Buying A House For Back Taxes - Tips To Get Cheap Tax Property

Regardless of your age, occupation, or educational background

, if what you want is to make money from real estate, start buying a house for back taxes. Understanding which type of property to invest in is key; if you understand that, you'll be unstoppable. This "secret" property is tax foreclosure property - but the real secret is in buying a house for back taxes outside the auction for $200 or less.

Wouldn't it just be easiest to buy this property at the tax sale auction? No. You will never, ever get a property at tax sale for a few hundred dollars. Your competition will make sure of that. Not only that, but you're buying property sight unseen! No inspection is allowed before tax sale. Don't bother with tax sale. The owners usually redeem the property anyway, leaving you empty-handed.

Good news: this isn't how you want to buy tax property in the first place. Wait until a few months before the end of the redemption period - that's your "hot" zone. The prospect? The tax delinquent owners themselves. It's doubtful that anyone left at this point is planning to redeem their property.

You'll be able to buy these properties for next to nothing. You'll often find these owners are heirs who never wanted the property to begin with. You don't need to do much else but ask, and these folks will sign over the deed. The paperwork necessary could take an hour to fill out - offer them $200 for their time. With $200 invested, you can then afford to sell for cheap and take your profits immediately! Or, redeem, and keep the property.

If you're serious about buying a house for back taxes, this is the way to do it. The economic slump has created the perfect opportunity for you to buy tax sale property, so don't put it off any longer.

I'll give you one more major tax sale tip. when overbids occur at tax sale, the amount over the taxes is usually due back to the original owner. Too often, the delinquent owners don't know they can get the money. They often never find out, since they don't live at the tax sale property anymore. After a year or so, if uncollected, the government gets to keep the money and the owner is out of luck.

But since this money is held outside the state level, the funds aren't subject to money finder laws (in most states). So if you find and help these owners recover their funds, you can charge up to a 50% finder fee. And as you can imagine, real estate surpluses are often for a lot of money - $10,000-$50,000. You do the math!

by: Maggie Dawson

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