Do you know the difference between Tax Lien Investing & Tax Deed Investing? It's easy to mix them up. Learn the difference by checking out this video called "Tax Liens Or Tax Deeds - Which One is The Most Profitable?" ruclips.net/video/pQlKqcRlXGE/видео.html
Yep, that's right for Texas. Non-residential properties have a 6-month redemption period, while homes, farms, or mineral-related properties get 2 years. And don't forget, there's a 25% penalty on redemption.
@@DustinHahnREIwait so I thought 2 years wss only for Homestead exemption. Which one is it 2 years for Homestead exeption only or 2 years regardless? I thought it was 6 months land or house as long as it doesn't have an exemption.
Hi, Dustin! Love your channel- great, straightforward, and helpful instructions on how to jump into this type of investing. I have a question - when you have the list of properties, is there a way to quickly identify which properties are rental (whether vacant or not) vs. just land, etc.?
Thanks for the kind words. To quickly identify rental properties versus just land, check property descriptions for keywords like "rental" or "vacant land." Use county assessor websites for detailed records and look at zoning information. Hope this helps!
So the homeowner who owed say 2K in taxes.... but you the buyer of the tax lien paid 8K at auction.... the homeowner will have to pay the buyer 8k + 25% .... am I understanding this correctly?
Great question! Yes, it does matter. Exemptions, such as agricultural (AG) exemptions, can impact the tax status and bidding process of a property. Each type of exemption may have specific rules and protections that affect tax lien and deed sales. It's important to understand how these exemptions work in your area before investing.
I could sure use your help. I own 195 acers in texas. I live a couple hours from it for now. But ive started looking into tax sales for one reason only. Ive noticed property that butts up to my property that is listed in upcoming tax sale. Id just like to purchase it for another deeded entry to my property
That sounds like a great opportunity! You can book a call with us here: linktr.ee/dustinhahnrealestateinvesting so we can figure out the best plan for it.
Not all properties get sold at tax lien and deed auctions. Unsold properties may be re-offered at future auctions with a lower minimum bid. In some jurisdictions, they can be purchased directly from the county in over-the-counter sales. If properties remain unsold after several attempts, the county may retain ownership and use them for public purposes. Additionally, sales can sometimes be negotiated with interested buyers outside of the auction process.
Nice video, I got your booklet on places to call for tax sell maybe five years ago, do you have an updated version or can you do a video about where the best place to look for the best return? Thanks again
Awesome! Yeah we haven't updated that in a while, but a lot more of the counties are doing online stuff now so with a quick google search you should be able to get all the data you need!
I am looking to purchase a property that has a mobile home on it. The sale is only for the land. What are the implications of purchasing a property like this?
New to the idea, but I would be buying my first as a primary residence. If there is a mortgage for the property, who is responsible for it? For instance, I see a home, I win the auction and get the deed for $40k. The pervious owner still owes $200k on the mortgage. Am I now responsible for paying that mortgage, or is the $40k I pay all the property will cost me? And the mortgage still lies on the pervious owner?
@@DustinHahnREI hi dustin! since there are 3 types of sales do all of them wipe out the mortgage or only the ones done by the state? for exemple do hoa sales wipe out the mortgage and taxes owed to the state ? and do bank foreclosures wipe out backed taxes and hoa?
If you paid $10,000, then they would have to pay you $12,500 to redeem it. If they don't redeem it, then get a Realtor and sell it on the MLS for marketing value. It could be worth $30k!
I need some help w a relatively dirty Tax lien I got from Harris County Tx. Paid lineberger, etc. the guys that hooked me up is a conman and I shouldn’t have dealt with him again. A lawyer thinks the prior deed is dirty and is not sure if I’m SOL. I gave Harris Cty. Their 30k and misc. signed by a county official . Do I need a lawyer to foreclose. Been 14 months now? Happy to pay for help. Regards
as an out of state investor, who would rather have the properties redeemed and receive my 25% do you have a strategy? Oregon, my home state does not have this type or deed option. I hear alot about "most" properties being redeemed -- you seem to think differently.
sir you are incorrect you can not sell the property period full stop during redemption. you have limited possession rights to maintain safety but you can not sell. you would not be able to produce a warranty deed or get marketable title
Hey Sensere! You can actually sell it, but you are correct in saying you can't get a warranty deed or remarketable title. There aren't a lot of buys who would buy it, but if someone really wants the property, you are able to transfer the deed, but you wouldn't be able to get title insurance or anything until the redemption period is up. Thanks for the comment!
Hey! Generally the mortgage gets wiped at the sale, but if you are buying a property with a mortgage, just make sure you get it cheap enough so that it's still profitable!
Do you know the difference between Tax Lien Investing & Tax Deed Investing? It's easy to mix them up. Learn the difference by checking out this video called "Tax Liens Or Tax Deeds - Which One is The Most Profitable?" ruclips.net/video/pQlKqcRlXGE/видео.html
I was told in Texas that the right of redemption is two years if there is a physical property plus the 25%. Only 6months for land only.
Yep, that's right for Texas. Non-residential properties have a 6-month redemption period, while homes, farms, or mineral-related properties get 2 years. And don't forget, there's a 25% penalty on redemption.
@@DustinHahnREIwait so I thought 2 years wss only for Homestead exemption. Which one is it 2 years for Homestead exeption only or 2 years regardless? I thought it was 6 months land or house as long as it doesn't have an exemption.
Hi, Dustin! Love your channel- great, straightforward, and helpful instructions on how to jump into this type of investing. I have a question - when you have the list of properties, is there a way to quickly identify which properties are rental (whether vacant or not) vs. just land, etc.?
Thanks for the kind words. To quickly identify rental properties versus just land, check property descriptions for keywords like "rental" or "vacant land." Use county assessor websites for detailed records and look at zoning information. Hope this helps!
