Buying Homes For Back Taxes - Easier Than You Think

By now you've probably seen a lot of tax sale related infomercials and figured out that the tax sale investing field is pretty crowded

. Buying homes for back taxes has been a trendy investment to make over the last decade, and tax auctions have gotten crowded with amateur investors and huge investing companies alike. There are few good deals to be had there anymore. But getting tax property is still a great way to make a lot of money - you just have to go around the auction, avoid that whole mess, and buy directly from the owners.

Lots of former mortgage foreclosure investors start out buying homes for back taxes this way - but even they miss the boat. Using their experience, they contact owners before the tax auction and attempt to use the upcoming tax sale to motivate the owners. Unfortunately, most owners are holding out hope they'll be able to bail the property out before sale, and refuse to sell.

That's why we approach them after tax sale. During the year or so redemption period after tax sale, the owners must sell to avoid losing everything. This is a great time for creative financing, and creative flipping. You can often get or flip properties with as little as a few hundred dollars out of pocket. Many of the biggest real estate gurus out there started buying homes for back taxes this way.

Another consistently overlooked opportunity is the tax sale overages - that is, the excess amount bid over what was owed at tax sale. This money is usually due back to the owners, but they are frequently long gone from the property and are never notified. When you contact them to let them know you've found missing money of theirs, they usually have no idea where it's from.

This is why your services as a "found money professional" - one who finds these overages, finds their owners, and connects the two for a finder's fee of 30-50% - is so valuable. Without a money finder, these owners will eventually lose the overage once the government has held it for specified length of time. Because these funds frequently run into the tens of thousands of dollars, this is an excellent way to create a five-figure/month income for yourself with little start-up capital.

by: Maggie Dawson

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