Looking to increase your real estate income? Start purchasing deeds by paying back tax. The steps below will have you buying tax property for $200, outside the auction, in no time. Let other investors bid at tax sale… you stay home. The competition virtually guarantees you won’t be purchasing deeds by paying back tax for any kind of a discount there. Not only that, but these homes can’t be inspected before purchase.
The end of the redemption period is when you’ll be active. Most owners that can pay off, have, by this point in the process. And the owners that still haven’t paid their taxes by now are probably letting the property go. Purchasing deeds by paying back tax at this point in time is very easy.
First, find the owners. You can often find this information for free on the internet. You can then contact them via email, letter, or phone. You’ll have more success purchasing deeds by paying back tax with these owners if you call, rather than wait for them to call you. Then offer to get the deed out of their hair now. Offer them $200 for their time in signing the paperwork. These owners view the property as worthless, or already sold. So they’ll say yes to this offer most of the time.
Sell the property before the end of the redemption period, or pay the taxes and keep it. If you can afford it, you can pay the taxes off and do what you like with the property. Or, profit immediately by selling well below market to another investor. It’ll be the new buyer’s responsibility to pay the taxes.
This technique is called “deed grabbing” and it’s the easiest way to start purchasing deeds by paying back tax. This is a golden era for tax sale investing – there’s never been a time quite like it. So if you’ve been dreaming about it or actively considering it, don’t put it off!
By Robert Holiday