Cyba Secrets: Tax Lein Certificates

CybaCipha

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A tax lien is a lien imposed on property by law to secure payment of taxes. Tax liens may be imposed for delinquent taxes owed on real property or personal property, or as a result of failure to pay income taxes or other taxes.

hxxp://en.wikipedia.org/wiki/Tax_lien

***************
When a property owner is late on paying real property taxes, the county or municipality will issue a a tax lien on that person's property. Certain states allow the tax lien to become a first lien on the property, which is then turned around and sold at auction as a tax lien certificate.

After placing a successful bid, buyers of a government-issued tax lien certificate will then get one of two things:

1) A state-mandated yield from the lien, which the delinquent taxpayer must pay in order to release the lien, OR

2) Title to the property (after a certain amount of time, set by the jurisdiction) if the delinquent taxpayer fails to pay up.


Individuals have been snapping up tax liens more and more because of these two benefits. A fixed percentage rate, mandated by a government agency, or the title to property at a substantial discount are incredible benefits rarely seen with other real estate transactions.
 
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CybaCipha

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Platinum Member
Tax Lien Certificates are an interesting vehicle, but there's a lot of details involved.

Not all states offer them.
the way they work is pretty interesting- counties who assess property tax get some property owners who don't pay their tax. What the county does in order to secure the debt is to attach an encubrence, a lein, on the title of the property. The lein is essentially an interest-bearing note, a second mortgage of sorts. After a certain amount of time in default, the holder of the lein is entitled to foreclose on the property.

The problem is that the default period takes time, and the counties need the money now to fill their budgets... so what they do is allow investors to buy the lein. As the Lienholder, you are entitled to collect the interest on the debt, and the interest rates can be substantial.

...but here's where it gets interesting.
Some counties will auction off the lein to the investor willing to accept the lowest rate of return. Some counties will auction off the lein to whomever will pay them the most money on top of the taxpayer's debt. If, for example, you buy a Lein Certificate in CO for the taxpayer's debt plus a couple thousand dollars *and* the taxpayer redeems the property the next day, you lose money. If you buy a Lein Certificate in another state where the auction is competitive, you may be buying a note with fairly low interest and now your money is tied up in a low-yield instrument for as long as it takes for the landowner to redeem the property, or until you forclose.
Before investing in a Lein Cert you have to know where your 'line of profit' stands- how long will the Lein need to be outstanding before you make a profit, if you're in a state like CO? How low a rate can you accept if the bidding at the auction is competitive? How long can you stand to have your money tied up in the Lein?

If you buy a Lein Certificate on a property that's worthless, or worse, has industrial waste on it, you stand to be the owner of a liability, rather than an asset- so if you're interested in doing this, make sure you approach it as a real-estate transaction. The lein's potential value is tied to the value of the property it's attached to. If it's swampland, if it's undeveloped, if it's industrial, you have to know why before you invest. If it's residential, this is good- chances are that it'll be redeemed and you'll get your money, or if they default chances are good that the property is valuable.

Tax Liens are only as risky as bonds and real estate combined... and that's saying something. Make sure you know what you're getting into. If you're serious, you'll have to put some work into this- investigate the property records, run a title search, if you can, visit the property or have it inspected by someone knowledgeable. ...of course, keep in mind that the current tenants might not appreciate it.

Keep also in mind that if the taxpayer defaults, you've got to serve papers and take legal action fairly promptly to take possession- and this can be a ruthless move. If they stay on the property in some states, they can claim ownership by virtue of 'adverse tenancy'. If you're not prepared to exercise your rights, and to spend a little money on legal advice, service, and also to pay the property taxes on the property you now own... you will lose your investment.

so- there's a LOT of information to be on top of, there are expenses involved above and beyond your investment, there are cases where you won't make money on your investment, and if all that sounds like too much work and risk... well, maybe it isn't for you. That said, occasionally you'll get 16% or more out of your money for as long as the Lein is outstanding... and in really rare situations, you may end up owning a property worth 1000% of what you invested. Most of the time, however, rates are lower than that and properties are redeemed within a year.
When you buy a Lein, you're essentially paying the landowner's taxes up to current, and in return you get two things: the right to collect interest on the debt, and the right to be first in line to foreclose on the property.

If the property is not redeemed within the year, you'll be obliged to pay the next year's taxes on the property, or else the county will issue another Lein to another investor, who will in turn have first right of foreclosure in case of default. In that case, you'll still be paid off if the Landowner redeems the note. Also, if the landowner redeems the other note, you'll be back at the head of the line... but if that doesn't happen and the landowner defaults, you're left owning bad debt that isn't secured by property.

