So you’ve bought a tax delinquent property for very cheap – let’s say $1000 or less. Now what? Here are a few options for what you can do – plus an insider way to make some serious money from your tax delinquent property.
You can always opt to sell tax delinquent property immediately – without paying the taxes first. By listing the property for well below market value, you can attract a buyer right away. A realtor will be able to help you with this, and you’ll probably end up selling to another investor. They will take care of the taxes (this will be disclosed) and you just walk away with at least a few thousand in profit in your pocket.
If you have the money to pay the taxes, you can redeem and keep the property. Then you can rent it out, and create a monthly income for yourself. Some buyers even choose to live in tax delinquent property.
Or, you can rehab it to tip-top shape and sell it for market value.
Now, here’s another really cool thing you can do with this property. This is a big insider tip, that most investors don’t know.
A lot of people in the areas you’ll be buying in have bad credit, and can’t get a mortgage. Offer to sell to them! Ask for a down payment equal to what you paid in taxes plus a thousand or two, and affordable monthly payments. You’re basically creating free money for yourself from your tax delinquent property this way!
Using these techniques, you’ll be profiting off your tax property in no time. As a tax property investor, there’s never been a better time for you to be in the business. There is a ton of tax delinquent property out there waiting to be bought. Go forth and prosper!
By Robert Holiday