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People in Shreveport / Bossier don't like paying their property taxes apparently
Posted on 7/17/20 at 10:46 am
Posted on 7/17/20 at 10:46 am
3019 adjudicated properties that will be up for sale soon and 937 that are currently behind where the taxes can be paid by someone for the next 3 years and they are then able to obtain possession of the property.
For those unsure what an adjudicated property is:
For those unsure what an adjudicated property is:
quote:
By definition, adjudicated property is property that has been placed in state or local governmental hands because local property taxes have not been paid and sequentially have not been redeemed by the debtor.
13
Posted on 7/17/20 at 10:47 am to stout
Tax sales are the worst when running title on a property. 
Posted on 7/17/20 at 10:47 am to stout
This is trumps America. People are literally homeless now
Posted on 7/17/20 at 10:48 am to TH03
Baton Rouge for comparison has 1490 total with 1485 adjudicated
This post was edited on 7/17/20 at 10:51 am
Posted on 7/17/20 at 10:50 am to TH03
quote:
Tax sales are the worst when running title on a property.
I would never do the actual tax sale and wait 3 years for one. It's not bad though because you can get 12% return per year if they do pay you back.
I will however bid on properties at an adjudicated auction.
Posted on 7/17/20 at 10:51 am to stout
Can I look this stuff up or is it behind a paywall like mls?
Slumlord time
Slumlord time
Posted on 7/17/20 at 10:51 am to stout
quote:
you can get 12% return per year if they do pay you back.
Yep, it's a win/win for the buyer.
Posted on 7/17/20 at 10:52 am to stout
damn, can be decent investment vehicles.
trying to get title insurance after successfully quieting the title and obtaining possession isnt exactly easy, however
trying to get title insurance after successfully quieting the title and obtaining possession isnt exactly easy, however
Posted on 7/17/20 at 10:53 am to stout
Somebody about to get paid
Posted on 7/17/20 at 10:53 am to el Gaucho
Anyone can look up tax auctions and adjudicated sales
Posted on 7/17/20 at 10:54 am to stout
quote:
you can get 12% return per year if they do pay you back.
yup. 17% the first year
Posted on 7/17/20 at 10:55 am to stout
Got any advice on buying the tax properties? 12% return or ownership of the property doesn't sound like a bad return.
Posted on 7/17/20 at 10:55 am to rocket31
quote:
trying to get title insurance after successfully quieting the title and obtaining possession isnt exactly easy, however
The adjudicated sales usually are much like a repo auction and come with clean titles. They also include owners title insurance
This post was edited on 7/17/20 at 10:56 am
Posted on 7/17/20 at 10:57 am to burgeman
quote:
Got any advice on buying the tax properties? 12% return or ownership of the property doesn't sound like a bad return.
It would depend on what your strategy is. Do you want to own the property one day potentially or just invest in hopes of getting paid back with interest?
Posted on 7/17/20 at 11:00 am to stout
quote:
It would depend on what your strategy is. Do you want to own the property one day potentially or just invest in hopes of getting paid back with interest
I guess the sweet spot is liking the property but ok if you lose it and get a hefty return.
Are the values on the properties typically market?
Posted on 7/17/20 at 11:00 am to stout
gotcha, yea, ive done tax sales.
one example: waited the 3-4 years for the redemptive period to end, then sued to quiet the title which was successful, and now im at the stage where getting actual title insurance is an issue, even though the property is officially mine
one example: waited the 3-4 years for the redemptive period to end, then sued to quiet the title which was successful, and now im at the stage where getting actual title insurance is an issue, even though the property is officially mine
Posted on 7/17/20 at 11:05 am to Turbeauxdog
quote:
Are the values on the properties typically market?
Why wouldn't they be? It's still property.
However, most are going to be in undesirable areas, or landlocked, and there are also a lot that are slivers of land left over after a subdivision was formed.
In Shreveport, I noticed two little pieces between some nice houses on the golf course. I should buy it then force the neighbors to buy it from me by knocking down their fences.
The sweet spot is finding an inherited property where someone lives out of state and forgot about paying the taxes on the land left to them.
Posted on 7/17/20 at 11:08 am to stout
Can we get a link to those maps?
Posted on 7/17/20 at 11:12 am to stout
got a link? I might be interested in snapping up some of that North Bossier / Benton property
Posted on 7/17/20 at 11:16 am to stout
Oil is down. A whole bunch people up there are probably struggling to make ends meet in that shite hole of city
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