An Investment In Your Future - Tax Lien Properties
- Author Brent Crouch
- Published July 19, 2008
- Word count 452
Investing in Tax Lien Properties
You've found the auctions in your territory, and you've armed yourself with the knowledge from these pages. Now the time has come to devise your plan of attack. Whether you bid from home or at auction, you can't do yourself a better favor than the proper preliminary research.
Investing From Home
If your state doesn't utilize the tax lien system and you'd rather not shell out for the gas or the plane tickets and travel to an auction, you can always invest via the mail or participate in online auctions. This is certainly convenient but to be successful this method demands a responsible and motivated researcher. If you can't physically view the property and the neighborhood, contact the county holding the auction and review the property's most recent appraisal. When investing long-distance it's wise to stick with newer properties. Older homes may be plagued by asbestos or lead paint, which can all but doom any attempts to sell it later on.
At the Auction
If you decide to travel to a tax lien auction, a little prior investigation will make the whole experience a great deal more enjoyable and less stressful. Rules and fees can vary from auction to auction. Auctions provide no time for second guessing-there are counties with hundreds of properties to get through and the auctioneer will not hesitate to slam down that gavel if no one chimes in. Split second decisions are the difference between good and bad investments.
Aside from depths of the wallet, level of research is usually all that can distinguish one potential investor from another. Scrupulous research can give you the upper hand over even the seasoned veterans in the crowd. Imagine this scenario a property in seemingly decent shape is being auctioned off and you watch as your competitors bid higher and higher on it. Because you actually drove down to the neighborhood to look at the home, you know it's in an unsavory part of town and unlikely to sell for good money if acquired and sold. You've contacted the county and know the amounts owed and the length of redemption period, and you realize it will be virtually impossible for this owner to redeem their taxes. Whoever wins this bid is going to be stuck with worthless piece of real estate. You can smile to yourself and feel confident that you will never entangle yourself in the nightmare of foreclosing such a property.
With research and smart investments, you can't lose you'll either gain back your investment, now fortified with interests and penalties, or you'll "win the tax lien lottery" and acquire a great property that you can rent or sell at up to a 300% profit.
Click Here for Our Free Government Tax Sales List
http://www.taxlienproperties.net/state-tax-lien-list/
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- 10 essential tax-saving strategies for landlords: Maximise your rental income
- A Comprehensive Guide to Navigating the Process and the Role of Customs Brokers in the UK
- Outsourced Accounting Services for UK Businesses: A Cost-Effective Solution for Financial Management
- Top 8 Self Assessment tax return software
- How to Close a Limited Company in the UK
- Maximizing Your Finances: Unleashing the Power of CPA Services
- VAT penalties – New rules
- TAX-FREE STRATEGIES IN AN UNCERTAIN ECONOMY
- 2022 Energy crisis and failure to connect Reality.
- When Are Corporate and Personal Taxes Due in Canada in 2021?
- You Would Never Have Thought That Having Accounting Internship Could Be So Beneficial
- ACTIVATION OF UAN
- Focal motivations behind getting a Tax direct for Small Business Firms
- Avoiding the flood — tax issues with water rights in agribusiness
- Social security benefits for a family (COVID-19)
- How to use QuickBooks Component Repair Tool?
- Do you want to reduce your taxes for next year?
- Will you be responsible with your tax refund?
- Getting started with QuickBooks Enhanced Payroll in Brief
- Are DSTs Right For Your 1031 Exchange
- Tax Return Makeovers By Kenya Woodard
- Why have all crypto tax attempts failed?
- Are You a Corporation? Know Why Consulting a Tax Accountant Is Vital
- Share capital or share premium for your Dutch company?
- Everything investors should know about 1031 sponsors
- Why is the income tax so high in UK?
- Should I do my own tax return?
- Get More Money Back on Your Tax Return with help from the Tax Cuts and Jobs Act
- Don’t Fall Victim to these 3 Tax Scams in 2018
- Find Out If 72(T) Penalty Free Income Is a Solution for You