On this video we will be talking about what is a tax lien and how you can make a lot of money investing in them.
Now according to Wikipedia
A tax lien is a lien imposed by law upon a property to secure the payment of taxes. A tax lien may be imposed for delinquent taxes owed on real property or personal property, or as a result of failure to pay income taxes or other taxes.
In the United States, a tax lien may be placed on a house or any other real property on which property tax is due (such as an empty tract of land, a boat dock, or even a parking place).
Each county has varying rules and regulations regarding what tax is due, and when it is due. The related forms may be tax lien certificates or tax deed certificates.
Tax lien investing
Tax liens and tax deeds can be purchased by an individual investor.
In the case of tax liens, interest can be earned. If the property is redeemed then the investor would recover invested money, plus interest due after the lien was purchased. If the property is not redeemed, the deed holder or lien holder has first position to own the property after any other taxes or fees are due.
Tax lien certificates
Tax lien certificates are issued immediately upon the failure of the property owner to pay. These forms describe a lien on the property. The liens are generally in first position over every other encumbrance on the property, including liens secured by loans against the property.
Tax lien states are:
Alabama, Arizona, Arkansas Colorado, Florida, Illinois, Indiana, Iowa, Kentucky, Maryland, Mississippi, Missouri, Montana, Nebraska, New Jersey, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Vermont, West Virginia, and Wyoming. The District of Columbia is also a tax lien jurisdiction.
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