"Maricopa County is gearing up for its largest sale of delinquent property-tax liens on record, an estimated $47.5 million worth of unpaid taxes available for purchase by investors.
Bidding on property-tax liens occupies a relatively obscure niche in the arena of real-estate investment, but experts say investors who know what they're doing can achieve a fairly reliable rate of return with interest as high as 16 percent.
'It's a pretty small universe of people that actually get into it,' said Mark Manoil, a Phoenix lawyer who specializes in property-tax issues and has written a book about tax-lien investing."
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$47.5 mil in overdue county bills available for investors to buy
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