04 Apr The Neglected Land Parcel
If you learn the techniques that I write about, then you will make loads of money! One of the biggest benefits of investing in tax delinquent LAND is that there is little to no competition, especially if the buy the property before it goes to auction, or even better, before it is schedule for auction. Metropolitan areas have a little more competition then rural areas do, so I focus on the later. I have discovered a way to find out who is not paying their taxes years before anyone else knows. I filter down this valuable data into a subset of records and use creative techniques to contact the record’s owner. Then I wait for the phone to ring. My phone rings all the time and this is good because every time it rings it usually means that I have a deal.
Many people shy away from tax delinquent investing because they figure that any properties that are tax delinquent must be just junk properties. The reality though, after doing over 5,000 transactions, is that the majority of the time, this way of thinking proves to be just not true and the occasional junk property that does come my way doesn’t make it pass my signing desk. The way I buy and sell real-estate is very low risk and will make you huge profits. What huge profits and little to no risk? …what more can you ask for? I can’t think of anything either, so ok let’s move on…
Land is the ticket
I like I said earlier I mainly focus on land rather than houses. There is plenty of forgotten land out there to find and buy. These perfectly great neglected gems you can pick up for literally pennies on the dollar. And the other great thing about land is that you do not have to worry about termite checks, things of that sort and all the other baggage that comes with houses. Also as I mentioned earlier there is virtually no competition. I am usually the only investor around who is interested in land opposed to houses, let alone Tax delinquent land.
Now I must mention that you do need to do a little research to make sure you are buying exactly what you think you are. Make sure you have a free and clear title and do some research on the location of the property. Other then that you do not have too much to worry about.
Remember never put money down on a property. Make sure your offer and purchase contracts are worded such that cash is only transferred at the time of closing and it is important to have an expiration date. If I decide that I do not want a property, then I simply back out and my contract allows me to do so. Find yourself a good attorney to custom create a purchase contract and offer letter that will keep you safe. These legal documents are well worth the cost and can pay for themselves many times over.
I wish you much success in your real estate investing future!
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