Want to Buy Property For Back Taxes? Here's How to Get Them Without Attending the Tax Sale

If you want to buy property for back taxes, you're a smartie. Of all the types of property you can buy, back taxes property is the most profitable. The problem is, the tax sale is getting too crowded these days, as more people find out about this investing method. The competition's too fierce to get good deals anymore. Here's how to buy property for back taxes, without competing against other bidders at the tax sale auction... and why you must invest this way, if you want to be successful.

Besides the competition, there's one main, glowing reason why you must not buy property for back taxes at tax sale: you can't inspect it first. Would you buy a house to live in you couldn't inspect? Doubtful. If you bid at tax sale, you're committing to buy, in cash, a property that may have extensive problems you don't know about... or that may become extensively damaged in the period of time after you've bought it, but before you can foreclose (1-5 years, depending on what state you're in). If that's not enough to convince you, what is?

There's really no reason to take this risk. There's a little-used loophole in the tax sale investing business, and you should start using it exclusively. It's simple: buy directly from the owners... but only after the property has already been sold at tax sale. It's the only surefire way to buy property for back taxes, and know what you're getting before you buy.

Want to Buy Property For Back Taxes? Here's How to Get Them Without Attending the Tax Sale

During that redemption period where owners can pay off their taxes, you can legally (in most places) buy their property and pay the taxes off yourself. After tax sale - if they can't bail the property out - in their mind, their property's already been "sold," even though they still own it for a while. You approach them during this time, and offer to buy what is, in their minds, their now-worthless deed. You can often get these deeds for only a few hundred dollars, and flip the property before you ever even pay the taxes off.

And all's well that ends well: these folks are usually glad to get at least something for their property, and would much rather see a person like you get it and do something with it than watch a greedy, evil tax sale investor foreclose. It's an important psychological difference, and it will allow you to buy property for back taxes without dealing with the headaches of buying from the auction, and make a lot more money while you're doing it.

Here's another secret: in about half the states in the U.S., when someone bids more for a property than is owed for taxes, that overage amount is held for the owner to come in and collect. Most owners don't realize this, since in many states, the money just goes right to the government. The owners rarely figure it out, since they don't live at the property anymore and, thus, don't receive notice from the government that they have the money waiting for them. After a year or so, legally, the money becomes property of the government, and the owner loses it forever - even if it's ,000.

Since this money isn't held at the state level, you're not subject to the state "unclaimed funds" money finder laws, in most places. So you can find these owners and charge up to a 50% finder's fee for your information and collection service. Since these overbids regularly run into the tens of thousands of dollars, you can easily make in the six figures yearly making a full time business out of it.

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