Tax certificates and attorney fees


#1

Hello all,

it’s been awhile since I’ve been on this site, was a member in L.A. and now live in Iowa, here is my question.

Here in Iowa if you pay the back property taxes you receive a tax certificate and 2% a month return until the property is redeemed, if the real estate is not redeemed in 19 months you have to hire an attorney and start to foreclose on the property, lots out here go for 1-3k and usually once the process starts the property gets redeemed and you make maybe $30 with a big attorney bill, a big lost of $$$$$

So how do I learn to do my own foreclosures?

with best regards,

Larry


#2

You buy tax liens in Iowa for the return, not to get the property. You don’t want that property! Pick properties you know will get redeemed, so you get a safe, 24% a year.


#3

You buy tax liens in Iowa for the return, not to get the property. You don’t want that property! Pick properties you know will get redeemed, so you get a safe, 24% a year.

WELL SAID, Bill. I have been preaching this for the last 20 plus years and it is almost like preaching to the choir.

People tend to believe the late night TV Gurus and WILL NOT face reality.

THANKS FOR POSTING.