| Tax delinquent property is an amazing investment | | | | going to tell you what they plan to do with the |
| anytime, but the recession has created even more | | | | property. |
| opportunity. Here is how to buy tax delinquent homes, | | | | 3. Determine if the owner wants to sell, or if they've |
| even if you only have a few hundred dollars to start | | | | decided to just let the property go. If they're the first |
| with. | | | | group, offer to buy their deed for $100 and a |
| Before that, a word of advice: don't try to buy tax | | | | percentage of whatever you sell the property for. If |
| delinquent homes at the tax sale. Bidding ensures | | | | they're the second group, simply ask them if they'd |
| maximum price, you need all the cash for your bid at | | | | mind signing the deed over to you. Again, offer them a |
| the tax sale, and worst of all, you can't inspect the | | | | percentage of the proceeds if you're able to do |
| properties before you bid on them. | | | | anything with the property. |
| 1. Wait until the redemption period after tax sale, and | | | | 4. Decide what to do with the property. If you've got |
| check to see who hasn't redeemed their property. At | | | | money, you can pay the taxes off and want to try to |
| this point in the process, properties with mortgages will | | | | sell the property for retail value - maybe it just needs a |
| have been bailed out by the mortgage companies. | | | | little fixing up to be great. Or, if you're not flush with |
| Owners who can come up with the cash will have. All | | | | cash, price the property low enough that it will definitely |
| that's left at this point is owners who can't pay, and | | | | sell before the end of the redemption period. Then let |
| need to sell fast - or who don't care about the | | | | the new buyer deal with the taxes. |
| property and are letting it go. | | | | And you? Now, you simply walk away with thousands |
| 2. Call the owners. Don't be afraid of this step (and if | | | | in profit, without ever having invested more than a few |
| you are, get someone who isn't to do it for you). | | | | hundred dollars (and hopefully, a few hours) of your |
| Owners aren't going to bite your head off - they're | | | | time. |