Monday, the Alpine TLI Group (Pink Sheets: APGR) announced the acquisition of deeds on $400,000 in real estate from unredeemed Nebraska tax liens, sending shares up 20% Monday morning. Shares are currently trading at 7 cents Tuesday mid-afternoon, up 16.67% from yesterday’s close.
Alpine is engaged in a business plan utilizing a fund model and proprietary research techniques to boost its profit potential in the tax sale industry. The mortgage crisis has resulted in more delinquent property taxes, leaving counties and local governments frantic to collect the past due taxes. More than $10 billion in property tax liens are on the table for companies such as Alpine to acquire.
“Nebraska has always provided a large number of quality properties at their annual tax sales. We are excited to show our shareholders and investors the strength of our business model as we acquire properties at massive discounts across the country,” Taylor Abegg, II, CEO of Alpine stated in the press release.
Alpine’s recent acquisition of the deeds was granted from previous tax lien auctions. According to the company, Nebraska tax sales allow Alpine to pick up liens on the properties for as little as 1% of the value. Most times, the deeds are purchased for the amount of past due taxes, representing 5% to 10% of the property value.
Let us hear your thoughts below: