Re: Tax lien certs in FL. ?? - Posted by Rob FL
Posted by Rob FL on March 19, 2000 at 20:56:34:
I have bought them in the past. I still own a few. The maximum rate is 18% simple interest. Not too shabby.
You must wait 2 years before you foreclose on the property. In my observation, only a small percentage ever get foreclosed. The owner almost always redeems when threatened with foreclosure.
Where I live in Orlando, there are always 500 or so bidders at the tax certificate auctions. It is totally impossible to get a tax certificate on a specific property unless you bid the certificate down to a low interest rate. If specific properties are your game, go out into the outlying counties and bid there.