Prince George's County 2020 Tax Sale June 22!!! Online only!!

peterlongshort

Rising Star
Platinum Member
Just missed it. I’m in DC and I see their tax sale is on hold due to COVID. You ever have any luck with these?
PG notoriously bad for actually getting the homes. Their redemption period is dam near 2 years, but it’s worth it. Baltimore City the best. Redemption period is 6 months. DC is the worst. Your are competing with Bank Of America/Wells Fargo/etc. they will outbid you a $1000 tax lien by $60k. And not give a fuck. Maryland has new rules in place that discourage overbidding. DC no fucks given.
 

peterlongshort

Rising Star
Platinum Member
Hey fellas.... How can I get a hold of DC Foreclosure list or calendar?
Thanks in advance
Google DC tax sale. They used to have the list up but the covid be hating. I never got a spot from DC. The sales were weird as fuck though. "Embassy of Iran owes $1 million dollars in taxes"........I'm good on that one. Give me the little old lady off Benning for $5k, thanks.
 

guyver

Rising Star
BGOL Investor
So what is the end goal? Are you buying the taxes to earn interest or are you attempting to get a home for cheap?

I've heard this mentioned before but I don't fully understand the purpose or potential ROI
 

peterlongshort

Rising Star
Platinum Member
So what is the end goal? Are you buying the taxes to earn interest or are you attempting to get a home for cheap?

I've heard this mentioned before but I don't fully understand the purpose or potential ROI
If a homeowner owes the city any money i.e., property taxes, water bills, fines, etc., the city will sell that bill (the lien) to the public at auction and the lienholder has a right to the property free and clear. Baltimore is a perfect example. Say a lil ol lady finally pays her house off after 50 years of living there. The property taxes are about $300 a year. She dies. She doesn't pay the property taxes. The city doesn't care if she's dead, they want they $300. They put it up for auction in the tax sale. Whomever gives them the $300 has a right to the property (and the right to pay taxes).

You could end up with a $100k property for just over $300 and some change. And it's risk free because if you bid on it and win, and somehow the lil ol lady comes back to life to get her house back, she has to pay you back your money.
 

guyver

Rising Star
BGOL Investor
If a homeowner owes the city any money i.e., property taxes, water bills, fines, etc., the city will sell that bill (the lien) to the public at auction and the lienholder has a right to the property free and clear. Baltimore is a perfect example. Say a lil ol lady finally pays her house off after 50 years of living there. The property taxes are about $300 a year. She dies. She doesn't pay the property taxes. The city doesn't care if she's dead, they want they $300. They put it up for auction in the tax sale. Whomever gives them the $300 has a right to the property (and the right to pay taxes).

You could end up with a $100k property for just over $300 and some change. And it's risk free because if you bid on it and win, and somehow the lil ol lady comes back to life to get her house back, she has to pay you back your money.
Thanks. No need to go into actual ROI but has anyone here been consistently successful with doing this and what was the average cost.

In my mind and like you already mentioned I'd think youd be competing against banks or other financial institutions.

I'm going to have some money freed up in 2021 and I'm looking for low risk/long term opportunities . So far, the only risk I could foresee is you buying 30000 for something that isn't (maybe short term) worth 10000. I've seen places in Baltimore that are basically shells, but if you believe the area will be improved over the next few years it may not be a bad idea.
 

peterlongshort

Rising Star
Platinum Member
Thanks. No need to go into actual ROI but has anyone here been consistently successful with doing this and what was the average cost.

In my mind and like you already mentioned I'd think youd be competing against banks or other financial institutions.

I'm going to have some money freed up in 2021 and I'm looking for low risk/long term opportunities . So far, the only risk I could foresee is you buying 30000 for something that isn't (maybe short term) worth 10000. I've seen places in Baltimore that are basically shells, but if you believe the area will be improved over the next few years it may not be a bad idea.
You know where Heritage Crossing is on the westside? Right there at the end or Argyle Ave. IT's all pretty and spiffy now, but back in the day (10-12 years ago) that shit was all vacants. Damn near all them shits was in the Tax Sale for anywhere from $100 to $500. Word got out that a developer was looking to redo some of West Baltimore. The only way they could do it was through eminent domain. Cats knew the were coming over there, it was just a matter of time. So folk started buying up anything and everything on Argyle/Dolphin/Wilson Street for $100. I shit you not, a year later Baltimore declared eminent domain over those properties so that they could sell them to the developer. Now, the trick with ED is that the government has to pay the property owner the fair market value of the home.....GUESS WHO THE PROPERTY OWNER IS NOW!!!!:money:

FMV might have been anywhere from$10 -$50k and they fucked themselves the previous year because they jacked up the home assements to get more taxes out of you!!!:roflmao:

Man those were the days....I never felt so white in my life...
 

CybaCipha

Rising Star
Platinum Member
There is a CybaCipha tax lein course in the business section with some basics for those who are interested.
 

Baron Brexlee

wannabe star
Registered
PG notoriously bad for actually getting the homes. Their redemption period is dam near 2 years, but it’s worth it. Baltimore City the best. Redemption period is 6 months. DC is the worst. Your are competing with Bank Of America/Wells Fargo/etc. they will outbid you a $1000 tax lien by $60k. And not give a fuck. Maryland has new rules in place that discourage overbidding. DC no fucks given.
thanks for the insight. I may end up buying in PG instead. I’m looking for a rental property around DC. I own my home in DC now and this market is pretty much sewed up here if you’re trying to buy and flip or rent. Baltimore seems like it has a lot of opportunity but I don’t want to run back in forth dealing with the tenants and making repairs.
 

peterlongshort

Rising Star
Platinum Member
thanks for the insight. I may end up buying in PG instead. I’m looking for a rental property around DC. I own my home in DC now and this market is pretty much sewed up here if you’re trying to buy and flip or rent. Baltimore seems like it has a lot of opportunity but I don’t want to run back in forth dealing with the tenants and making repairs.
If you are gonna do PG download the tax sale list in an excel file. Sort by zip code. You want to look at 20745, 20748, 20757. That gets you all of the undervalued properties near National harbor/MGM. No need to peruse through all the Bowie/Upper Marlboro listings. The Harbor is where the value is right now. I agree with you on Baltimore, shit is just too far from DC to run back and forth. Lots of ramblers and ranch homes in Temple Hills/Oxon Hill you can get on the cheap.
 

Baron Brexlee

wannabe star
Registered
If you are gonna do PG download the tax sale list in an excel file. Sort by zip code. You want to look at 20745, 20748, 20757. That gets you all of the undervalued properties near National harbor/MGM. No need to peruse through all the Bowie/Upper Marlboro listings. The Harbor is where the value is right now. I agree with you on Baltimore, shit is just too far from DC to run back and forth. Lots of ramblers and ranch homes in Temple Hills/Oxon Hill you can get on the cheap.
.

Thanks for the game man. Imma keep stacking and set a reminder for the tax sale next Spring.
 
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