| If you're looking to buy property for back taxes as | | | | it. You'll be able to negotiate all kinds of deals with |
| part of an investment strategy, you'd be wise to get | | | | these owners. You'll also find another subset of |
| going on it. Because of the recession, foreclosure | | | | owners - those that, for whatever reason, have |
| rates are sky-high - but they won't be forever. Here's | | | | decided to just let the property go to the government. |
| the easiest way to buy property for back taxes - | | | | This small subset of owners is your gold mine. They |
| outside the auction. | | | | are often willing to sign over their deeds to you just to |
| 1. Wait until after the tax sale. The results of the tax | | | | get the process over with faster. Offer them $100 for |
| sale will show you which properties are worth buying - | | | | their time and you'll find them agreeable more often |
| bad properties won't have gotten any bids. Let the big | | | | then not. |
| investors and companies do your research for you. | | | | Best of all? By this point, most of these properties are |
| They have lawyers and researchers who won't let | | | | free and clear. Mortgage companies will come in and |
| them buy property for back taxes at the tax sale | | | | pay the taxes on mortgaged properties, so when you |
| unless they've determined they're good deals. | | | | buy property for back taxes, you'll find it's often free of |
| 2. Wait until close to the end of the redemption period. | | | | other liens. |
| Most states allow owners a year-long grace period | | | | 4. Pay off the taxes yourself, or quickly flip to another |
| after tax sale to repay the taxes. Many will. By | | | | investor for a profit. Since you are getting these |
| checking back towards the end of the redemption | | | | properties for so little money, you can afford to sell |
| period, you'll see which good properties still haven't | | | | them at steeply discounted "rehabber" prices. This is |
| redeemed - these will be your target properties. | | | | the easiest way to pocket thousands in profit, even if |
| 3. Contact the owners of the properties, and see what | | | | you only have a few hundred dollars to start with. Or, |
| their plan is. Owners who can pay off by now will | | | | simply pay the taxes off, and rent out the property |
| have. The ones who can't, need to sell, and they know | | | | yourself - it's that simple. |