House Hunt in Lincoln

[Kaladin]

I purchased a couple tax lien certificates recently in Omaha.

I have never heard of this before

Interesting

 

[Jim14510]

No.. Bingo runs the best glory hole spots and they are all in AZ.

Seems unlikely there are only glory holes in Arizona. Would bet California and Florida have tons of glory holes.

 

[TampaBaySkers]

I have never heard of this before

Interesting

Tax liens? They are awesome.

If someone doesn’t pay their property tax then you pay on their behalf. The county needs the money for schools, police etc.

In Douglas county you get a 14% return. The home owner has three years to pay you back with interest. If they don’t pay you, then you can foreclose on them and take their house.

 

[Black Dean]

One of my relatives is looking to purchase their first home in Lincoln this year (they are currently living in their parents house like a 30+ year old bum) but I am unfamiliar with the market since I haven't lived in the area for over a decade. Any tips from folks on the board in the real estate arena? I think they are looking for a home up in or near Fallbrook. Tips for people to use or have them reach out to? Good folks to get financing through? Appreciate in advance the collective genius that I know this will produce.

I read this as Horse Hunt in Lincoln and was disappointed

 

[Jim14510]

I have never heard of this before

Interesting

Essentially you pay the tax and they have so much time to pay it back before you get possession. Varies by state how much time. 3 years in Nebraska I think.

Usually ends up being a loan you get paid interest on. Especially if it has a mortgage. Bank isn't going to let it go for a couple years of tax. They'll foreclose first.

Generally only realistic to get a house if it's a piece of shit.

One of the RE agents can probably explain better.

 

[TampaBaySkers]

Seems unlikely there are only glory holes in Arizona. Would bet California and Florida have tons of glory holes.

Of course, but they don’t meet the high standards that only a bingo-managed glory hole center has

 

[cwessel76]

Good gay club there for you ?

 

[TampaBaySkers]

Essentially you pay the tax and they have so much time to pay it back before you get possession. Varies by state how much time. 3 years in Nebraska I think.

Usually ends up being a loan you get paid interest on. Especially if it has a mortgage. Bank isn't going to let it go for a couple years of tax. They'll foreclose first.

Generally only realistic to get a house if it's a piece of shit.

One of the RE agents can probably explain better.

True. 99% will pay you. It’s the awesome return is what is exciting.

Also - a good strategy to pickup land on the cheap. I think everyone should own a little bit of land before that Pedo, Bill Gates buys it all up.

Don’t make a rookie mistake like I did and bid on land that is land-locked (no road to land)

 

[FLusker]

My brother used some of the recommendations here and closes on his first house this month. Appreciate all the good info.