Here is my piece of advice for today for those of you who live in tax certificate states and purchase tax certificates as a source of income. We have used this strategy for many years.
However…..a piece of advice. Every six months or so review your outstanding tax certificates to make sure a sale on the property has not taken place. I have had probably four instances over the last few years where a sale of the property took place and the tax certificates were not paid back to us.
This is especially true for some reason if you are buying them in more rural areas. We only got paid off on these certificates because we raised a fuss about it. A couple of them with the interest were in the hundreds of dollars. I found another one today where a sale of a property took place and we didn’t get paid off.
That’s why I am writing this post today. It shouldn’t make you stop investing in tax certificates, I love them as another way to increase income AND possibly get a property (it’s happened more than once) Just exercise due diligence like you do in every other part of your real estate investing business.
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