subject: Paying Delinquent Property Taxes As An Investment Can Generate Huge Rei Returns [print this page] Every successful investor you know has real estate in his portfolio which includes paying delinquent property taxes as an investment; a solid investment, at that. What you really need to comprehend fully when considering paying delinquent property taxes as investment, is how to buy the property, what type of property to buy, and - important - when to buy it. Here's how to buy free and clear tax property for as little as a few hundred dollars.
If anyone has told you that buying property at tax sale is easy, here's why that is totally inaccurate. The government sells at auction for a reason - to get the highest price. The bidding ensures you won't get a big discount on anything. It's designed that way. Not only that, but you can't inspect the property, or finance it - you have to pay for your purchase immediately, sight unseen. Here's the kicker: if you do win the bidding, and pay the money, the owner will probably pay off the taxes before you get the property anyway.
Friend, tax property can be bought via other avenues, so don't get discouraged. It's best to buy right from the owner himself - when the window to redeem is quickly closing. The owners that haven't bailed out their property by this point, probably aren't planning to.
These are your target prospects. You'll often find these owners live across the country, and that this is a second home, or inherited home, that they just don't want to deal with anymore. The deed is worthless to them - so just ask if you can have it! You can even offer $200 for their time. With $200 invested, you stand to profit no matter what you do next. Redeem and keep the property, or sell it quickly for a discount, and take your profits immediately.
No other method of paying delinquent property taxes as an investment is as easy and risk-free as this one. There's never been a better time to start buying tax property.
Want to know the tax sale investors' biggest secret? when the county gets more money for a property than was owed on the taxes, that money usually belongs to the delinquent owner. But sadly, the owners (who really need it!) are often unaware of this law. They almost never figure it out, because communication is sent to the tax sale address - and they don't live there anymore. After a year or so, legally, the money becomes property of the government, and the owner loses it forever - even if it's $50,000.
Since this money isn't held at the state level, you're not subject to the state "unclaimed funds" money finder laws, in most places. That means that you can charge 40-50% as a finder's fee for reconnecting these owners with their funds. Since real estate overages are often $10,000 plus, that can mean some really nice checks for you.
by: Maggie Dawson
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