In order to protect your investment, then, you'll have to continue to put money into the Lein every year it is outstanding. That means more interest and principal you'll get out if the landowner redeems the property. If they're headed for a default, however, you'll need to be prepared to cover his tax liability for several years before seeing any return.

hxxp://www.chrisj.winisp.net/freedom/tax_leins.htm
 

CybaCipha

Rising Star
Platinum Member
Advantages:
1. Gov't guaranteed returns
2. Been around for 150 years.
3. Interest rates are fixed and will stay high no matter what.


In a nutshell ....

Property owner fails to pay his taxes.
Local and state governments sell delinquent taxes in the form of tax leins to raise money.
If the taxes remain delinquent long enough the owner will risk losing his /her property.
Interest rates and penalties keep accruing on this delinquent tax debt.


As a tax lein holder you have the same rights as the state would have.
You are entitled to the same fees, penalties and interest due on the delinquent taxes.
Some states use a deed to transfer title of property.

Learn what type of state you live in. Deed state or certificate state.

Deed states will put the property up for auction to cover delinquent taxes.
Certificate states will put the property up for auction to cover delinquent taxes.
The majority of tax certificates are secured by a property and property owners have to pay the winning bidder by law or lose the property.
Laws differ from state to state so look your shit up.


What's in it for the homeowner?

Selling your property is almost impossible to sell, buyers dont wanna deal with your debt and Getting title insurance is almost impossible.
Getting a loan will be difficult, the bank or mortgage company doesn't want to jeopardize their first position which they lose if there is a tax lein.
In many states, tax leins take first position over the first mortgage or any creditor.

What if it goes to auction?
If the property goes to auction, the investor has the right to pay the taxes penalties and interest.
The investor gets to own the property or become part owner of the property once you pay this off.
 
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CybaCipha

Rising Star
Platinum Member
Tax Lein States - you can find the notices about the auction in the classifieds. The investor who accepts the lowest rate of interest wins the auction.

Tax leins - for the investor who is looking for a high rate of return.
- the investor will pay the delinquent taxes and will get a tax lein certificate in return.
- States: AL, AZ, CO, FL, IL, IN, IO, KY, MD, MI, MS, NE, NH, NJ, ND, OK, PR, SC, SD, VT, WV, WY.
- Determine what interest rate you are looking for.
- How do you plan to purchase the tax lein?
- SEP?
- Pick states who are in better financial shape.
- low unemployment
- projected growth
- higher rates of return on their tax leins
- Real estate not depreciating as fast
- Lower foreclosure rates
-
 

CybaCipha

Rising Star
Platinum Member
Tax deed States - for the investor looking to get properties for pennies on the dollar.
- how do you plan on researching the land/property on these deeds?
- Consider cleanup/rehab costs
- what if the property needs to be knocked down?
- What is your exit strategy? Sell, lease or hold?
- look for states whose economies are poor.
- recession, unemployment, dropping RE prices
- if foreclosure rates are on the rise, you better buy

All the states not listed above are tax deed states.
 

CybaCipha

Rising Star
Platinum Member
Some of the more attractive states to invest in.
cert = certificate state
deed = deed state

state - lein type - percentage - redemption period.


AL - cert 6- 18% 3yr redemption
AK - Deed 0% 0 red
AZ - cert 8 -10 % 6 mos
CA - Deed 0%
CO - Certificate
CT - Deed
DE - Cert 15% 3mos red
FL - Cert 18% 2 yr red
GA - Deed 10% 1yr
HA - Deed 1yr red
**IL - Cert 18 -36% up to 2yr red
LA - 5 - 41% 3 yr red
MA - Deed
NJ Cert 18% 2yr red
NY Cert 12% 2 yr red
PA Deed state
TX deed state
VT deed
VA- deed
 

CybaCipha

Rising Star
Platinum Member
If you want to make money online go to the business threads and search for Making money online.
Class of cash
http://www.bgol.us/board/showthread.php?t=340060
Inbox Dollars
http://www.bgol.us/board/showthread.php?t=340588

If you want IT education and certification go to my IT education thread. That shit is at least 10 pages.
http://www.bgol.us/board/showthread.php?t=264478

AND I posted a terabyte of PORN just so you ignant ninjas hear me!
http://www.bgol.us/board/showthread.php?t=333485

FOR MY STOCK AND TRADING LIBRARY
http://www.bgol.us/board/showthread.php?t=344332

The Graphics training thread
http://www.bgol.us/board/showthread.php?t=324744

CYBA's Real Estate Investor Training Thread
http://www.bgol.us/board/showthread.php?t=359698
 

Andeyhollawho

Rising Star
BGOL Investor
Cyba does it again. :dance:

So I'm in GA which is a deed state. So I bid on it and I am entilted to 10% interest on the deed. If the homeowner doesn't pay that tax then essentially I can foreclose on the property and recieve it as payment as long as I come up with the 10% tax that following year???
 

CybaCipha

Rising Star
Platinum Member
Cyba does it again. :dance:

So I'm in GA which is a deed state. So I bid on it and I am entilted to 10% interest on the deed. If the homeowner doesn't pay that tax then essentially I can foreclose on the property and recieve it as payment as long as I come up with the 10% tax that following year???

Correct, but its more steps to it. I'm at the point that I just want to make that 10% plus penalties. I'm updating this thread as I get more into it.

So far I know that :

If you want to foreclose you better build your "team" beforehand.
Team:
Lawyer familiar with the foreclosure process. You need a shark who knows the deal.
Real Estate agent who is a power seller. You will want to get rid of the property for a decent price asap.
Title company - you will want to know if there are any other leins on this property before you foreclose. I've read where dudes approach the first mortgage holder and get them to pay the lein. Remember, you have first position and can foreclose ... usually the 1st mortgage holder doesn't want to lose their position.
 

CybaCipha

Rising Star
Platinum Member
What state to invest in?

Consider state laws and procedures before you start investing.

The redemption period is the legal amount of time that the state will allow a delinquent owner to pay off the tax debt and penalties without losing the property. If the homeowner doesn’t pay off the back taxes and penalties within the redemption period we (tax lein holder) can foreclose on the property. The shorter the redemption period, the better. The tax department in your state can tell you what the redemption period is.

Notification – You might have to notify all interested parties (all owners, mortgagers, other leinholders, even tenants). You must do this if it is required by your state/county.

Auctions/purchase- some states require a large deposit before bidding, bid through mail, bid in person, registration before the sale, registration after the sale, immediate payment, payment in 30 days,

Statute of limitations
– find out if they require you to foreclose to satisfy payments of taxes, fees, etc.

Assignments
– can be assigned unless specifically stated in the contract. Check your state laws. If you assign, make sure you record it with the state/county recorders office.
 

Incarcer8dagain

Rising Star
Registered
i am following you on this one, i am in texas and I am looking at the 25% penalty as a good investment opportunity. If they redeem the property, or the property itself. its really interesting because u cant get that rate from many investments whether it be 2 year or 6 months.

Heres a good question for you Cyba, what if the homeowner files bankruptcy during the redemption period, could this exclude them from paying the debt thus the investor losing their money, or does the right to imediate possession automatically award the investor the property?

I am researching this as well, i will drop any info i find out here as well. good stuff here. thanks
 

CybaCipha

Rising Star
Platinum Member
i am following you on this one, i am in texas and I am looking at the 25% penalty as a good investment opportunity. If they redeem the property, or the property itself. its really interesting because u cant get that rate from many investments whether it be 2 year or 6 months.

Heres a good question for you Cyba, what if the homeowner files bankruptcy during the redemption period, could this exclude them from paying the debt thus the investor losing their money, or does the right to imediate possession automatically award the investor the property?

I am researching this as well, i will drop any info i find out here as well. good stuff here. thanks

I'm gonna do research on this fam but if you think about it .... when somebody files for bankruptcy the only debt that they can't get out of no matter what is tax debt. If you owe the IRS and file bankruptcy you still owe the IRS. I think its the same for state and local taxes.

That is a good question fam. I'm learning and passing knowledge as I learn so I will get back to you. Oh and remember each state can be different.
 

Incarcer8dagain

Rising Star
Registered
I'm gonna do research on this fam but if you think about it .... when somebody files for bankruptcy the only debt that they can't get out of no matter what is tax debt. If you owe the IRS and file bankruptcy you still owe the IRS. I think its the same for state and local taxes.


yeah good point. didnt think about it that way.
 

CybaCipha

Rising Star
Platinum Member
yeah good point. didnt think about it that way.

