Zack Childress review – Tax lien investing is one of the easiest roads to riches in the world of real estate. Being the pursuit of seasoned investors, it offers bountiful returns; however, there are chances for you to get burned easily, if you are not doing your research. This piece of writing will walk you through the risk factors involved in tax lien investing and how to avoid them. This in turn will help you make a safe and sound investment.
Such a property doesn’t exist: In general, tax lien properties are available for sale at scheduled tax auctions, whereas, this is not the case with some counties. Depending on the county, the sale happens directly, or over the counter, or at the county courthouse. Not taking into consideration, the sale method, there is a publicly accessible list of real estate properties that shows available liens for sale. Though uncommon, that list can have certain inaccuracies, but experts say that it is to no purpose of, for the list to have an address that doesn’t even exist. In order to avoid this potential risk, it is always a must to physically visit and inspect the property.
Damaged/ useless property: Savvy investors always have a look at the list of properties that have tax liens for sale, look out for the contents and the general description the list shows, and have a keen look at the improvements that have been made along with the assessed value. Highly helpful for investors in determining and understanding the property’s state of affairs, but to take a decision based only on that is something unadvisable and the sad thing is that sometimes even the well-informed investors go for it. Sometimes the description might miss out major repairs and changes that the property is in need of. For instance, if a wildfire recently destroyed all buildings on the property that may not be updated on the description list; in order to overcome this issue, again you should visit the property in person and look out for such damages if any. There exist quite a few properties that are ineffective, for e.g. a strip of grass that is 10 feet wide, and 400 feet long that is more or less one acre in size seems to be a lucrative investment, but what if local building codes or zoning ordinances require a 30-foot easement on all sides? In this case, the land could not have anything built on it, which makes the property useless. Again personally inspecting the property is the best way to stay away from this potential problem.
Hope you found this article helpful, for more eye-opening real estate investing articles stay tuned to Zack Childress blogs. Zack Childress is a real estate entrepreneur who has helped thousands of real estate enthusiasts by teaching real estate principles, markets, and finance. His boot camps and seminars are a blessing to people who wanted to make it big in the field of real estate. Sign up for Zack Childress real estate reviews to stay up to date on real estate concepts and make secure investments with the guidance of this connoisseur who will guide you every step of the way.