns the property?
Thanks for asking your question. When you foreclose you foreclose out all other liens and you own the property. Next time a tax bill is issued you are responsible for the tax bill. - Ted Thomas
@@Ted-Thomas thank you
Horrible, mortgages, mechanics liens etc are gone. Municipal liens DO NOT go away. If a property owner has a trashy parcel and the city or county fines the owner and charges a daily fee for each day it's not brought to code then that will be your responsibility. I have a lien now that has over 6k in fees and fines for not cutting grass. If I take possession then I owe that money.
For me, I go to the city council and ask to negotiate. At the end of tge day the city wants it cleaned up and someone paying the taxes so they usually will negotiate some of that.
You said everything three times.
Repetition is the key to success 😉
Ok so I’m new to this if I purchase a tax lien that means I pay the owners taxes for the rest of the year? And or I pay on the taxes that was behind and or if the owner dnt pay whatever is left the fall into default and I get there property without a mortgage??????????????????????
Thanks for the question. Property tax works like this - each year the property owner must pay property tax. In half the states the tax lien certificate states, if they don’t pay their tax, they will be in default. The county will issue a certificate. If they continue to be in default the next year, you can buy that year. If you continue to buy the subsequent years in the majority of states you could foreclose and take the property. - Ted Thomas
Ted, if you buy the 1st year certificate do you have right of first refusal to buy subsequent years or is it bid on each year? It’s an auction so year 1 my have cost you $1,000 but year 2 might be different like $2,000?
dear ted
i registered with the company lien hub
according to them if owner dont pay you dont get paid and you loose money
is it true
if the owner dont pay you could foreclose on the property. as long it is past 2 years .
You are so smart
Thank you 🤓
is it legal to purchase tax liens from a state you dont live in?
Hi Don, no! Just read the auction rules before attending but that is the advantage of online auctions - Ted Thomas Team
So if you buy the first year of tax liens but someone else comes in and buys the second year away from you, do you lose all the money and the 18% return that you put in or will you still receive that at the end of the year?
Hi, whatever year you purchased the certificate once that is redeemed you will receive your money plus interest.
Hi Ted! So I bought a tax lien certificate in Arizona. I paid through OTC. The owners haven't paid tax in 10-13 years. I paid all the liens for the years taxes weren't paid. Do I still have to wait 3 years ? Do I have the option to keep paying the taxes during the 3 years redemption period? Can I start foreclosure since they haven't paid for over 10-13 years? Thank you.
@@MrKazasoyze I think you can
So the county does the eviction?
Yes
Sometimes!
Love your idea on Tax lien Cert.
So glad!
hey Ted - is the only good time to buy these in May/June? I just looked through about 30 different highly populated counties in my state and the certificates left over seem like horrible investments. They were liens on land that seemed like a strip or a property that is land only in the middle of no where.
Hi, Yes May-June is when Florida hosts there annual tax lien certificate auctions so that is the best time to invest. Here is an online auction site for Florida tax lien certificates - lienhub.com
@@Ted-Thomas wow - thanks for the quick response! i thought something was a bit off when I ran into your videos and then started to look in Florida and it was just awful properties! I'm going to try to sign up for your December course b/c I have about a hundred questions for you.
@@DarkDMD Hey, I wanted to ask if you have invested yet in any of the properties? Is there a link for the lien hub in Illinois?
@@nicolepacasova3251 no, I figured out how to do it in Florida and buying these is more like winning the lottery. People are buying them for 0% return and theya re bought up instantly.
@DarkDMD how do I do this in Florida, I live in Jacksonville. Thanks
How can I get coached by you?
Hi Bre, I host a virtual workshop twice a month, here is some more information: tedthomas.com/1dayworkshop
What's a good website to find out about MD law?
If I understand, in FL you can foreclose on the property if you hold the tax lien for 2yrs? What if you don't foreclose on it, you lose the money invested?
How do you start the process of foreclosing, do u get a notice from the county at that point?
Hi Rebecca, here is good information regarding Montgomery County, MD tax lien certificate sales www.montgomerycountymd.gov/Finance/TaxSale-general.html
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:) tedthomas.com/freeauctionlist
Tax Liens are a great way to diversify your real estate portfolio
Absolutely!
I need your free gift
Hi Sarah, here is a free report - tedthomas.com/freereport
You wouldn't married the woman unless you looked at her 😂
😂
Thank You look me up on RUclips God bless keep in prayer read KJV Holy Bible Matthew 6:7-14
Thank you!
@@Ted-Thomas i wish i would have met you years ago i am very interested in learning about tax leins thank you