Property taxes all across the USA are collected at the county level and these taxes are used for a variety of public services. The most well-known of these services are; public schools, law enforcement and road maintenance.
The big question is, "what happens when property taxes are not paid?" How can the county continue to provide these public services without its revenue stream?
The state establishes whether it will be a "deed state" or a "lien state", but it is up to the county to implement the method the way they see fit. Some counties follow the state model, some don't.
In either case, the county government can legally take the property from the home owner and sell it to recover the unpaid property taxes. In "deed" states the county follows a process established by the county legislaters and sells the property at auction.
The winning bidder gets the deed to the property. In the "lien" states, the county places a lien on the property then sells the lien to an investor so the county can get thier tax revenue. Then after a specific period of time (the redemption period) the lien-holder can foreclose on the lien and take the deed to the property.
In either case, if the property taxes are not paid, the county can take control of the property and sell it to recover those unpaid taxes.
or REP is a privately held real estate development company operating in multiple residential real estate market areas in the USA. We buy and sell notes, mortgages, tax deeds, tax liens and other debt instruments on residential real estate within these market areas.
Paper: We buy and sell Notes, including defaulted Notes and similar delinquent debt related to real property. If you would you like to have a conversation with us, check out the contact us page.
Notes and Mortgages
Promissory Notes linked to a Mortgage or Deed of Trust on residential real estate represent one of our preferred investment vehicles. Buying and holding a long-term note can provide steady income with the security of real estate.
Strong notes provide us with long-term, relatively passive income without the difficulties and risk associated with rental property.
Defaulted notes provide us with an opportunity to acquire a residential property without the hassle and competition of the public marketplace known as the Multiple Listing Service.
Our primary business is holding Notes, liens and other debt instruments on residential real estate. These could include mortgage notes, mechanics liens and of course tax defaults. Are you holding a note and wish to cash out? Do you have a lien on a property and need to get paid?
We may be able to help. Please give us a call to begin the discussion.
Tax liens and tax deed auctions are an area of specialty. The short-term excitement surrounding the auction process is quickly replaced with the peace of mind in our long-term stability and steady income derived from the debts we purchase.
Residential Equity Partners is operating as a private equity fund and is closed to additional, outside investors. This website is our expanded business card and provides contact and reference information to the marketplace where we operate.
Tapes and Blocks
We are also interested in purchasing large blocks of residential property, whether it be a portfolio from a retiring landlord or a tape of REOs from a lender.