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The Greatness of Tax Lien Investment
Why is tax lien investing such a great investment? What makes it a very lucrative business even in today’s tough economy? Read on to find out.
Local governments depend on the property taxes in order to meet the public services needed by its people. When owners of the properties do not pay their due taxes, the county would sell their taxes to interested investors. Well actually, the investors are paying for the taxes on the property and not purchasing the property itself. This is why they are called lien holders.
The reasons why investors do buy liens from delinquent homeowners is that they would get good interest rates on their money. Second is that tax liens come before most other types of payment dues, which guarantees the investors to get paid.
With tax lien investing, the investors are able to earn nice profits that make their investments worthwhile. This lucrative business won’t go away. Rest assured that it would continue to strive as long as there are properties to sell.
Don’t Let Tax Liens and Deeds Slip Past Your Hands
The good thing about investing in tax liens and deeds is that the counties compile a list of the properties up for sale, and is available for free most of the time. You can readily get it from the county office or by visiting their respective websites. Then, create a plan on which state and county that you decide to invest with. Also, research when they will be holding their sale. Furthermore, with the help of the internet, you can purchase properties with the click of your mouse because most counties today conduct sales online.
There are some states that also offer you an opportunity to buy tax liens and deeds even after the sale is over. You can buy them directly from the county or the owner, which are called leftover tax liens and deeds. These are properties in which investors did not want to buy. Look over them and maybe you’ll get properties that suit your taste.
Find Good Properties at Tax Deed Auctions
The bidding process for tax deed auctions are determined by the local regulations of the county. Some counties are going to require the minimum bids at the auction, starting on the property’s appraised value. Other counties however, utilize the taxes owed by the homeowner as the minimum starting bid.
The very interesting part in a tax deed auction happens when a property doesn’t sell at the initial sale. Some counties allow the selling of those properties with no minimum bids, and no matter how much was owed. You would be even surprised to find $63 tax deeds in this type of deal. It does not happen every day but it is really possible.
Now, maybe you are wondering where to find these types of wonderful deals. Just simply call the office of the county treasurer or tax collector, and ask for its procedures. You can also ask them about the properties that are not immediately sold at the initial auction. Do due diligence on these properties and soon you’ll earn nice profits.
Click Here To Get Your Free Tax Lien Training System ($77 Value)
- Exactly How To Start Buying Tax Liens Today
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- How To Avoid The Mistakes New Tax Lien Investors Make
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