subject: Looking To Buy A House For Back Taxes? Here's How It's Done The Right Way [print this page] Looking To Buy A House For Back Taxes? Here's How It's Done The Right Way
If you go about it properly, buying a house for back taxes is one of the least risky and most profitable ways to make money. Understanding which type of property to invest in is key; if you understand that, you'll be unstoppable. If your looking to buy a house for back taxes - the best property to buy - is often free and clear. Here's how to get it outside the tax sale, for as little as $100.
Tax sale is not the place to get this property. In case you need convincing, consider this. The process is designed to elicit the highest price for a property - and your competition makes sure it stays that way. In addition to that, if you do win, you'll have to pay every cent of it right there at the auction. 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 all doesn't affect you. You'll be getting your properties an entirely different way. Instead, you're going to buy directly from the owners at a specific point in the process - when their property is about to be lost forever. You won't find many owners still trying to pay their taxes - most have decided to just let the property go.
You'll be focusing on these owners, above all else. The owners, oftentime heirs or landlords, don't want the burden of a second set of taxes. They just want the property to disappear. Getting their deeds are as simple as asking for them. Tell them you can afford to pay them $200 for the time they'll have to take out of their busy schedule. Then, just pay the taxes and you're the new owner! Or, price it low and sell it right away for thousands in profit.
Ever heard of a better technique to buy a house for back taxes for $200? Don't make excuses for continuing to put it off... get started today.
If that's not enough for you, wait until you hear this tip. when overbids occur at tax sale, the amount over the taxes is usually due back to the original owner. But the poor owners usually don't know this. They've often moved, and thus don't get any notice that's sent to the tax sale address. Unfortunately for the owner, if they don't collect the money in time, they'll lose it - permanently.
But all is not lost. Since this money is held at the local level, state money finder laws don't apply (usually). So if you find and help these owners recover their funds, you can charge up to a 50% finder fee. Since you'll often find overage amounts like $10,000, $20,000 and more, that means an easy six-figure income for you.
