If you want a more secure future, start building a real estate portfolio with property tax investing. Anyone that is willing to learn how, can become a profitable tax sale investor - especially in the current economy. Here's how you can start buying properties without attending the tax auction for $200.
1. Get tax sale out of your head. Most properties at tax sale sell for close to retail value. Between new bidders and large tax firms, good properties almost always sell for close to what they would on the market. By the way - if you did win the bidding, it would be on a property you haven't seen the interior of. This is all fine and good - you're going to avoid these problems of property tax investing by buying outside of the foreclosure sale.
2. Wait until a few months before the end of the redemption period. Mortgage companies will have bailed out mortgaged properties by now, so all that's left is free and clear property. The remaining owners probably aren't planning to pay the taxes, for whatever reason. This is a great time and situation to find owners willing to sell for cheap.
3. Find the owners. Social networking sites, free searches, Google, and skip-tracing sites make this an easy thing to do on the web. Then, call or email them. Initiating contact via phone is usually your best bet.
4. Now, talk to the owner about the deed. See if they'd be willing to deed the property to you, since they aren't going to keep it - and offer a few hundred for the effort. And that's it - they'll say yes most of the time, and you've gotten a deed for $200.
5. Sell or pay the taxes on the property. If you want to keep the property, great - pay the taxes and rent it out or live in it. Or if you don't have the cash, price the property low and sell to another investor. Either way, you'll profit. If you're skeptical, try this method of property tax investing for yourself. You'll be shocked how many deeds you get this way. Don't make excuses for continuing to put it off... get started today.
Current foreclosure rates won't last - act now!
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