Tax Investing Without Buying Deeds Or Liens at Auction - Insider Secrets
If you want to get into tax investing, the first thing you need to learn is how to avoid the tax sale.
Too much competition, being forced to buy properties sight unseen, and having to pay in cash at the sale makes tax investing at the sale a losing proposition.
Smart investors exploit another option that allows them to go around these obstacles and get great deals on tax property.
The only surefire way to get these properties at the price you'll need to make a huge profit is to wait for a certain point in the foreclosure process and then approach the owners directly.
When's the right time? After tax sale.
Surprised? Most investors don't realize it's still perfectly legal to buy property from the owners during the redemption period, even after the property has been "sold" at tax sale.
And psychologically speaking, this is the time when the owners are most motivated to sell.
There are tons of ways to make deals during this time period, and profits galore if you're smart about it.
Owners are often dying to be done with the situation, and will sign over their deeds to you for as little as a few hundred dollars.
Other options for agreeing to split future proceeds with the owner can allow you to flip a property with next to nothing down, and to walk away with an easy five-figure payday, without ever having had to touch the property or even pay off the back taxes.
Another insider tax investing secret doesn't involve owning properties at all - it involves the overages created at the tax sale when more is bid for a property than was owed in taxes (this goes for mortgage foreclosures as well).
Those overages are due back to the owners, but frequently those owners can't be found.
If they don't come in to collect, at some point the government gets to keep the property forever.
If you find these funds and find their owners, due to a loophole in the unclaimed property law, you can charge 30-50% as a finder's fee - and with real estate overages running into the tens of thousands of dollars, you can make a tidy sum of money just pursuing these overages- no tax investing in property necessary.
Too much competition, being forced to buy properties sight unseen, and having to pay in cash at the sale makes tax investing at the sale a losing proposition.
Smart investors exploit another option that allows them to go around these obstacles and get great deals on tax property.
The only surefire way to get these properties at the price you'll need to make a huge profit is to wait for a certain point in the foreclosure process and then approach the owners directly.
When's the right time? After tax sale.
Surprised? Most investors don't realize it's still perfectly legal to buy property from the owners during the redemption period, even after the property has been "sold" at tax sale.
And psychologically speaking, this is the time when the owners are most motivated to sell.
There are tons of ways to make deals during this time period, and profits galore if you're smart about it.
Owners are often dying to be done with the situation, and will sign over their deeds to you for as little as a few hundred dollars.
Other options for agreeing to split future proceeds with the owner can allow you to flip a property with next to nothing down, and to walk away with an easy five-figure payday, without ever having had to touch the property or even pay off the back taxes.
Another insider tax investing secret doesn't involve owning properties at all - it involves the overages created at the tax sale when more is bid for a property than was owed in taxes (this goes for mortgage foreclosures as well).
Those overages are due back to the owners, but frequently those owners can't be found.
If they don't come in to collect, at some point the government gets to keep the property forever.
If you find these funds and find their owners, due to a loophole in the unclaimed property law, you can charge 30-50% as a finder's fee - and with real estate overages running into the tens of thousands of dollars, you can make a tidy sum of money just pursuing these overages- no tax investing in property necessary.
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