There are tax lien states, tax deed states, and mixed states. 🇺🇸 #realestateinvestor #tax

So tax deeds and liens 🏡📄 are what got me interested in investing in real estate back in 2020. Here's how they work:
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There are tax lien states, tax deed states, and mixed states. 🇺🇸
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When property taxes go unpaid for a certain amount of time ⏰ (time frame depends on the state) the land or home will go up for auction, & either a lien will be sold and placed or the deed will be sold to the highest bidder.💰
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Tax liens are the ability to cloud 🌧️ the title, so to get your lien off the property the owner will have to pay you off whatever you paid for the lien plus the states interest rate (usually 12-18% each year) 💰💰 if they don't pay their taxes eventually you can have the chance to apply for the deed.
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With tax deeds 📄 it's the same but you actually get the deed to the property 🏡 and the owner will have a time frame to redeem that deed (it's called a redemption period)
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Anyone can attend these auctions, 🧑🏻‍⚖️ you just need to signup in time & put down the required deposit. 💵Nowadays a lot of these auctions are held online so you can do it virtually! 💻
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The reality of tax lien 📄 and deed investing is that most do get redeemed by the owner. But there's many undesired or forgotten parcels that do transfer permanently to the lien/deed holder. 📄🏡
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If you want to win these properties, It's all about consistently attending these 🧑🏻‍⚖️ auctions, being strategic about what your bidding on and how much (the lists go up in advance so you can study the properties & owners!), and not wasting time bidding on hot properties 🏡institutional buyers will be buying in bulk (applies to certain hot appreciating areas)🔥
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Even though I got a lien on 2 acres of land in Cape Coral, FL 🌴 with this method, I found it a lot easier and quicker to build a business virtually wholesaling properties 💻 and flipping purchase contracts 📄 from the comfort of home VS spending that time bidding on houses 🏘️ I might not get to keep 🤷🏽‍♀️
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#realestateinvesting #realestateinvestor #wholesalinghouses #entrepreneur #realestategoals #realestate #taxes