Tax Debt Relief
Invest In Tax Liens
How does it work?
If property taxes become delinquent the controlling government entity will place a lien on the property and that property can not be transfered until the taxes are paid. When you buy a tax lien you pay the back taxes to the governement.
Tax lien certificates earn an incredible, definite interest. When the owner pays the back taxes and penalties within the redemption period you will get a check from the government including your initial investment and all interest earned.. If the owner does not pay the taxes on time you may then take control of the property with the foreclosure process. Since a tax lien takes precedence over the mortgage you will get the property clear of any mortgage, So, either you can earn a good profit from the interest earned or you'll now have a property that cost you pennies on the dollar.
How do i start?
Get in touch with the local tax collector to find out when and where the next tax sale will take place.. Then get a list of the tax liens that will be sold at that time. The list is ordinarily published in a local newspaper.
Find out from the tax collector what the rules of the sale are and what the interest rate will be for the tax liens.
Now just before the sale get a list of unsold tax liens.
Decide which properties seem interesting and then take a look at them. You may not be able to go inside but get an idea of its value and make sure the property is worth a lot more than the taxes that are due. Your realtor can assist you with this.
Get some professional advisors..
Purchasing tax liens can be very profitable and it's safe. But anything worthwhile is usually not that simple. To do this properly and create a growing and lucrative business you should rely on a professional team.
You are the CEO of the team and call the shots, but you'll make better choices and decisions if you have competent advisors.
A title search company can verifty that the title to the property. A title search for tax liens or tax deeds is a very easy process and the title company's fee should be minimal.
An attorney familiar with tax lien foreclosures can check to see that you will have clear title.
A rehabber should be available to make any repairs needed to make the property marketable.
A realtor will be prepared to sell or rent the property for you when it is ready.
