Kosciusko County, Indiana represents a fantastic
opportunity for the budding investor to buy tax lien certificates. The State of
Indiana offers an initial 10% interest rate of return for those who win tax
liens (formally tax lien certificates) at Kosciusko County’s annual auction. If
the certificate is redeemed within the first 6 months after the auction, the
investor will receive 110% of what they paid, representing a flat 10% interest
rate. That, alone, isn’t a bad rate of return – but it gets better! If the
certificate is redeemed in the second 6 months after the auction, then the
buyer will receive 115% of what they paid, meaning a return of 15%!
Apart from that, for any home lien (formally tax lien
certificate) that is purchased above the minimum starting bid, the purchaser
shall receive an additional refund in the amount paid above the minimum bid,
plus an additional 10% interest per year on the price difference between the
amount paid and the minimum bid.
Lastly, the redemption period on tax lien homes
(formally tax lien certificates) is only 1 year. So, if after 1 year the
property owner fails to pay the taxes, an investor can foreclose on the
property and own it themselves. What this basically means is that, it is quite
possible to end up owning incredibly valuable parcels of land for the price of
the delinquent taxes owed by the owner.
Tax lien certificate auctions take place in Kosciusko
County, Indiana in the fall. In 2013, the auction took place in October, though
that is not always the case. The best thing to do is to contact the county
office and ask if the next auction has been scheduled or not. Regardless of
whether they say yes or no, you can also get a list of the properties that are
up for auction. Once you have it, you can visit the properties that you’re
interested in bidding on and make your decisions from there.
Government tax lien investing is predictable and
certain. With proper instruction, it’s made thousands of people wealthy. Would
you like to know the truth about this 100 year old process? Go to: http://www.tedthomas.com/truth-about-tax-lien-certificates/
No comments:
Post a Comment