I paid the tax lien on a property a few weeks ago. For $762 I got an acre of land and a trailer with a permanent structure built on. It’s been abandoned for a while. I can’t yet go inside so I’m not sure if it can be salvaged, but outside actually looks good with very minimal rot. Of course there is a 3 year right of redemption so I can’t rally do anything to the property until then but still a good investment.
Some old family friends have done very well acquiring properties via purchase of tax lien certificates, but I’ve never paid attention and probably should have. So, if the individual currently holding title pays you for the lien plus interest within the three years, all you get is the interest, correct? If not, then what, you have to foreclose?