Tax Lien Investing: From the Field

                                                                                         

In April I went to a tax sale in New Jersey. Here’s what I noticed at this tax sale. There were more properties available than last year, but there were also more bidders. A couple of institutional buyers showed up who don’t normally come to this particular tax sale. At least they weren’t there in 2007 and 2008. And there were also a couple of new companies that I haven’t seen before, after talking to them I learned that one of these companies just started earlier this year and the other is into tax lien investing again after being away from it for a few years. There were also a couple of new investors just checking on what this tax lien investing thing is all about as well as the usual crowd.

Most of the “good” properties – by good, I mean safe properties, properties that you know are going to redeem and have a decent looking structure on them, went at premium, except for one that went for 1%. There were a few parcels of vacant land and one trailer that went from 17% to 18% and there were a few pieces of undesirable vacant land that went to the township. There was one very large lien (over $60,000) that originally was struck off to the township, but one of the investors got it at 18% after the tax sale. It was a corner lot with some old barns on it.

I went to this sale in order to pay the subsequent taxes on two of my liens to keep them out of the tax sale, and to see if I could pick up another lien. I was able to get a lien on a nice building lot for 18%. The lien was for around $2600. I also have two other liens on properties in this same development (it’s really just a cul-de-sac). The builder has come on hard times and has stopped building and stopped paying the taxes. He’s been trying to sell the building lots, but they aren’t moving in this slow economy. Maybe I’ll actually be able to foreclose on these lots!

About the author:
Joanne Musa is a tax lien investing consultant who helps investors from all over the world to develop a profitable tax lien or tax deed portfolio. Joanne provides detailed information on how to start building your own profitable portfolio of tax lien certificates or tax deeds and video and audio training on the Members Area of TaxLienLady.com. Get a free 30-day trial to the Members Area of TaxLienLady.com at http://budurl.com/30daytrial.

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