Correction: I met to somebody in Bankruptcy and he says his lawyer is trying to get the property taxes in the bankruptcy so he doesn't have to repay it. He can't get the federal taxes as part of the bankruptcy though.
 

peterlongshort

Rising Star
Platinum Member
I've been buying and litigating tax liens in Baltimore for about 6 years. Let me know if you have any questions.
 

peterlongshort

Rising Star
Platinum Member
I'm gonna do research on this fam but if you think about it .... when somebody files for bankruptcy the only debt that they can't get out of no matter what is tax debt. If you owe the IRS and file bankruptcy you still owe the IRS. I think its the same for state and local taxes.

That is a good question fam. I'm learning and passing knowledge as I learn so I will get back to you. Oh and remember each state can be different.

You are correct. A municipal lien cannot be discharged in bankruptcy.
 

CybaCipha

Rising Star
Platinum Member
Formulate Your Investment Strategy
Your ultimate success, as a tax lien investor, is a function of setting honest and realistic goals with respect to the time and money you can dedicate to this incredible investment opportunity.

Generally, your strategy will fall into one of two possible strategies:

1. Investing to acquire high interest returns;
2. Investing to acquire properties for a significant discount.

As you become familiar with the investing process and procedures you can progressively move on to more challenging and profitable deals with confidence.

Select the Right State
Where do you begin? With so many states to choose from the task can seem outright daunting. Then you throw the 3000 plus counties into the mix and its downright overwhelming. Don't worry. You've already taken the time to identify your goals making it a "Snap".

Over the years I've learned that there's a little more to selecting the right state than choosing the one that offers the highest rate of return. When you join my newsletter I'll send you a report detailing each states tax lien certificate process and procedure including interest rates, redemption periods and classifications. I created this valuable resource to save you a lot of time and grief.

Select the Right County

Once you've selected the "Right State", you're ready to select the "Right County/ Counties". At the outset it can seem overwhelming, especially if you've selected a state with a lot of counties. Georgia, for example, has over 159 counties while Texas, has over 254 counties. Don't be discouraged.

Request A Current Tax Sale List
By now you should have identified your investment goals and selected the right state and county/counties to commence your investing. You are now ready to obtain a current and correct tax sale list from the county. You can do this by contacting the tax collector of the county you're interested in. Typically, you can download the tax sale list from the county website. They may charge a small shipping fee to send it to you. Warning! There are website's that make a killing selling these lists. Don't be fooled into buying something you could get free from the county.

Perform Your Due Diligence
Are you ready? Okay. Let's get started. First you should have several tax sale lists. As you review them, some may be small and others as big as the empire state building. Don't worry, the bigger they are the harder they fall.

So, maybe you're wondering "What does all this mean?" That's a good question. But before we move forward, let me emphasis the importance of performing extensive, and thorough risk reducing research. If you purchase a tax lien on raw, useless, and/or otherwise contaminated property, chances are you'll lose your shirt and a whole lot more. Honestly, what value does a useless property have? None. Furthermore, there's no incentive for the delinquent tax payer to pay off the tax lien and interest. You'll never recoup your money. The strength of your investment is based on the strength of the real estate from which the lien is generated. Crummy property equals crummy investment.

Make the Purchase

At this point you should've completed your research and selected the tax liens/tax deeds that you'd like to purchase. You should know that there are several ways of purchasing a tax lien or tax deed;
* At the physical auction.
* After the auction (left-overs).
* On the Internet.
* Through an agent/third party.

The method you choose will be a function of your goals, budget and the rules of the county you've selected. For example, lets say that you only plan on investing $1,000. It doesn't make sense, really, for you to travel a great distance to participate in the physical auction. Let's really think about it, you would eat up all of your potential profits in travel expenses. Therefore, left-overs via mail, or a live Internet auction make much more sense.

Whatever method you choose, you'll want to make sure that you have a firm understanding of the registration, auction, bidding, payment and redemption process/procedures.

Manage Your Investment
What next? After full and timely payment for the tax lien certificate has been made, all you can do is wait, wait, and wait some more. Utilize this time to your advantage. I recommend that you be familiar with the foreclosure requirements well before the expiration of the redemption period. It would be an unfortunate thing if you couldn't foreclose because you failed to follow the laws governing foreclosure.

Getting The Interest

As the owner of a tax lien certificate, you have two potential outcomes. If the delinquent tax payer steps forward and pays their tax bill within the statute mandated redemption period, they will have to pay what you paid to aquire the tax lien certificate, plus pay a penalty interest fee. Once full payment is received, you will be contacted by the taxing district and ordered to return the tax lien certificate. In return, the county will issue you a check in the amount you paid to purchase the tax lien certificate plus penalties and interest.

