House With Unpaid Taxes Leads To Insane REI Profits

House With Unpaid Taxes Leads To Insane REI Profits

Are you letting fear hold you back from investing in house with unpaid taxes? Don't. Get educated, and take the leap. What you'll need to become intimately familiar with is the right (and wrong) property to buy, and exactly how to go about getting it in the most profitable way. Even better news? The best type of houses with unpaid taxes to make a ton of money on is cropping up everywhere in the last few years: tax property.

So, why should you avoid tax sale? There are a few key reasons. You'll pay close to market value this way, due to the immense competition. Not only that, but you can't inspect the property, or finance it - you have to pay for your purchase immediately, sight unseen. And here's the saddest part: if you do somehow prevail, 90% of the time the owners pay the taxes and it's gone anyway.

That's all fine because tax property can and should be bought in an entirely different way. Wait until a few months before the end of the redemption period - that's your "hot" zone. The prospect? The tax delinquent owners themselves. You'll find a whole lot of owners at this point who just don't want the property anymore.

It will be easy to buy their properties cheaply. People decide to let go of properties for different reasons, but they all have one thing in common - they no longer want it! By simply asking if you can have the deed, since they're letting it go, you'll be amazed how much property you can get. Toss in a few hundred dollars as payment for their time. Now you can quickly flip your $200 property and make thousands - or redeem and keep it for yourself!

This technique is called "deed grabbing," and it's extremely effective. And it's the perfect time to start, with a huge number of foreclosures right now - you can quickly get your hands on a house with unpaid taxes.

Want to know the tax sale investors' biggest secret? in most counties, any amount that's bid over what was owed on the taxes on the house belong to the owner that lost the property. More often than not, the owners don't understand their legal right to the money. The owners rarely figure it out, since they don't live at the property anymore and, thus, don't receive notice from the government that they have the money waiting for them. Unfortunately for the owner, if they don't collect the money in time, they'll lose it - permanently.

However, these funds are not held by the state, and that means that state money finder laws don't apply to them in most places. That means you can charge much more than 10% as a finder's fee - more like 40-50%. That means some nice paydays, since real estate overages are often $10,000 or much more.

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