VIEWS: 3 PAGES: 2 POSTED ON: 5/4/2011
?Let's paint a picture of your future. It's the day of the next set of tax foreclosure auctions, 8 a.m. Dozens of agents for big tax foreclosure companies as well as newbie tax sale investors and people who just can't let go of the ghost stand milling about in the county courthouse, eyeballing each other mistrustfully. Where are you? You're at home, spooning your spouse, fast asleep under the 600-thread-count sheets on your NASA-developed foam bed. Why? Because you've discovered a little-known loophole, allowing you to invest-- without getting out of bed before noon-- in property you'd normally have to bid on at tax foreclosure auctions. If you've been bidding at tax foreclosure auctions, then you know the pitfalls of buying tax property this way. First and foremost, the competition. Oh, the competition. It's fierce nowadays. Everyone and his brother is a tax sale investor now... and that last property you bought didn't work out so well. Turned out there was a Radon gas issue emanating from the basement that cost $20,000 to fix... and your profit margin was only $15,000 to begin with. Your spouse may never let you hear the end of that! If this all sounds a little too familiar to you, you'll be happy to discover a little secret that most bidders at tax foreclosure auctions aren't aware of-- that you can buy those very same properties that are "sold" at tax sale,after tax sale, all throughout the redemption period that follows. From whom? The owners, of course. These properties all have a few things in common. First, they were worth bidding on in the first place. You can forget the unsold tax sale properties-- most definitely worthless. Reap the benefit of the time and research of those bidders at tax foreclosure auctions. You can almost always figure out what's worth buying this way. Second, they don't have a mortgage, or the mortgage company would have paid off the taxes prior to the sale. This means lots of juicy equity for you. Finally, quite obviously, something's up with these owners. Some are homeowners down on their luck, others are absentee owners who just let the property go (more often than you'd think, this is the case), but either way, they need to sell before they completely lose the property. So what you do is, you wait until a few months before the last day the taxes can ever be paid. You find these owners, which can sometimes be difficult. You give them a call, in a concerned and friendly way, and find out what's up with the property. Then, once you figure out which type they are, you use the right approach to facilitate a deal. Easy as that, and you grab the deed right out from under the tax bidder. Still need a reason to stop going to tax foreclosure auctions altogether? Try this one on for size. After the tax sale bidding is done, many property are left with overages-- that is, the amount bid at auction exceeded the amount owed in taxes, and now the (oftentimes very sizable) difference is due back to the owner. Much of the time, the owner doesn't realize this. They think you just lose everything when the government forecloses on you. That's where you come in. Find these overages (which, by the way, don't show up on state unclaimed funds websites and the like), find these owners, connect the two, and you'll be rolling in finder's fees-- finder's fees that for at least some period of time fall outside the finder's fee laws. Meaning you can (and should) charge up to 50%. You've got to know how to find lists of these funds, and how to find and approach these owners so that they don't try to collect without you and avoid your fee. You can grab the free Insider's Guide to raking in cash with overages - click here now: . Interested in owning property you can actually inspect before you buy? Read "5 Days to Getting Tax Delinquent Property for $200 or Less", click here now: .
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