If you want to learn how to buy investment property the right way, look no further than tax foreclosures. Tax property is great to invest in for several reasons: the current economy is producing lots of it; by the time a tax property has made it all the way to auction, it’s usually free of mortgages and liens; and best of all, you can get them for a tiny fraction of their worth (under a thousand dollars) much of the time, if you know the right way to go about buying them.
By “the right way,” we’re not talking about attending the tax sale with everyone else, his brother, and his brother’s massive tax sale investing company. This is a surefire way to waste your time, and decide that tax sale investing’s not all its cracked up to be. So how to buy investment property the right way? Buy tax delinquent property directly from the indigent owners, after the tax sale.
Why after the tax sale? Three reasons. One, you can look up the results of the tax sale and see which properties got bid on a lot. That will give you a clue as to which properties are worth your time, and you let the big tax sale companies do the work for you. Two, less competition: almost no investors are privy to the fact that you can still legally buy property even after it’s been “sold” at tax auction. Three, by the time their property has been “sold” at tax sale, most owners are ready to let the property go if they can’t pay the taxes.
This period of time is the absolute best time to contact owners. Once on the brink of losing everything, they are the epitome of motivated sellers and will be ready to deal. You can frequently pick up deeds for as little as a few hundred bucks from owners that have “let the property go” in their minds.
If you’re a new investor, you may want to look into another aspect of tax sale investing as well: collecting the overages, or the excess funds created when and investor bids more for a property at tax sale than the tax delinquent owner owes in taxes. That money is usually due back to the owner, but for a variety of reasons, these owners almost never know about it.
Since these funds aren’t subject to state unclaimed property laws, there are no limits to what you can charge for finder’s fees to reunite these owners with their funds. The industry average is about 40%. Do the math: on a $20,000 overage, that’s an $8,000 payday for you, all for making a few calls, sending a few emails, and getting an ordinary citizen like yourself some of his hard-earned money from the government coffers.
So where to find records of these funds, and how to find their owners? Read the *free* Hooked On Overages “Insider’s Guide.” Visit http://Tax-Sale-Overages.com now.
Or, learn insider deedgrabbing strategies from this *free* report. Visit http://DeedGrabber.net now.
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