Unpaid Prop Taxes Are The Key To Unlocking Huge REI Profits

Unpaid Prop Taxes Are The Key To Unlocking Huge REI Profits

There is no better way to become independently wealthy than by investing in unpaid prop.taxs. The key to success in unpaid prop.taxes is knowing secrets to what property will make you millions, and how and when to buy that property. Follow these rules, and you'll find investing in unpaid prop.taxes - outside the auction - to be the best move you've ever made.

Isn't the simplest way to get tax property just to bid at auction? No, no, no. With the number of competitors you'll find there, the chance of getting a property for a real bargain is slim to none. And if you do win a bid, it's for property you've never been able to inspect. It's futile, even if you do get a deed: the owners have a year to pay off, and usually do.

Friend, tax property can be bought via other avenues, so don't get discouraged. It's best to buy right from the owner himself - when the window to redeem is quickly closing. Most of the owners left at this point are forfeiting the property to the government - they don't want it anymore.

You'll be focusing on these owners, above all else. These are often properties that someone's aunt or grandmother left - and they don't want to deal with it. Offer to take the deed off their hands now, since they're letting it go anyway. For signing the paperwork, offer them a few hundred dollars for their time. Now you can either sell quickly, or pay the taxes and keep it. It's up to you!

This method of buying unpaid prop.taxes is by far the most successful. The number of tax foreclosures is through the roof, so don't wait to get started.

Here's another secret... when more is bid for a property than is owed in taxes, the overage is usually due back to the guy that lost the house. But the former owners are often unaware of this! Since they usually have moved on from the tax sale property, they don't get notices of the overage. After the money sits long enough, the government can legally seize it - and the owner loses it forever.

But there is some good news. Since this money isn't held by the state, state laws capping out finder's fees don't apply. So if you can find the owners, you can charge up to 50% as a finder's recovery fee. These overages are regularly $20,000 or more. Could you make a living on $10,000 paydays each month?

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