subject: Can You Get Real Estate Just By Paying Taxes? - Yes [print this page] Regardless of your experience level or bank balance, if you know what you're doing, you can get real estate by paying taxes - and make a lot of money doing it. All that stands between you and a real estate empire is knowing what property you should buy, and how and when to get it for as little as possible. These insider tips will show you how to get real estate by paying taxes for as little as $200 per deed.
You're probably wondering why it's bad to bid at the tax auction. There are a few concerns. Competing with other bidders is a recipe for paying the highest possible price for property. Also, properties are sold as-is - and you can't view them before buying them. Does that sound smart to you? It's futile, even if you do get a deed: the owners have a year to pay off, and usually do.
But that doesn't mean there aren't tons of gems waiting to be bought. You'll buy only from tax delinquent owners, and only during the last two months of the redemption period. Most of the owners that haven't redeemed are owners that don't want the property anymore.
Buying from these owners will be a cakewalk. These are often properties that someone's aunt or grandmother left - and they don't want to deal with it. Since you're already letting it go, you ask, can I have the deed? It's that simple. Their time is important, so be sure you offer $200 for the time it takes to sign the docs. Next is up to you to decide whether you keep the property, or sell it and let the new owner deal with the taxes. Either way, you profit big time.
Can you think of any other way to get real estate by paying taxes get this cheaply? Has there ever been a better time to get started? Don't put it off another day.
One more little treat from the insider tax sale investors: 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. Too often, the delinquent owners don't know they can get the money. They almost never figure it out, because communication is sent to the tax sale address - and they don't live there anymore. After a year or so, legally, the money becomes property of the government, and the owner loses it forever - even if it's $50,000.
Here's where the big secret is: these funds aren't governed by state laws in most cases. That means you can legally collect 40% or even 50% as a service fee for helping these owners find and collec their overages. Since you'll often find overage amounts like $10,000, $20,000 and more, that means an easy six-figure income for you.