Getting The Property
If the delinquent tax payer neglects to pay their outstanding tax bill, and interest, within the statute mandated redemption period, as the owner of the tax lien you can foreclose the subject's right to redeem. This effectively wipes out all junior liens and claims to the subject property. At that point it becomes your property.

Typically, the county will issue a treasurer's, sheriff's or tax deed to the property. Generally speaking, it does not convey a marketable. This is because the county does not want to take on the risks associated with a warranty deed. Mainly, that the grantor (i.e. the county) will protect the grantee (i.e. the investor) against any and all claims (prior liens or interests) to the property.

To get a "marketable title" you'll want to have your lawyer initiate an action to quiet title. This is a legal process that establish your title to the real property against anyone and everyone, and consequently "quiet" any challenges or claims to the title.

Once you have foreclosed, filed a quiet title action and the court is convinced the title is yours, a quiet title judgment will be granted which can be recorded and convey a title free from defects. Then you'll want to apply for title insurance. In it's simplest form, it guarantees that the owner has title to a property and can legally transfer title to someone else. Should a problem arise, the title insurer (title company) pays any legal damages. Once you obtain title insurance you'll have a warranty deed.

Now that you are the owner of the property you can either sell it or rent it.

There you go. I've given you a brief overview of the tax sale process. You've literally nothing to lose and a world of profits to gain! I don't know about you, but for me, this is exciting stuff. I mean think about it. As a tax sale investor you'll either receive sky-high returns or real estate for just pennies on the dollar.

Source:
As soon as I find it again I will post it.
 

peterlongshort

Rising Star
Platinum Member
Formulate Your Investment Strategy
Your ultimate success, as a tax lien investor, is a function of setting honest and realistic goals with respect to the time and money you can dedicate to this incredible investment opportunity.

Generally, your strategy will fall into one of two possible strategies:

1. Investing to acquire high interest returns;
2. Investing to acquire properties for a significant discount.

As you become familiar with the investing process and procedures you can progressively move on to more challenging and profitable deals with confidence.

Select the Right State
Where do you begin? With so many states to choose from the task can seem outright daunting. Then you throw the 3000 plus counties into the mix and its downright overwhelming. Don't worry. You've already taken the time to identify your goals making it a "Snap".

Over the years I've learned that there's a little more to selecting the right state than choosing the one that offers the highest rate of return. When you join my newsletter I'll send you a report detailing each states tax lien certificate process and procedure including interest rates, redemption periods and classifications. I created this valuable resource to save you a lot of time and grief.

Select the Right County

Once you've selected the "Right State", you're ready to select the "Right County/ Counties". At the outset it can seem overwhelming, especially if you've selected a state with a lot of counties. Georgia, for example, has over 159 counties while Texas, has over 254 counties. Don't be discouraged.

Request A Current Tax Sale List
By now you should have identified your investment goals and selected the right state and county/counties to commence your investing. You are now ready to obtain a current and correct tax sale list from the county. You can do this by contacting the tax collector of the county you're interested in. Typically, you can download the tax sale list from the county website. They may charge a small shipping fee to send it to you. Warning! There are website's that make a killing selling these lists. Don't be fooled into buying something you could get free from the county.

Perform Your Due Diligence
Are you ready? Okay. Let's get started. First you should have several tax sale lists. As you review them, some may be small and others as big as the empire state building. Don't worry, the bigger they are the harder they fall.

So, maybe you're wondering "What does all this mean?" That's a good question. But before we move forward, let me emphasis the importance of performing extensive, and thorough risk reducing research. If you purchase a tax lien on raw, useless, and/or otherwise contaminated property, chances are you'll lose your shirt and a whole lot more. Honestly, what value does a useless property have? None. Furthermore, there's no incentive for the delinquent tax payer to pay off the tax lien and interest. You'll never recoup your money. The strength of your investment is based on the strength of the real estate from which the lien is generated. Crummy property equals crummy investment.

Make the Purchase

At this point you should've completed your research and selected the tax liens/tax deeds that you'd like to purchase. You should know that there are several ways of purchasing a tax lien or tax deed;
* At the physical auction.
* After the auction (left-overs).
* On the Internet.
* Through an agent/third party.

The method you choose will be a function of your goals, budget and the rules of the county you've selected. For example, lets say that you only plan on investing $1,000. It doesn't make sense, really, for you to travel a great distance to participate in the physical auction. Let's really think about it, you would eat up all of your potential profits in travel expenses. Therefore, left-overs via mail, or a live Internet auction make much more sense.

