Landerville Business Plan Essay

2702 WordsOct 8, 201111 Pages
Business Plan LANDERVILLE INVESTMENT AGENCY By: Billy Hill October 3, 2009 Table of Contents 1. Executive Summary for Landerville Investment Agency 2. Business Description and Financing 3. Tax Lien Business 4. Tax Lien Market 5. Operations and Procedures 6. Bidding and Property Risks 7. Projected Profit 8. Conclusion 1. Executive Summary for Landerville Investment Agency, LLC Landerville Investment Agency’s goal will be to purchase tax liens from state government and city treasurer auctions and recoup the funds from the owner. State governments and city treasures will issue a lien against residential and business properties in an effort to recoup the owed tax money (Carr, 2003). After I have…show more content…
This company research and act quickly to purchase tax liens certificates deemed to be on good properties but the main goal will be to recoup funds from property owners (Merrit, 2009). Foreclosure will be the last resort, but the company will have to recoup their cost in order to make a profit (Merritt, 2009). City governments and county treasurers in more than thirty states have authorized the selling and purchasing of tax lien certificates on homes and businesses (Moreau, D., & Goldwasser, J., 1993). 3. Tax Lien Business What are tax liens? When a home owner fails to pay their real estate taxes, the county or city treasurer will place a lien on the property to ensure payment of the money owed (Carr, 2003). The tax lien is the legal assertion the county takes to recoup a specific amount of money against a property (Carr, 2003). Since it is a legal action the tax lien, the court records the action as part of the land record file (Carr, 2003). If the owner tries to sell or refinance the property the recorded lien would have to be financially satisfied before any ownership change (Carr, 2003). In some states such as California the owner can transfer the property title to another name, but if they want to sell the home or refinance then they will have to pay off the lien (Carr, 2006). Tax liens apply to residential and business properties. In the United States there are many states that sell tax liens on

    More about Landerville Business Plan Essay

      Open Document