Most real estate investors find deals through the MLS, wholesalers, or networking, but what about buying property through an IRS tax auction? We’re diving into this less-common investing strategy with a WIIRE community member who took on a complicated deal with the potential for a significant payoff.
In this episode, we're joined by our friend, Jill Lipinski, who breaks down what it actually looks like to purchase a property at an IRS tax auction, from researching the property and understanding liens to navigating the bidding process and figuring out what happens after you win. Jill shares how she secured a property for about $100,000, the risks of an existing mortgage, and why doing your due diligence is absolutely essential.
We also explore potential exit strategies, including flipping the property, turning it into a long-term rental, or considering midterm and short-term rentals. You'll hear how she’s approaching the numbers, planning a BRRRR-style strategy, and navigating the six-month redemption period that comes with this particular purchase.
If you’re curious about alternative real estate investing strategies, this episode offers a behind-the-scenes look at a deal that requires patience, research, professional guidance, and a healthy tolerance for risk.
Tune in to learn what to consider before pursuing IRS tax auctions and whether this unconventional investing strategy could fit your real estate portfolio.
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