| Want to start buying investment properties? | | | | them via email, letter, or even on Facebook or |
| Purchasing property by paying back taxes is the way | | | | Myspace. |
| to go. Here's how to get tax property for $200 or less, | | | | 4. Ask the owners if they'd mind signing their deed |
| outside the auction. | | | | over to you. Pay them $200 for their time to sign the |
| 1. Don't bother attending the tax auction. There are too | | | | paperwork. That's all you have to do to start |
| many other bidders. Too many bidders means not | | | | purchasing property by paying back taxes. They don't |
| enough good deals. Purchasing property by paying | | | | value the deed anyway, and are glad to get rid of it. |
| back taxes is next to impossible at tax sale. Also, you | | | | 5. Finally, pay the taxes or flip the property. You can |
| don't get to see the interior of the property until close | | | | keep the property for a rental, or live in it. If you don't |
| to a year has gone by. Bad idea. | | | | want to pay the taxes, list with a realtor well below |
| 2. Wait until a few months before the end of the | | | | market value. |
| redemption period. Mortgage companies have already | | | | This is by far the best way to start purchasing |
| bailed out mortgaged property at this point, leaving free | | | | property by paying back taxes and/or with very little |
| and clear property. The remaining owners probably | | | | extra money out of pocket. And it just so happens |
| can't pay their taxes, making purchasing property by | | | | that a bad economy creates the perfect conditions for |
| paying back taxes from them much easier. | | | | you to jump right into the business. There's really never |
| 3. Find the owners of these properties. This can usually | | | | been a time more pregnant with opportunity than right |
| be done fairly simply using the internet. Next, contact | | | | now. |
| them - phone works best but you can also contact | | | | |