Whatever method you choose, you'll want to make sure that you have a firm understanding of the registration, auction, bidding, payment and redemption process/procedures.

Manage Your Investment
What next? After full and timely payment for the tax lien certificate has been made, all you can do is wait, wait, and wait some more. Utilize this time to your advantage. I recommend that you be familiar with the foreclosure requirements well before the expiration of the redemption period. It would be an unfortunate thing if you couldn't foreclose because you failed to follow the laws governing foreclosure.

Getting The Interest

As the owner of a tax lien certificate, you have two potential outcomes. If the delinquent tax payer steps forward and pays their tax bill within the statute mandated redemption period, they will have to pay what you paid to aquire the tax lien certificate, plus pay a penalty interest fee. Once full payment is received, you will be contacted by the taxing district and ordered to return the tax lien certificate. In return, the county will issue you a check in the amount you paid to purchase the tax lien certificate plus penalties and interest.

Getting The Property
If the delinquent tax payer neglects to pay their outstanding tax bill, and interest, within the statute mandated redemption period, as the owner of the tax lien you can foreclose the subject's right to redeem. This effectively wipes out all junior liens and claims to the subject property. At that point it becomes your property.

Typically, the county will issue a treasurer's, sheriff's or tax deed to the property. Generally speaking, it does not convey a marketable. This is because the county does not want to take on the risks associated with a warranty deed. Mainly, that the grantor (i.e. the county) will protect the grantee (i.e. the investor) against any and all claims (prior liens or interests) to the property.

To get a "marketable title" you'll want to have your lawyer initiate an action to quiet title. This is a legal process that establish your title to the real property against anyone and everyone, and consequently "quiet" any challenges or claims to the title.

Once you have foreclosed, filed a quiet title action and the court is convinced the title is yours, a quiet title judgment will be granted which can be recorded and convey a title free from defects. Then you'll want to apply for title insurance. In it's simplest form, it guarantees that the owner has title to a property and can legally transfer title to someone else. Should a problem arise, the title insurer (title company) pays any legal damages. Once you obtain title insurance you'll have a warranty deed.

Now that you are the owner of the property you can either sell it or rent it.

There you go. I've given you a brief overview of the tax sale process. You've literally nothing to lose and a world of profits to gain! I don't know about you, but for me, this is exciting stuff. I mean think about it. As a tax sale investor you'll either receive sky-high returns or real estate for just pennies on the dollar.

Source:
As soon as I find it again I will post it.




1. Most counties are moving to an online auction with updates to the tax sale list about every month or so in the 1st quarter of the year. You can ask for a paper list from the county clerk but it's gonna be about as accurate (and helpful) as yesterday's stock quotes. If you really want to get the updated list from all over the country check out www.grantstreet.com.

2. Most Tax Sales occur just before the 2nd quarter annually. Outside of that time period there is really nothing to be done as far as buying liens.

3. There are other ways to make money besides interest and foreclosure. You can make money doing the title searches, selling the property back to the city, and other little side deals.
 

kjxxxx

Star
Registered
how does folks with jobs do this? I am thinking a bunch of folks here work and can't go to auctions. I am thinking some partnerships can be formed here cause unless you unlimited source of capital. You can only buy so much so if there are folks here who are finding deals then you can partner with folks and split profit or get paid a commission on something.
 

CybaCipha

Rising Star
Platinum Member
how does folks with jobs do this? I am thinking a bunch of folks here work and can't go to auctions. I am thinking some partnerships can be formed here cause unless you unlimited source of capital. You can only buy so much so if there are folks here who are finding deals then you can partner with folks and split profit or get paid a commission on something.
BINGO
You hit the nail on the head. I used to take a day off and go to the courthouse to research, etc when I had a regular 9 - 5. When I was doing shift work, it was all good cause I would get out of work at 7 am hit a diner for bkfast then hit the courthouse, do research, hit the auction etc.

Partnerships are the way to go if you can find somebody you can trust but we as a ppl are full of shit and have a history of not trusting. Break the cycle.
 

mailboxpimp

Rising Star
BGOL Patreon Investor
been waiting for this to show up on bgol. Ive heard so much about this on the economic empowerment radio network / blackanomics
 

TIMEISMONEY

Rising Star
BGOL Investor
I'm actually starting to get into this as we speak. Just deposited some money in my account to start bidding on some homes
 
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