The Laws Of Buying Houses For Back Taxes - Tricks Of The Trade

The Laws Of Buying Houses For Back Taxes - Tricks Of The Trade

Tax property is the best investment you can make in the current economy. However, you must first learn the laws of buying houses for back taxes. Once you get that out of the way, there's more opportunity available than ever before. Here's how you can start buying properties without attending the tax auction for $200 once you learn the laws of buying houses for back taxes.

1. Don't try to bid at the auction. There's been a huge influx of investors into the tax sale arena - too much competition. Not only that but you can drive by the property - and that's as close as you get to an inspection. Too risky. So by all means, don't buy at tax sale. You'll be able to get lots of properties without attending.

2. Nine months after tax sale is when you'll get started. By close to the end of the redemption window, people who can pay their taxes will already have done so. The homes unredeemed at this point are probably not going to be redeemed in time. This will be the type of owner and property you're looking to buy.

3. Find the owners of these properties. Put their names into Google - you'll be surprised how much info you find. If you find them on Facebook or somewhere else online, give them an email - but a phone call is always best if you can get a number.

4. Offer to get the deed out of their hair now. Find out what their situation is. If they are in fact letting the property go, simply ask them if you can have it. Offer $200 for their time. Most owners are glad to have the deed out of their name sooner, so you'll get a lot of "yeses."

5. Make thousands selling the property, or pay the taxes and keep it. Keep the property as a rental, or sell it later for retail, if you can afford to pay the taxes now. You also have the option of flipping the property right away for below market, and walking away with your profits.

If you've never heard of this investing method it's because those that practice it keep it a secret. Once you learn the laws of buying houses for back taxes, you can get a piece of the pie. This is a golden era for tax sale investing - there's never been a time quite like it. So get out there and make some dough!

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