| Even if you have very little capital to get started with, | | | | having decided to just let the property go. These |
| now is the time to break into the field of real estate | | | | owners are your golden goose. Offer to pay them to |
| investing. There has never been a time in the past | | | | sign the deed over to you ($200), so you can "see |
| when so much opportunity was present for investors. | | | | what you can do with it." Since the deed is worthless |
| Here's how to buy property for back taxes - even if | | | | in their minds, you'll get a lot of people just happy to |
| you only have $200-$500 to get started with. | | | | see $200. |
| First, avoid buying property at tax sale. You may have | | | | Other owners still value their properties and know it's |
| already figured this out. If not, here's why you don't buy | | | | time to sell. Offer them $200 for their deed and agree |
| property for back taxes at tax sale: there's too much | | | | to share profits if/when you are ever able to sell the |
| competition, and bids go too high; you can't inspect the | | | | property. Or, offer them $200 and rent the property |
| property before you buy it; most of the time, the | | | | back to them. |
| buyers pay off the taxes, leaving you deed-less; and | | | | Then, just pay the taxes off and the property is yours. |
| finally, you have to come up with your entire bid right | | | | If you're not renting back to the owner, you can sell or |
| then and there - in cash. | | | | rent the property. And if you've only got that $200 to |
| A much better way to buy property for back taxes is | | | | your name, quickly flip the property to another investor |
| directly from the owners themselves - but only after | | | | by pricing well below market value. You'll still make a |
| tax sale. By waiting until near the end of the | | | | nice profit, and the new buyer can deal with the tax |
| redemption period, you won't waste your time on | | | | problem. |
| property with owners that are going to pay the taxes | | | | If you're looking to start investing for cheap, this is the |
| off (they will have by then), or properties that have a | | | | only surefire way to get in on the tax sale property |
| mortgage (mortgage companies will have redeemed | | | | everyone's trying to get - and best of all, there's almost |
| by then). | | | | no competition for these properties when you're going |
| All that's left is owners that can't pay, and need to sell. | | | | after them. |
| Some owners will have given up and moved on, | | | | |