| Even if you don't have a lot of money to invest, there | | | | competition to buy houses for back taxes owed. Most |
| has never been a hotter time to get into real estate | | | | competitors have moved on this late in the game. |
| investing. Here's how to buy houses for back taxes | | | | 4. Contact the owners who still haven't redeemed. Ask |
| owed with less than $200. | | | | them what their plans are. Most owners at this point |
| 1. Don't even think about attending the tax sale! | | | | are resigned to (or don't care about) letting the |
| Competition is too fierce at tax sale to get any good | | | | property go. These owners will be your best |
| deals - plus, you have to come up with your whole bid | | | | prospects. |
| in cash. Not only that, but you can't inspect the | | | | 5. Ask the owners if they'd mind signing their deed |
| property first. You can buy houses for back taxes | | | | over to you. Since they're going to let it go anyway, |
| owed without attending tax sale, and that's what | | | | ask if they'd allow you to see if you can do anything |
| you're going to do. | | | | with it. Offer to pay them a few hundred dollars for |
| 2. Check the results of the tax sale after it's occurred. | | | | their time. You can even be honest with them if you |
| This is an easy way to weed out worthless properties | | | | like - let them know you're trying to start investing in |
| - those without any bids won't be worth your time. The | | | | properties but are broke. What have you got to lose? |
| ones that got lots of bids, you'll know are nice | | | | You'll be amazed at the positive response. People like |
| properties. | | | | to see their property go to the "little guy," instead of |
| 3. Wait until several months are left in the redemption | | | | the government. |
| period, and check again. See who still hasn't redeemed | | | | 6. Flip the property to another investor - or if you can, |
| their property. If they haven't by now, they probably | | | | pay the taxes off and keep the property. With so little |
| aren't going to. Also, by now, most properties that are | | | | invested, the world's your oyster. You can flip for way |
| left are free and clear. Those with mortgage | | | | below market value to another investor and still walk |
| companies will have been bailed out by now. | | | | away with thousands in profit in your pocket. |
| Also, at this point, you're not going to have much | | | | |