While there are books written on this form of investing, many people are unaware of this route. But it’s a great way to invest semi-passively. It’s a win win. 18% if they pay, the property if they don’t.
I promised a thread on tax liens. Here it is.
When a property owner doesn’t pay taxes, the municipality creates a lien on the property. But since the municipality needs to fund their budget they sell off these liens to private investors.
The nice part about tax liens is that they are generally superior to any other lien on the property. Furthermore tax lien foreclosure is strict foreclosure. That means if you foreclose, there is no auction. You simply get title to the property.
You may recall me as @marcsgilbert. Twitter suspended that account for no apparent reason. So I am going to tweet from here presuming nobody will every get around to resolving that. Come for the real estate, stay for the bad jokes.
I’ve done many deals with funky structures and I’ve closed in weird places. Tonight’s deal is a straight swap of property closing at a rooftop bar in NYC.