HWZ Forums

Login Register FAQ Mark Forums Read

Tax Lien & Tax Deed Distressed Properties in USA

Like Tree1Likes
  • 1 Post By BBCWatcher
Reply
 
LinkBack Thread Tools
Old 13-10-2018, 06:26 PM   #1
Moderator
 
archcherub's Avatar
 
Join Date: Oct 2001
Posts: 3,915
Tax Lien & Tax Deed Distressed Properties in USA

A few years ago, went through some seminar previews about distressed properties in USA.
Didnít pay as though I can learn more online and study it before doing anything.
Beside properties half a world away in Singapore gonna need outsource the maintainence and sales to unknown people.

Tax lien are certificates for investors to pay overdue property tax duties and to collect back when original owner pay, or property sold.

Tax deeds are properties already overdue for too Long, and auction off to pay off tax liens and other overdue payments.
i googled and found a good article to read

https://fitsmallbusiness.com/tax-lien-and-tax-deed-investing/

Anyone here already doing tax lien or tax deed auctions? Just curious
archcherub is offline   Reply With Quote
Old 14-10-2018, 01:19 AM   #2
Supremacy Member
 
Join Date: Dec 2009
Posts: 7,629
I don't think this is a particularly good idea.

Distressed property investing over this side of the pond was a thing for a couple of years, from about 2008 to 2011. After that point, big players like Blackstone got involved and started buying everything up. By now the distressed property space is super competitive and there's not a lot of edge left in it unless you can operate at massive scale... and frankly there's not a lot of "distressed" properties left anyway.
Shiny Things is offline   Reply With Quote
Old 14-10-2018, 05:55 PM   #3
Moderator
 
archcherub's Avatar
 
Join Date: Oct 2001
Posts: 3,915
I don't think this is a particularly good idea.

Distressed property investing over this side of the pond was a thing for a couple of years, from about 2008 to 2011. After that point, big players like Blackstone got involved and started buying everything up. By now the distressed property space is super competitive and there's not a lot of edge left in it unless you can operate at massive scale... and frankly there's not a lot of "distressed" properties left anyway.
Aww icic. Thanks for sharing. If Iím not wrong u are living in United States now, so you probably have the better understanding
archcherub is offline   Reply With Quote
Old 14-10-2018, 08:50 PM   #4
Supremacy Member
 
Join Date: Jun 2010
Posts: 6,275
I agree with Shiny Things. If you have a right of abode in the United States, and if you want to buy a home to live in, then sometimes you can do pretty well buying a home at a foreclosure auction. (Foreclosures can be for tax, mortgage, or criminal reasons.) Otherwise, I wouldn't bother.

As another example, there are a few towns (communes) in Italy where you can buy tax distressed homes for 1 euro. Most of those towns tend to be in the economically challenged Mezzogiorno (southern Italy). There aren't too many catches, but the big catch is that you're responsible for rehabilitating the home within a certain deadline. You might get lucky and be able to do that for 20,000 euro, but usually it'll cost more, a lot more. Of course you also must pay ordinary taxes (but not back taxes), otherwise the home can go right back into the 1 euro pipeline. If you're looking for a place to live in Italy, and if you're quite familiar with the particular commune and how to remodel homes in Italy, you can end up with a good deal for your own housing needs. Italy has a decent Elective Residence visa program for foreign retirees of any age who possess decent or better wealth/annuity income, and the food is pretty darn wonderful, so there you go. Retire in Italy as an Elective Resident, rent for a couple years, scout out the 1 euro bargains, and then be prepared to cope with your new money pit.
archcherub likes this.

Last edited by BBCWatcher; 14-10-2018 at 08:52 PM..
BBCWatcher is offline   Reply With Quote
Old 29-10-2018, 06:20 PM   #5
Moderator
 
archcherub's Avatar
 
Join Date: Oct 2001
Posts: 3,915
I agree with Shiny Things. If you have a right of abode in the United States, and if you want to buy a home to live in, then sometimes you can do pretty well buying a home at a foreclosure auction. (Foreclosures can be for tax, mortgage, or criminal reasons.) Otherwise, I wouldn't bother.

As another example, there are a few towns (communes) in Italy where you can buy tax distressed homes for 1 euro. Most of those towns tend to be in the economically challenged Mezzogiorno (southern Italy). There aren't too many catches, but the big catch is that you're responsible for rehabilitating the home within a certain deadline. You might get lucky and be able to do that for 20,000 euro, but usually it'll cost more, a lot more. Of course you also must pay ordinary taxes (but not back taxes), otherwise the home can go right back into the 1 euro pipeline. If you're looking for a place to live in Italy, and if you're quite familiar with the particular commune and how to remodel homes in Italy, you can end up with a good deal for your own housing needs. Italy has a decent Elective Residence visa program for foreign retirees of any age who possess decent or better wealth/annuity income, and the food is pretty darn wonderful, so there you go. Retire in Italy as an Elective Resident, rent for a couple years, scout out the 1 euro bargains, and then be prepared to cope with your new money pit.
wow. u know, as i grow older, i really feel like a frog in a wall. lol
and i am someone who already travelled quite a lot for work.

thanks for the sharing! i am googling and frankly there are a lot of good articles on this tax lien stuff too... much like what u guys have shared. profitable, but not as profitable as the course sellers portrayed.
__________________
your character shows not what you show to others, but what you do when no one is watching. Be civil and polite online....
archcherub is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On