The Lenawee County Treasurer has scheduled a property tax sale for Aug. 6 in Adrian, MI.
Property tax investment expert Ted Thomas said the sale will see some savvy investors stand to make a tidy profit if they get to buy some of the tax debts being offered at this sale. This is a tax foreclosure sale, so the successful bidder will get the property.
“You need to walk into the sale expecting to own the property. If you’re not willing to own the property, at least until you can sell it to someone else, you probably don’t need to bid,” he said. “You need to do your research on this. Investigate the property and decide if it’s something you are interested in.
This Michigan auction is for property taxes that are three years old. Mr. Thomas said anyone bidding in this sale needs to make plans to take care of the other past-due taxes soon after the sale.
“If you don’t cover those other taxes, the next property tax sale could put your investment in jeopardy.
The sale is also an in-person auction conducted by SRI Incorporated.
“If you are interested in bidding in this auction, you either have to be there or you need to find someone who can bid on your behalf. If you don’t know anyone in the area, call the tax office and see if they can recommend someone to bid for you,” Mr. Thomas said. “You could run a help-wanted ad in the local paper, The Daily Telegram.”
A list of the properties offered at this auction and the minimum bids may be seen athttp://www.sri-taxsale.com/Lenawee/Default.aspx. For more information about investing in property tax sales, visit www.TedThomas.com.
ABOUT TED THOMAS – Located in Merritt Island, FL, Ted Thomas is a noted expert in the field of property tax auction investing. His website, www.TedThomas.com, offers advice, free videos and blogs that explain the process, including all the risks and benefits of this kind of investing.
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