If you win the bid and then go to secure the house and it is unoccupied what would you do with any personals property that was left, throw it away?
So the homeowner who owed say 2K in taxes.... but you the buyer of the tax lien paid 8K at auction.... the homeowner will have to pay the buyer 8k + 25% .... am I understanding this correctly?
wow Dustin I have been following you since 2006 when I was in California, Im in texas now, good for me, back then you had more hair ;)
LOVE IT and solid joke haha. Had to get rid of it for personal reasons ;)
You mentioned homestead exemptions, but does it matter if there is an AG exemption? Or any other exemption?
Great question! Yes, it does matter. Exemptions, such as agricultural (AG) exemptions, can impact the tax status and bidding process of a property. Each type of exemption may have specific rules and protections that affect tax lien and deed sales. It's important to understand how these exemptions work in your area before investing.
I think a great idea is getting the ones that have taxes owed and the owner is dead and a family member is unlikely to redeem
I could sure use your help. I own 195 acers in texas. I live a couple hours from it for now. But ive started looking into tax sales for one reason only. Ive noticed property that butts up to my property that is listed in upcoming tax sale. Id just like to purchase it for another deeded entry to my property
That sounds like a great opportunity! You can book a call with us here: linktr.ee/dustinhahnrealestateinvesting so we can figure out the best plan for it.
Do all property’s get sold at auction? What happens with the leftovers?
Not all properties get sold at tax lien and deed auctions. Unsold properties may be re-offered at future auctions with a lower minimum bid. In some jurisdictions, they can be purchased directly from the county in over-the-counter sales. If properties remain unsold after several attempts, the county may retain ownership and use them for public purposes. Additionally, sales can sometimes be negotiated with interested buyers outside of the auction process.
Nice video, I got your booklet on places to call for tax sell maybe five years ago, do you have an updated version or can you do a video about where the best place to look for the best return? Thanks again
Awesome! Yeah we haven't updated that in a while, but a lot more of the counties are doing online stuff now so with a quick google search you should be able to get all the data you need!
@@DustinHahnREI
Ty
No I did not. I am trying to get a lawyer to start action but it’s been tough. Thanks is you can help
Hi! How do we get more details, perhaps examples on how to invest in Texas? Thank you in advance
How do you know if it has a homestead or not?
usually the county tax website will indicate it or call the county tax office and they will validate if there is a homestead on the property
So once you win it at a auction like buy it for $2500. Do you have any other fees to pay?
Yes
can you move into the property during the redemption period?
We don't recommend that at all. It could be potentially bad.
I am looking to purchase a property that has a mobile home on it. The sale is only for the land. What are the implications of purchasing a property like this?
New to the idea, but I would be buying my first as a primary residence. If there is a mortgage for the property, who is responsible for it? For instance, I see a home, I win the auction and get the deed for $40k. The pervious owner still owes $200k on the mortgage. Am I now responsible for paying that mortgage, or is the $40k I pay all the property will cost me? And the mortgage still lies on the pervious owner?
@Dustin Hahn
The great thing about Tax Auctions is the mortgage is wiped out. All it will cost you is the 40k.
@@DustinHahnREI hi dustin! since there are 3 types of sales do all of them wipe out the mortgage or only the ones done by the state? for exemple do hoa sales wipe out the mortgage and taxes owed to the state ? and do bank foreclosures wipe out backed taxes and hoa?
Hey buddy, are you from Texas?? I would like to go on action with you if you offer this opportunity.
I am from Houston
If the tax owned is 5000 and I bid it for 10k. Am I getting 25% penalty of that 10k or 5000 ?
You would get the penalty percentage of the amount you paid at the sale!
If you paid $10,000, then they would have to pay you $12,500 to redeem it. If they don't redeem it, then get a Realtor and sell it on the MLS for marketing value. It could be worth $30k!
So who gives you the money back plus the 25%? The owner or the county? I’m just curious how they reach out to you
The owner, if they want to redeem the property
@@javierbarranca350no the county does. The owner pays back the county. The county pays you
But the money doesn't come from the county it comes from the owner
I need some help w a relatively dirty Tax lien I got from Harris County Tx. Paid lineberger, etc. the guys that hooked me up is a conman and I shouldn’t have dealt with him again. A lawyer thinks the prior deed is dirty and is not sure if I’m SOL. I gave Harris Cty. Their 30k and misc. signed by a county official . Do I need a lawyer to foreclose. Been 14 months now? Happy to pay for help. Regards
Did you get this settled?
as an out of state investor, who would rather have the properties redeemed and receive my 25% do you have a strategy? Oregon, my home state does not have this type or deed option. I hear alot about "most" properties being redeemed -- you seem to think differently.
Most of the time you will get the property. Best to go with a lien state like Florida or AZ.
sir you are incorrect you can not sell the property period full stop during redemption. you have limited possession rights to maintain safety but you can not sell. you would not be able to produce a warranty deed or get marketable title
Hey Sensere! You can actually sell it, but you are correct in saying you can't get a warranty deed or remarketable title. There aren't a lot of buys who would buy it, but if someone really wants the property, you are able to transfer the deed, but you wouldn't be able to get title insurance or anything until the redemption period is up. Thanks for the comment!
You can sell the deed and not the property at its highest and best use
How do you look up a property by its legal description?
Each county is a bit different. Give the tax assessor a call and ask how its done the the county you are interested in.
You can look it up by address, or grantor on Appraisal District website
Your Videos are always instructive. What will happen if I by a property that still have mortgage on it?
Hey! Generally the mortgage gets wiped at the sale, but if you are buying a property with a mortgage, just make sure you get it cheap enough so that it's still profitable!
@@DustinHahnREI Thank you.