It has started!

[Inor]

The financial pain related to the recession that we have all been waiting for has finally started to come in this area! WOO HOO!!!

Our county had an auction today for land that is behind on taxes. Mrs Inor and I won a parcel that is directly across the road from M.T. Acres! Technically the land is not ours yet. We have to pay 3 more years of taxes on it, then we can have the title transferred. If the current owner can come up with the money to pay the tax and penalties, they will get to keep it but Mrs Inor and I will still earn 16% interest per year on the taxes we have paid.

The way the economy is looking right now, I am thinking this is just the first of many great deals to be had over the next couple years if you have a few dollars put aside.

I cannot remember the name of the really smart guy that said it, but the quote: "Chance favors the prepared mind" seems appropriate.

[Slippy]

Excellent, way to go Inors!

I think the current level of craziness will yield some good stuff. Happy for y'all!

The financial pain related to the recession that we have all been waiting for has finally started to come in this area! WOO HOO!!!

Our county had an auction today for land that is behind on taxes. Mrs Inor and I won a parcel that is directly across the road from M.T. Acres! Technically the land is not ours yet. We have to pay 3 more years of taxes on it, then we can have the title transferred. If the current owner can come up with the money to pay the tax and penalties, they will get to keep it but Mrs Inor and I will still earn 16% interest per year on the taxes we have paid.

The way the economy is looking right now, I am thinking this is just the first of many great deals to be had over the next couple years if you have a few dollars put aside.

I cannot remember the name of the really smart guy that said it, but the quote: "Chance favors the prepared mind" seems appropriate.

[StratBastard]

The financial pain related to the recession that we have all been waiting for has finally started to come in this area! WOO HOO!!!

Our county had an auction today for land that is behind on taxes. Mrs Inor and I won a parcel that is directly across the road from M.T. Acres! Technically the land is not ours yet. We have to pay 3 more years of taxes on it, then we can have the title transferred. If the current owner can come up with the money to pay the tax and penalties, they will get to keep it but Mrs Inor and I will still earn 16% interest per year on the taxes we have paid.

The way the economy is looking right now, I am thinking this is just the first of many great deals to be had over the next couple years if you have a few dollars put aside.

I cannot remember the name of the really smart guy that said it, but the quote: "Chance favors the prepared mind" seems appropriate.

16% is crazy good! I'm guessing there is no mortgage owed by the tax beleaguered owner? A lender would require the taxes to be kept current. Make your paper in the meantime, and here's hoping you get to expand your empire soon.

[Inor]

16% is crazy good! I'm guessing there is no mortgage owed by the tax beleaguered owner? A lender would require the taxes to be kept current. Make your paper in the meantime, and here's hoping you get to expand your empire soon.

I doubt there is any kind of loan against it. It is just empty desert. Honestly, I do not even care if it has a clean title. The whole reason I wanted it is to prevent anybody else from buying it and building a house or a snowbird from parking an RV on it.

As an aside, this is where I found it: https://www.govease.com/. They do tax auctions all over the country and in most cases, you do not even need to be a local resident. If you want to do it as an investment, check the rules for each county carefully, but you can make some pretty good money buying tax repos and either collecting the interest on back taxes (using the county as your collection agency) or transferring the title and reselling the land.

[BucketBack]

I almost got Grimeys place on back taxes 3 weeks ago,$2200 in back taxes for this dump that he had to come up with.

That tells ya about what it's worth....................

[Prepared One]

The whole reason I wanted it is to prevent anybody else from buying it and building a house or a snowbird from parking an RV on it.

Well shit! I was going to fix it up and maybe add a room or two.

[Dwight55]

Well shit! I was going to fix it up and maybe add a room or two.

Paint touch up . . . new TV antenna and bit of weed eating around the place . . . could double it's worth.

Find out and lemme know the asking price . . .

May God bless,
Dwight

[Ricekila]

Well shit! I was going to fix it up and maybe add a room or two.

Not for sale !

[shootbrownelk]

"Chance favors the prepared mind"....I heard that quote used in the Steven Segal movie, Under siege 2.

[Sparkyprep]

I've got the cash, just waiting on the right opportunity.