Welcome to another episode of AskAlHow. This video is part of my series where I explain the methods and procedure for Tax Sales in each state. In this post, I will discuss Wyoming Tax Sales.
This post features WyomingTax Sales Explained, A video posted on YouTube on April 19, 2020.
Wyoming Tax Sales Explained
Wyoming has 23 counties and is a lien state. In Wyoming, there’s a 15% interest plus a 3% penalty. The redemption period is four years. From the lien investment perspective, Wyoming is one of the top states. it is a consistent moneymaker. the bid process is Random Selection. When you add all that together you have a recipe for success.
A Word on Radom Selection
The Laws Have Changed
Other Wyoming Tax Sale Rules
Certificate holders must foreclose on the property prior to the 6-year mark. Now that being said, if our lien holder I certainly would not be waiting for six years, at the four year anniversary I would start foreclosure proceedings immediately. Unsold Tax liens may be purchased on a first come first serve basis from the county.
To me, this is one of the better states to do business with. Seems to me you’re going to make some money no matter what and at the worst option you might get yourself a ranch up at the top of the country. I give these guys a 4 out of 5
Interested in Tax Sales in Another State?
Tax Sales investing is a niche that has the potential to be insanely profitable.
However, most investors do not have a deep understanding of this investing strategy.
Every state has a unique set of rules and regulations. There are some basic rules you need to understand as to how the process works. Generally, states will fall into one of three categories:
- Tax Lien States
- Tax Deed States
- Hybrid States
Hybrids are states who conduct their tax sales by selling tax deeds with a caveat. The deeds have a redemption period much like a tax lien certificate.
This map provides links to information for every state as well as Washington DC.