OfflineHello DG Family!
I had just learned about a huge Tax Lien auction that just recently took place today here in San Diego, Ca. Apparently there was over $500,000.00 in total sales with 53 homes being purchased. Just imagine getting a few of those homes to turn around for Assignment on Contract or perhaps for holding!
Anyway, I thought everyone should know. By the way, they also annouced just now that an additional 60 homes will follow suit in the next 60-120 days. WOW that is really hot news!
Well if your interested, check it out here in San Diego website.
You know for sure I will be there buying a few!
Well that's it for now DG Family...until next time!
Tom
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I don't think you're allowed to assign these types of properties. You will have to buy them outright. California counties only allow final sales at tax auctions.
Well either way...it is still a good deal if you can purchase them...what ever happened to thinking positive?
Tom
Actually in California you are not buying the lien, you are buying the property. Which means that you take possession of the property immediately. The good thing about the tax auctions, as opposed to private bank foreclosure auctions, is that once you win the bid it's yours. They can not later say it did not receive the minimum reserve amount.
Just becareful not to get into the frenzy and bid too much.
SoCalREI,
Thanks for the tip and yes I am aware of the purchasing the property. As far as bidding to high, I know my budget and what it will allow so I probably won't be purchasing every many but only those that are within my budget. You know even by purchasing these properties out right for ownership would still generate either a positive cash flow or resale for a little profit. If we are suppose to be encouraging one another, why doesn't even one think this is a good deal? Are we suppose to look at the larger picture and say that these properties could generate income or be sold back into the market place for a little profit? I mean what is the whole point of sharing this information if everyone is willing to shoot it down and not look for the ultimate outcome?
Anyway, like Dean says, as well as many others, you must block out the negative side and concentrate on your goals!
Tom
Wow shivers, a bit defensive aren"t you? They were just giving you some good advice.
I know they where, but here lately it seemed that everyone I know is giving negative feed into this venture and I'm not just talking about T ax Liens, I mena the whole real estate investing. Since I am already bombarded with my family and frineds being negative it seem at the time when I read the treads that no one support this idea too, which I started to feel that everyone was against me even the DG family here. Anyway, I don't know what to believe any more, but if I did come across as being defensive I apologize to those who where trying to help me.
Tom
Hey Tom I told my wife she needed to be more positive she and few family members are also negitive tell you what you do... Do it without telling anyone what your doing! Once you start making money with your tax properties YOU WILL SEE!! Trust me > Because those people are so use to being negitive it is part of there life now!!! Hope I help you a little! Darrellf334