| Yes - it's possible to buy property for back taxes | | | | making serious money without owning property at all, if |
| alone. However, this is rarely the case, as tax | | | | that's not your bag. Tax sale overages. When |
| delinquent property is usually sold to the highest bidder | | | | properties are sold at tax sale auction, as stated |
| at auction for much more than the amount of taxes | | | | previously, they are often sold for much more than |
| owed. What most investors don't realize is that the tax | | | | what was owed in taxes. The surplus amount is due |
| sale process creates a huge money-making | | | | back to the tax delinquent owner in many cases. |
| opportunity of its own -- and there is still a way to buy | | | | Unfortunately for the owner, they are often unable to |
| back taxes property for close to, if not the exact, | | | | be located and notified, and the money ends up |
| amount of back taxes owed. | | | | belonging to the government after a few years. |
| First, how to get these back taxes properties for | | | | A little-known loophole exempts these funds from |
| pennies on the dollar? The answer's simple: buy | | | | being subject to finder's fee caps. This means that if |
| directly from the tax delinquent owners. The secret is, | | | | you have to search far and wide to find one of these |
| buy from them after the tax sale has already | | | | owners, it'll be worth it, because you can ethically and |
| occurred, but before they have permanently lost the | | | | legally charge 40-50% as a finder's fee. These |
| house (in most states, they have a year to pay the | | | | overages regularly run into the tens of thousands... so |
| taxes after the tax sale). This is a make-it or break-it | | | | with the current foreclosure rate at an all-time high (this |
| time for the owners, and if they can't pay the taxes, | | | | applies to mortgage foreclosure overages, too) there |
| they'll sell to you for C-H-E-A-P. | | | | is an unheard of amount of money waiting to be made |
| Now for the good stuff: a largely unknown method of | | | | with overage collection. |