Mr. Cowgill is not working for the state government anymore, but currently owns and operates a company called Kentucky Tax Liens fund LLC. Shortly after his resignation he registered as a third party purchaser with Kentucky Department of revenue to buy my and your property tax liens.
Business is lucrative and booming due to bad economy and local government budget deficit. I do not see anything wrong with investors buying tax liens with a 12% rate of return to fund local governments. In theory this is a novel and amazing idea. But giving private citizens the powers of the goverment can cause some unexpected consequences.
For example why a private investor should buy a 200$ property tax lien in pikeville Kentucky which he can only make 12% per year (24$ a year). You got it wrong, they are actually fighting over to buy it, but why?
Current laws allows investors to charge property owners "actual" attorney cost
which is the game changer. Investors like Mr. Cowgill will buy your lien just so that they can charge their costly attorney fees. He can also charge 100$ just for the administrative fees. So now you know how to double your money in Property Tax Liens.
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