Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
How To Buy Back Tax Real Estate For $200 And What To Do Once You've Got It
1. How To Buy Back Tax Real Estate For $200 And What To Do Once
You've Got It
Let's get right to the point. You want to buy back tax real estate, and you want it for cheap. There's
one way to achieve this: buy directly from the tax-delinquent owner, when they're just about to lose
the property forever. Once you've bought it, there are literally hundreds of ways to profit from it.
Here's how to buy back tax real estate for $200 - and what to do with it once you've got it.
Again, if you want to buy back tax real estate, you can't attend tax sale - you'll never buy a worthwhile
property there for $200. It's got to come from the owners themselves - and the only time you'll get
property from them for $200 is in the weeks or month before the "drop-dead" date - the end of the
redemption period.
The owners you will find still unredeemed at this point all have something in common. Despite the fact
that their property is almost certainly free and clear, they no longer want it. They're going to let it go to
the government in a few weeks. These owners got tired of owning a property, or never wanted it in
the first place (heirs).
Call these owners at this specific time and ask what their plan is. When they tell you they're letting the
property go, simply ask if they'd mind signing it over to you so you can see what you can do with it, if
anything. Offer them $200 to sign the paperwork. There you have it: the easiest way to buy back tax
real estate, and the cheapest.
What you do next is the fun part. If you don't have the money to pay off the taxes, price the property
low enough that you'll still make a nice return on your $200, and flip it to another investor. Price the
property right, and it will sell immediately. Then let the buyer deal with the taxes.
If you do have the tax money, you can keep the property, live in it or rent it out, or try to sell it for
retail. Or you can do even better - sell the property to someone who otherwise couldn't get a
mortgage. Take a down payment of the price you paid in taxes, and then monthly payments from then
on out. You've just set up an income stream for yourself for the length of your mortgage - and you've
recouped your tax investment.
If you want to buy back tax real estate, now is the time to go for it. Using the methods above, it's
virtually risk-free, and you can have money coming in in no time.
burbank CA real estate
