Real estate overages and tax property sales are a phenomenal investment, and anyone can get a piece of the action - regardless of their financial status. But not just any investment will work - you have to know what the best property to invest in is, and how and when to purchase it. This "secret" property is tax foreclosure property - but the real secret is in how to get it outside the auction for $200 or less.
If you want to profit as much as possible on this property, you have to avoid tax sale. Why? You'll pay close to market value this way, due to the immense competition. And if you do win, even though you can't actually get the deed (or inspect the property!) for a year or more, you'll still have to pay the entire bid up front. Again - tax sale is a waste of your time. 95% of the time, the owners redeem their property out from under you anyway.
Thankfully, this isn't the only way to get tax property. Wait out most of the redemption period, and then approach the tax delinquent owners at that point, and that point only. The owners remaining at this point either don't want the property, or can't pay the taxes.
These are the exact type of people you want to work with. You will find this is often a second property, or an inherited one. Either way, they don't want it. Simply ask them if they'd mind signing over the deed. Toss in a few hundred dollars as payment for their time. Then, it's up to you to decide how to take your profits from your $200 property!
This is the only surefire way to get tax property for $200 or less. Don't wait to get started - there's a huge inventory of tax properties waiting for you.
There's an even bigger secret - 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. Typically, they no longer live at the property - so they miss the government notices to come and get the funds. And it gets worse - if they let it sit for a year or more, in most cases it will be lost permanently to the government. This is why so few Americans actually know about real estate overages and tax property sales.
Here's where you come in - since these funds aren't held by the state, they are usually not subject to state laws about finder's fees. So you can find these owners and charge up to a 50% finder's fee for your information and collection service. Since these are real estate overages, they're often for high amounts - which means lots of profits for you. Real estate overages and tax property sales can earn the average Joe a lot of money when he uses some of the tricks discussed in this article.