Tax delinquent property is a great investment. If you've ever invested in mortgage pre-foreclosures, then you know what a walk in the park tax delinquent property investing is in comparison. Why? Well, a lot of reasons, but first and foremost: no mortgage to deal with.
Because it's so far superior to mortgage foreclosure investing, hordes of investors have flocked over to the field of tax delinquent property investing in recent years. You may have noticed that a new infomercial hawking a tax investing "system" seems to crop up every day. The field is getting crowded, and if you don't know a couple of loopholes, you'll have a tough time succeeding.
What you need to immediately learn to do is avoid the tax sale. That's the first place everyone goes to buy tax delinquent property. New investors abound there, as well as large tax sale investing companies. Staying a step ahead of the competition is key here, so let those two groups duke it out for properties while you take a backdoor approach.
Avoiding the tax sale is deceptively simple: contact the owners of this tax delinquent property, just before the redemption period to bail their property out of tax sale expires, and make a deal directly with them to buy their property. At this point in time, you're dealing with a highly motivated subset of sellers, and they are often willing to sell to you for pennies on the dollar.
There are a couple of reasons why it's imperative to make this your tax delinquent property investing strategy. First, you'll be able to inspect the property before you buy it. At tax sale, this is not the case-- you're taking a gamble on the interior of your property, and what will happen to it during the time you hold the lien or wait for the redemption period to expire. Along that same vein, secondly, you'll get the deed right now. No waiting. And most importantly, your competition simply doesn't invest this way.
They all wait for the tax sale.
Ready for the big cahuna insider tip? The overages created at the tax sale are collectible by the owner. For example, if a bidder at tax sale bids $50,000 for a property, and the taxes owed were only $5,000, there's now a $45,000 surplus due back to the owner. Frequently, owners don't know about these funds, and think they've simply lost everything.
Here's the part that's going to make you drool. In most cases, these funds fall outside the laws that cap money finder fees, if you get them in the right time period. Find these funds, connect them with their owners, and you can expect to be collecting five figure fees within months.
Because it's so far superior to mortgage foreclosure investing, hordes of investors have flocked over to the field of tax delinquent property investing in recent years. You may have noticed that a new infomercial hawking a tax investing "system" seems to crop up every day. The field is getting crowded, and if you don't know a couple of loopholes, you'll have a tough time succeeding.
What you need to immediately learn to do is avoid the tax sale. That's the first place everyone goes to buy tax delinquent property. New investors abound there, as well as large tax sale investing companies. Staying a step ahead of the competition is key here, so let those two groups duke it out for properties while you take a backdoor approach.
Avoiding the tax sale is deceptively simple: contact the owners of this tax delinquent property, just before the redemption period to bail their property out of tax sale expires, and make a deal directly with them to buy their property. At this point in time, you're dealing with a highly motivated subset of sellers, and they are often willing to sell to you for pennies on the dollar.
There are a couple of reasons why it's imperative to make this your tax delinquent property investing strategy. First, you'll be able to inspect the property before you buy it. At tax sale, this is not the case-- you're taking a gamble on the interior of your property, and what will happen to it during the time you hold the lien or wait for the redemption period to expire. Along that same vein, secondly, you'll get the deed right now. No waiting. And most importantly, your competition simply doesn't invest this way.
They all wait for the tax sale.
Ready for the big cahuna insider tip? The overages created at the tax sale are collectible by the owner. For example, if a bidder at tax sale bids $50,000 for a property, and the taxes owed were only $5,000, there's now a $45,000 surplus due back to the owner. Frequently, owners don't know about these funds, and think they've simply lost everything.
Here's the part that's going to make you drool. In most cases, these funds fall outside the laws that cap money finder fees, if you get them in the right time period. Find these funds, connect them with their owners, and you can expect to be collecting five figure fees within months.
