At some time, almost all real real estate investors look into acquiring tax sale properties in order to expand their business or branch into a new part of real house. There is a great deal of misinformation which leads investors to assume that taxes sale properties are quickly available for a greatly reduced price, free and clear, at tax behavior and tax lien sales around the country. condo for rent pattaya
Sadly, this is simply incorrect.
The shame is that after attending a few auctions or buying a few liens, most traders are disgruntled to find that they are really not acquiring properties with the convenience they had expected, or are paying much more than they expected.
This what they frequently find:
Taxes deed properties are offered with a competitive putting in a bid system, and the costs are put money to near market value. Good tax sale properties sell for much, far more than the minimum wager and far from “pennies on the dollar”.
That they cannot inspect tax sales properties, because they are usually still property of the owner until the sale occurs (and sometimes even after)
Tax loans take months and weeks, or even years, to lead to a property acquisition. Most tax loans pay off, leaving the investor with a relatively little bit of interest compared to the effort he put into participating in the sale.
Tax liens require attorneys at several different stages, which adds an important expense to the picture.
So, attending a market to get tax sale properties is not the ideal solution.
It turns away however, that with a tiny shift in your wondering, you’ll see that there is actually an endless source of tax sales properties that have time and clear, available for a greatly reduced price, and require no legal work. Go straight to the source: the proprietor who is about to lose the exact property.
By getting an upcoming tax deed sales list, or requesting a set of liens which were sold in the previous and are nearing their redemption period, you can contact those owners who are directly on the cusp of losing their property.
You’ll find that many of these owners have inherited the property, or perhaps don’t want it. Gowns why they haven’t paid the taxes. You’ll also find that almost all of these properties are free and clear. Lenders usually receive properties that are getting close to a tax sale so they don’t lose their mortgage interest. The properties that remain are usually there because there is nobody but the uncaring owner to redeem.
You care though. You know you can pick these properties up constantly for a token payment to the owner (or have them under contract and turn them to an investor), and make thousands or even tens of hundreds per transaction.
With duty sale properties nearing behavior sale or the end of their redemption period nearly all day, the source of properties that you can go after is almost endless.